BlackRock Inc. Invests $1.36 Billion in Penumbra, Inc. $PEN

BlackRock Inc. acquired a new stake in shares of Penumbra, Inc. (NYSE:PEN - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,297,555 shares of the company's stock, valued at approximately $1,356,953,000. BlackRock Inc. owned about 10.91% of Penumbra at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Hsbc Holdings PLC boosted its position in Penumbra by 2.3% in the fourth quarter. Hsbc Holdings PLC now owns 1,527 shares of the company's stock valued at $475,000 after buying an additional 35 shares during the last quarter. Farther Finance Advisors LLC increased its stake in shares of Penumbra by 27.1% in the fourth quarter. Farther Finance Advisors LLC now owns 178 shares of the company's stock worth $55,000 after acquiring an additional 38 shares during the period. Swiss Life Asset Management Ltd increased its stake in shares of Penumbra by 2.3% in the fourth quarter. Swiss Life Asset Management Ltd now owns 1,728 shares of the company's stock worth $537,000 after acquiring an additional 39 shares during the period. Keybank National Association OH raised its holdings in shares of Penumbra by 1.2% during the fourth 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 last quarter. Finally, UMB Bank n.a. raised its holdings in shares of Penumbra by 11.3% during 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 owned by institutional investors and hedge funds.

Penumbra Trading Down 0.8%

PEN stock opened at $324.19 on Friday. 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, Inc. has a 12-month low of $221.26 and a 12-month high of $362.41. The stock has a market cap of $12.77 billion, a price-to-earnings ratio of 79.65, a PEG ratio of 2.03 and a beta of 0.70. The business's 50-day moving average is $320.01 and its 200 day moving average is $327.72.

Penumbra (NYSE:PEN - Get Free Report) last announced its quarterly earnings data 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). Penumbra had a net margin of 10.67% and a return on equity of 10.50%. The firm had revenue of $390.05 million during the quarter, compared to analysts' expectations of $389.64 million. During the same quarter in the previous year, the business posted $0.86 EPS. The company's revenue for the quarter was up 14.9% on a year-over-year basis. On average, sell-side analysts anticipate that Penumbra, Inc. will post 5.02 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $374.00 price target on shares of Penumbra in a research report on Thursday, June 11th. Zacks Research downgraded Penumbra from a "hold" rating to a "strong sell" rating in a research note on Monday, June 29th. Citigroup dropped their target price on Penumbra from $374.00 to $350.00 and set a "neutral" rating on the stock in a report on Thursday, May 7th. Evercore reiterated an "outperform" rating and set a $320.00 price target on shares of Penumbra in a research report on Monday, July 6th. Finally, Wall Street Zen raised Penumbra to a "hold" rating in a report on Saturday, May 9th. Three 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $367.07.

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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