Capula Management Ltd Takes Position in Penumbra, Inc. $PEN

Key Points

• Capula Management Ltd opened a new position in Penumbra during the first quarter, buying 101,779 shares valued at about $33.4 million. The stake represented roughly 0.26% of Penumbra and was Capula’s 15th-largest holding.
• Institutional interest in Penumbra remains strong, with several funds adding or starting positions and 88.88% of the stock now owned by hedge funds and other institutional investors.
• Analyst sentiment is mixed: Penumbra holds a consensus “Hold” rating with a $360.33 average price target, while the company recently missed earnings per share estimates despite posting higher revenue year over year.

Capula Management Ltd purchased a new position in shares of Penumbra, Inc. (NYSE:PEN - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 101,779 shares of the company's stock, valued at approximately $33,421,000. Penumbra comprises approximately 0.2% of Capula Management Ltd's holdings, making the stock its 15th biggest position. Capula Management Ltd owned approximately 0.26% of Penumbra at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in PEN. Artisan Partners Limited Partnership increased 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 valued at $184,715,000 after acquiring an additional 370,636 shares in the last quarter. William Blair Investment Management LLC purchased a new stake in shares of Penumbra in the fourth quarter valued at about $107,567,000. Bank of Nova Scotia lifted its holdings in shares of Penumbra by 14,837.9% in the first quarter. Bank of Nova Scotia now owns 211,820 shares of the company's stock valued at $69,555,000 after purchasing an additional 210,402 shares in the last quarter. Man Group plc grew its position in shares of Penumbra by 1,862.2% in the second quarter. Man Group plc now owns 206,461 shares of the company's stock valued at $52,984,000 after purchasing an additional 195,939 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in shares of Penumbra by 139.4% in the second quarter. AQR Capital Management LLC now owns 330,990 shares of the company's stock valued at $84,939,000 after purchasing an additional 192,734 shares during the last quarter. 88.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PEN. Evercore restated an "outperform" rating and set a $320.00 price objective on shares of Penumbra in a research report on Monday, July 6th. Weiss Ratings reiterated a "hold (c)" rating on shares of Penumbra in a report on Friday, July 17th. Citigroup dropped their price target on Penumbra from $374.00 to $350.00 and set a "neutral" rating for the company in a research report on Thursday, May 7th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $374.00 price target on shares of Penumbra in a report on Thursday, June 11th. Finally, Zacks Research downgraded Penumbra from a "hold" rating to a "strong sell" rating in a research report on Monday, June 29th. Three research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $360.33.

Penumbra Price Performance

Shares of NYSE:PEN opened at $317.83 on Friday. The company has a market cap of $12.50 billion, a P/E ratio of 73.23, a P/E/G ratio of 1.96 and a beta of 0.70. The business has a fifty day simple moving average of $319.53 and a 200-day simple moving average of $330.00. Penumbra, Inc. has a 52 week low of $221.26 and a 52 week high of $362.41. The company has a quick ratio of 3.95, a current ratio of 6.02 and a debt-to-equity ratio of 0.01.

Penumbra (NYSE:PEN - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.82 earnings per share for the quarter, missing analysts' consensus estimates of $1.06 by ($0.24). Penumbra had a net margin of 11.76% and a return on equity of 10.87%. The company had revenue of $374.76 million during the quarter, compared to analyst estimates of $370.47 million. During the same quarter last year, the business earned $0.83 EPS. The firm's revenue for the quarter was up 15.6% compared to the same quarter last year. Equities research analysts forecast that Penumbra, Inc. will post 5.02 EPS for the current year.

Penumbra Company 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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