DLD Asset Management LP Makes New Investment in Penumbra, Inc. $PEN

Key Points

• DLD Asset Management LP opened a new position in Penumbra during the first quarter, buying 7,230 shares valued at about $2.37 million.
• Institutional interest in Penumbra remains high, with investors owning 88.88% of the stock and several funds recently increasing or initiating stakes.
• Penumbra reported Q1 EPS of $0.82, missing estimates, though revenue rose 15.6% year over year to $374.76 million; analysts currently have a consensus Hold rating and a $360.33 price target.

DLD Asset Management LP purchased a new stake 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 & Exchange Commission. The fund purchased 7,230 shares of the company's stock, valued at approximately $2,374,000.

Several other institutional investors and hedge funds have also recently modified their holdings of PEN. SG Americas Securities LLC increased its holdings in Penumbra by 144.4% during the 4th quarter. SG Americas Securities LLC now owns 11,111 shares of the company's stock worth $3,455,000 after purchasing an additional 6,564 shares during the period. Stephens Investment Management Group LLC purchased a new stake in shares of Penumbra in the 4th quarter worth $37,563,000. New York Life Investment Management LLC purchased a new stake in shares of Penumbra in the 4th quarter worth $999,000. Simplify Asset Management Inc. grew its position in shares of Penumbra by 89.7% during the 4th quarter. Simplify Asset Management Inc. now owns 15,827 shares of the company's stock worth $4,921,000 after buying an additional 7,485 shares in the last quarter. Finally, SBI Okasan Asset Management Co.Ltd. bought a new position in shares of Penumbra during the 4th quarter worth $2,091,000. Institutional investors own 88.88% of the company's stock.

Penumbra Trading Down 0.3%

PEN opened at $316.58 on Thursday. The firm has a market cap of $12.45 billion, a price-to-earnings ratio of 72.94, a PEG ratio of 1.97 and a beta of 0.70. The company has a current ratio of 6.02, a quick ratio of 3.95 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 fifty day moving average price of $319.64 and a 200-day moving average price of $329.94.

Penumbra (NYSE:PEN - Get Free Report) last issued its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $370.47 million. During the same period in the previous year, the business earned $0.83 EPS. Penumbra's revenue for the quarter was up 15.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Penumbra, Inc. will post 5.02 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on PEN shares. Zacks Research downgraded Penumbra from a "hold" rating to a "strong sell" rating in a report on Monday, June 29th. Citigroup dropped their target price on shares of Penumbra from $374.00 to $350.00 and set a "neutral" rating on the stock in a report on Thursday, May 7th. Weiss Ratings reiterated a "hold (c)" rating on shares of Penumbra in a report on Friday, July 17th. Wall Street Zen raised shares of Penumbra to a "hold" rating in a research report on Saturday, May 9th. Finally, Evercore restated an "outperform" rating and issued a $320.00 price target on shares of Penumbra in a report on Monday, July 6th. Three analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Penumbra currently has a consensus rating of "Hold" and a consensus price target of $360.33.

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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