Dorsey Wright & Associates Buys New Shares in Penumbra, Inc. $PEN

Key Points

• Dorsey Wright & Associates opened a new position in Penumbra during the first quarter, buying 3,523 shares valued at about $1.16 million.
• Penumbra reported quarterly earnings of $0.82 per share, missing estimates, while revenue of $374.76 million beat expectations and rose 15.6% year over year.
• Analyst sentiment remains cautious overall, with a Hold consensus rating and an average price target of $360.33, despite some firms maintaining bullish views.

Dorsey Wright & Associates bought a new position in shares of Penumbra, Inc. (NYSE:PEN - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 3,523 shares of the company's stock, valued at approximately $1,157,000.

Several other large investors have also recently bought and sold shares of the stock. Larson Financial Group LLC increased its position in shares of Penumbra by 4,100.0% during the 4th quarter. Larson Financial Group LLC now owns 84 shares of the company's stock worth $26,000 after purchasing an additional 82 shares during the last quarter. CIBC Private Wealth Group LLC boosted its holdings in shares of Penumbra by 2,700.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 84 shares of the company's stock valued at $26,000 after buying an additional 81 shares during the last quarter. Motiv8 Investments LLC bought a new position in shares of Penumbra in the fourth quarter valued at $27,000. Morse Asset Management Inc bought a new position in shares of Penumbra in the fourth quarter valued at $39,000. Finally, Farther Finance Advisors LLC increased its holdings in 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 buying an additional 38 shares during the last quarter. 88.88% of the stock is owned by institutional investors and hedge funds.

Penumbra Trading Down 0.3%

PEN stock opened at $318.51 on Friday. Penumbra, Inc. has a one year low of $221.26 and a one year high of $362.41. The stock has a market cap of $12.53 billion, a price-to-earnings ratio of 73.39, a price-to-earnings-growth ratio of 1.97 and a beta of 0.70. The company has a fifty day moving average price of $319.94 and a two-hundred day moving average price of $329.73. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.02 and a quick ratio of 3.95.

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 the consensus estimate of $1.06 by ($0.24). The company had revenue of $374.76 million during the quarter, compared to the consensus estimate of $370.47 million. Penumbra had a net margin of 11.76% and a return on equity of 10.87%. Penumbra's revenue for the quarter was up 15.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.83 earnings per share. Equities analysts anticipate that Penumbra, Inc. will post 5.04 EPS for the current year.

Analyst Ratings Changes

PEN has been the subject of a number of recent analyst reports. Evercore reiterated an "outperform" rating and issued a $320.00 price target on shares of Penumbra in a research note on Monday, July 6th. Wall Street Zen upgraded shares of Penumbra to a "hold" rating in a research note on Saturday, May 9th. 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. Zacks Research cut Penumbra from a "hold" rating to a "strong sell" rating in a report on Monday, June 29th. Finally, 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. Three investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Penumbra presently has a consensus rating of "Hold" and a consensus price target 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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