Diversify Wealth Management LLC Buys 3,467 Shares of Penumbra, Inc. $PEN

Key Points

• Diversify Wealth Management LLC increased its Penumbra stake by 72% in the first quarter, buying 3,467 additional shares and bringing its total holding to 8,283 shares worth about $2.69 million.
• Penumbra reported mixed quarterly results: revenue rose 15.6% year over year to $374.76 million, but earnings per share of $0.82 missed analyst expectations of $1.06.
• Wall Street sentiment on Penumbra remains cautious, with a consensus Hold rating and an average price target of $360.33, even as some firms maintain bullish or neutral views.

Diversify Wealth Management LLC raised its stake in Penumbra, Inc. (NYSE:PEN - Free Report) by 72.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,283 shares of the company's stock after acquiring an additional 3,467 shares during the period. Diversify Wealth Management LLC's holdings in Penumbra were worth $2,691,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of PEN. Hsbc Holdings PLC increased its holdings in Penumbra by 2.3% during 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 fourth quarter. Farther Finance Advisors LLC now owns 178 shares of the company's stock worth $55,000 after purchasing an additional 38 shares during the last quarter. 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 valued at $537,000 after buying an additional 39 shares in the last quarter. Keybank National Association OH increased its stake in shares of Penumbra by 1.2% in the fourth quarter. Keybank National Association OH now owns 3,705 shares of the company's stock valued at $1,152,000 after buying an additional 43 shares in the last quarter. Finally, UMB Bank n.a. raised its holdings in shares of Penumbra by 11.3% in the fourth quarter. UMB Bank n.a. now owns 442 shares of the company's stock valued at $137,000 after buying an additional 45 shares during the last quarter. 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 $318.61 on Tuesday. The firm has a market cap of $12.53 billion, a price-to-earnings ratio of 73.41, a PEG ratio of 1.97 and a beta of 0.70. The company's fifty day simple moving average is $320.42 and its 200 day simple moving average is $329.78. Penumbra, Inc. has a 12 month low of $221.26 and a 12 month 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 data on Wednesday, May 6th. The company reported $0.82 EPS for the quarter, missing analysts' consensus estimates of $1.06 by ($0.24). Penumbra had a return on equity of 10.87% and a net margin of 11.76%.The business had revenue of $374.76 million during the quarter, compared to the consensus estimate of $370.47 million. During the same period in the prior year, the firm earned $0.83 EPS. The business's revenue for the quarter was up 15.6% compared to the same quarter last year. As a group, research analysts forecast that Penumbra, Inc. will post 5.04 EPS for the current fiscal year.

Analysts Set New Price Targets

PEN has been the subject of several research reports. Evercore restated an "outperform" rating and issued a $320.00 price objective on shares of Penumbra in a research report on Monday, July 6th. Wall Street Zen upgraded shares of Penumbra to a "hold" rating in a research report on Saturday, May 9th. Zacks Research cut shares of Penumbra from a "hold" rating to a "strong sell" rating in a research report on Monday, June 29th. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $374.00 price objective on shares of Penumbra in a report on Thursday, June 11th. Finally, Citigroup decreased their price objective on Penumbra from $374.00 to $350.00 and set a "neutral" rating on the stock in a research report on Thursday, May 7th. Three research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $360.33.

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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