Amundi Has $34.70 Million Position in Penumbra, Inc. $PEN

Key Points

• Amundi reduced its Penumbra position by 68.2% in the second quarter, selling 235,870 shares and retaining 109,888 shares worth approximately $34.7 million.
• Institutional ownership remains high at 88.88%, with California State Teachers Retirement System and BlackRock making major additions, while Artisan Partners increased its stake by 165.9%.
• Penumbra reported quarterly revenue of $390.05 million, up 14.9% year over year, but earnings per share of $0.88 missed estimates of $1.16. Analysts maintain a consensus “Hold” rating with an average price target of $367.07.

Amundi cut its position in Penumbra, Inc. (NYSE:PEN - Free Report) by 68.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 109,888 shares of the company's stock after selling 235,870 shares during the quarter. Amundi owned 0.28% of Penumbra worth $34,697,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. California State Teachers Retirement System lifted its holdings in shares of Penumbra by 31,694.6% during the second quarter. California State Teachers Retirement System now owns 13,667,555 shares of the company's stock worth $4,315,530,000 after purchasing an additional 13,624,568 shares during the period. BlackRock Inc. acquired a new stake in Penumbra in the second quarter valued at $1,356,953,000. Geode Capital Management LLC raised its position in Penumbra by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 766,510 shares of the company's stock worth $238,365,000 after purchasing an additional 18,738 shares during the last quarter. Invesco Ltd. raised its position in Penumbra by 1.1% during the 4th quarter. Invesco Ltd. now owns 638,305 shares of the company's stock worth $198,455,000 after purchasing an additional 7,211 shares during the last quarter. Finally, Artisan Partners Limited Partnership lifted its holdings in Penumbra by 165.9% during the 4th quarter. Artisan Partners Limited Partnership now owns 594,112 shares of the company's stock worth $184,715,000 after buying an additional 370,636 shares during the period. 88.88% of the stock is currently owned by institutional investors.

Penumbra Stock Performance

PEN opened at $317.75 on Friday. Penumbra, Inc. has a 1-year low of $221.26 and a 1-year high of $362.41. The company has a market cap of $12.52 billion, a price-to-earnings ratio of 78.07, a PEG ratio of 2.20 and a beta of 0.70. The company's fifty day moving average price is $321.51 and its two-hundred day moving average price is $325.61. The company has a current ratio of 5.75, a quick ratio of 3.86 and a debt-to-equity ratio of 0.01.

Penumbra (NYSE:PEN - Get Free Report) last posted its earnings results on Thursday, July 30th. The company reported $0.88 earnings per share for the quarter, missing analysts' consensus estimates of $1.16 by ($0.28). The business had revenue of $390.05 million during the quarter, compared to analyst estimates of $389.64 million. Penumbra had a return on equity of 10.50% and a net margin of 10.67%.The company's revenue was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.86 EPS. On average, analysts expect that Penumbra, Inc. will post 4.96 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on PEN shares. Weiss Ratings restated a "hold (c)" rating on shares of Penumbra in a research report on Friday, July 17th. Zacks Research upgraded shares of Penumbra from a "strong sell" rating to a "hold" rating in a report on Monday, August 24th. Evercore reaffirmed an "outperform" rating and issued a $320.00 price objective on shares of Penumbra in a research note on Monday, July 6th. Finally, Royal Bank Of Canada reissued a "sector perform" rating and set a $374.00 target price on shares of Penumbra in a research note on Thursday, June 11th. Three research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. Based on data from MarketBeat.com, Penumbra presently has an average rating of "Hold" and a consensus target price of $367.07.

Penumbra Company Profile

Penumbra, Inc NYSE: PEN is a medical device company that develops, manufactures and markets products designed to treat neurovascular, vascular and other medical conditions. Its technologies are used by physicians in minimally invasive procedures, including the removal of blood clots, treatment of aneurysms and management of vascular disorders.

The company's product portfolio includes aspiration and mechanical thrombectomy systems for ischemic stroke and pulmonary embolism, embolization devices for aneurysms and other vascular conditions, and access and peripheral vascular products.

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