Deutsche Bank AG Makes New $1.34 Million Investment in Penumbra, Inc. $PEN

Key Points

• Deutsche Bank initiated a $1.34 million position in Penumbra during the second quarter, purchasing 4,232 shares. Institutional investors and hedge funds collectively own 88.88% of the company.
• Penumbra reported quarterly revenue of $390.05 million, up 14.9% year over year and slightly above estimates, but earnings per share of $0.88 missed the $1.16 consensus forecast.
• Analysts maintain a broadly cautious outlook, with the stock carrying an average “Hold” rating and a $367.07 consensus price target versus its recent price of $321.58.

Deutsche Bank AG purchased a new position in shares of Penumbra, Inc. (NYSE:PEN - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 4,232 shares of the company's stock, valued at approximately $1,336,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Royal Bank of Canada grew its position in Penumbra by 35.8% in the first quarter. Royal Bank of Canada now owns 19,332 shares of the company's stock valued at $5,169,000 after purchasing an additional 5,092 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in Penumbra by 209.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 272 shares of the company's stock worth $70,000 after buying an additional 184 shares in the last quarter. Cerity Partners LLC lifted its position in Penumbra by 22.3% during the 2nd quarter. Cerity Partners LLC now owns 10,030 shares of the company's stock worth $2,574,000 after buying an additional 1,829 shares in the last quarter. California Public Employees Retirement System boosted its stake in shares of Penumbra by 7.9% during the 2nd quarter. California Public Employees Retirement System now owns 61,027 shares of the company's stock worth $15,661,000 after buying an additional 4,491 shares during the last quarter. Finally, Daiwa Securities Group Inc. acquired a new position in shares of Penumbra during the 2nd quarter worth about $1,137,000. 88.88% of the stock is currently owned by institutional investors and hedge funds.

Penumbra Trading Up 0.2%

Shares of NYSE:PEN opened at $321.58 on Friday. Penumbra, Inc. has a 52-week low of $221.26 and a 52-week high of $362.41. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.86 and a current ratio of 5.75. The company has a market capitalization of $12.67 billion, a P/E ratio of 79.01, a price-to-earnings-growth ratio of 1.99 and a beta of 0.70. The company has a 50-day simple moving average of $320.71 and a 200 day simple moving average of $326.86.

Penumbra (NYSE:PEN - Get Free Report) last announced its quarterly 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). Penumbra had a return on equity of 10.50% and a net margin of 10.67%.The business had revenue of $390.05 million for the quarter, compared to analyst estimates of $389.64 million. During the same period last year, the firm earned $0.86 EPS. Penumbra's quarterly revenue was up 14.9% compared to the same quarter last year. Sell-side analysts forecast that Penumbra, Inc. will post 5.02 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently issued reports on PEN shares. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Penumbra in a research report on Friday, July 17th. Royal Bank Of Canada reissued 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 upgraded Penumbra from a "strong sell" rating to a "hold" rating in a research note on Monday, August 24th. Evercore reaffirmed an "outperform" rating and set a $320.00 price target on shares of Penumbra in a research report on Monday, July 6th. Finally, Citigroup dropped their price objective on Penumbra from $374.00 to $350.00 and set a "neutral" rating on the stock in a research note on Thursday, May 7th. Three research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.