Amundi Buys 259,936 Shares of Penumbra, Inc. $PEN

Key Points

• Amundi increased its Penumbra stake by 302.9% in the first quarter, buying 259,936 additional shares for a total of 345,758 shares valued at approximately $113.5 million. Institutional investors collectively own 88.88% of the company.
• Analysts maintain a generally cautious view, with a consensus “Hold” rating and an average price target of $367.07. Recent targets range from $320 to $374.
• Penumbra’s latest quarterly revenue rose 14.9% year over year to $390.05 million, slightly exceeding estimates, but earnings of $0.88 per share missed the $1.16 consensus forecast.

Amundi boosted its stake in Penumbra, Inc. (NYSE:PEN - Free Report) by 302.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 345,758 shares of the company's stock after purchasing an additional 259,936 shares during the quarter. Amundi owned about 0.88% of Penumbra worth $113,537,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Hsbc Holdings PLC boosted its stake in shares of Penumbra by 2.3% in the 4th quarter. Hsbc Holdings PLC now owns 1,527 shares of the company's stock valued at $475,000 after purchasing an additional 35 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Penumbra by 27.1% during the 4th quarter. Farther Finance Advisors LLC now owns 178 shares of the company's stock valued at $55,000 after purchasing an additional 38 shares during the last quarter. Swiss Life Asset Management Ltd raised its position in Penumbra by 2.3% in the 4th quarter. Swiss Life Asset Management Ltd now owns 1,728 shares of the company's stock worth $537,000 after purchasing an additional 39 shares during the period. Keybank National Association OH raised its position in Penumbra by 1.2% in the 4th quarter. Keybank National Association OH now owns 3,705 shares of the company's stock worth $1,152,000 after purchasing an additional 43 shares during the period. Finally, UMB Bank n.a. lifted its stake in Penumbra by 11.3% in the fourth quarter. UMB Bank n.a. now owns 442 shares of the company's stock worth $137,000 after purchasing an additional 45 shares during the last quarter. 88.88% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Citigroup lowered their target price on Penumbra from $374.00 to $350.00 and set a "neutral" rating for the company in a research note on Thursday, May 7th. Royal Bank Of Canada restated a "sector perform" rating and set a $374.00 price target on shares of Penumbra in a research report on Thursday, June 11th. Evercore reiterated an "outperform" rating and issued a $320.00 price objective on shares of Penumbra in a research report on Monday, July 6th. Weiss Ratings restated a "hold (c)" rating on shares of Penumbra in a report on Friday, July 17th. Finally, Wall Street Zen raised shares of Penumbra to a "hold" rating in a research note on Saturday, May 9th. Three equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $367.07.

Penumbra Price Performance

Shares of PEN opened at $321.40 on Friday. The firm has a market cap of $12.64 billion, a PE ratio of 78.97, a P/E/G ratio of 1.98 and a beta of 0.70. Penumbra, Inc. has a 1-year low of $221.26 and a 1-year high of $362.41. The company has a current ratio of 6.02, a quick ratio of 3.95 and a debt-to-equity ratio of 0.01. The firm has a fifty day simple moving average of $318.75 and a two-hundred day simple moving average of $330.03.

Penumbra (NYSE:PEN - Get Free Report) last announced its earnings results on Monday, August 3rd. The company reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.16 by ($0.28). Penumbra had a net margin of 10.67% and a return on equity of 10.70%. The business had revenue of $390.05 million for the quarter, compared to the consensus estimate of $389.64 million. During the same quarter last year, the firm posted $0.86 earnings per share. The business's quarterly revenue was up 14.9% compared to the same quarter last year. On average, equities analysts anticipate that Penumbra, Inc. will post 5.02 EPS for the current year.

Penumbra Profile

Penumbra, Inc is a global healthcare company specializing in the development and manufacture of innovative medical devices that address neurovascular and peripheral vascular conditions. The company focuses on products designed to improve patient outcomes in acute ischemic stroke, aneurysm treatment and peripheral thrombectomy. Penumbra's technologies are used by interventional neuroradiologists, neurosurgeons and interventional cardiologists in hospitals and clinics around the world.

At the core of Penumbra's portfolio is its mechanical thrombectomy platform, which includes aspiration catheters and accessory devices engineered to remove blood clots in acute stroke cases.

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