Engineers Gate Manager LP Purchases 14,086 Shares of Penumbra, Inc. $PEN

Key Points

• Engineers Gate Manager LP increased its Penumbra position by 1,536.1% in the second quarter, buying 14,086 additional shares for a total holding valued at approximately $4.74 million. Institutional investors collectively own 88.88% of PEN shares.
• Analysts maintain a generally cautious outlook, with a consensus “Hold” rating and an average price target of $367.07; ratings include three Buys and fourteen Holds.
• Penumbra reported quarterly revenue of $390.05 million, up 14.9% year over year, but earnings of $0.88 per share missed the $1.16 consensus estimate. The stock opened at $317.86, near its $321.50 50-day moving average.

Engineers Gate Manager LP lifted its position in Penumbra, Inc. (NYSE:PEN - Free Report) by 1,536.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,003 shares of the company's stock after purchasing an additional 14,086 shares during the quarter. Engineers Gate Manager LP's holdings in Penumbra were worth $4,737,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Arizona State Retirement System lifted its position in Penumbra by 0.9% in the 2nd quarter. Arizona State Retirement System now owns 10,308 shares of the company's stock worth $3,255,000 after buying an additional 87 shares during the last quarter. Nykredit A S bought a new position in Penumbra during the second quarter valued at approximately $489,000. Corient Private Wealth LP grew its position in Penumbra by 16.8% during the second quarter. Corient Private Wealth LP now owns 1,757 shares of the company's stock valued at $555,000 after acquiring an additional 253 shares during the last quarter. California State Teachers Retirement System raised its stake in shares of Penumbra by 31,694.6% during the second quarter. California State Teachers Retirement System now owns 13,667,555 shares of the company's stock worth $4,315,530,000 after acquiring an additional 13,624,568 shares in the last quarter. Finally, AlphaGrep UK Ltd purchased a new position in shares of Penumbra during the second quarter worth approximately $365,000. 88.88% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on PEN shares. Weiss Ratings restated a "hold (c)" rating on shares of Penumbra in a report on Friday, July 17th. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $374.00 target price on shares of Penumbra in a research report on Thursday, June 11th. Evercore reissued an "outperform" rating and issued a $320.00 price target on shares of Penumbra in a research note on Monday, July 6th. Finally, Zacks Research upgraded shares of Penumbra from a "strong sell" rating to a "hold" rating in a research report on Monday, August 24th. Three investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $367.07.

Penumbra Price Performance

PEN opened at $317.86 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.86 and a current ratio of 5.75. Penumbra, Inc. has a 52-week low of $221.26 and a 52-week high of $362.41. The stock has a market capitalization of $12.52 billion, a PE ratio of 78.10, a price-to-earnings-growth ratio of 2.18 and a beta of 0.70. The stock's 50 day moving average price is $321.50 and its 200-day moving average price is $325.55.

Penumbra (NYSE:PEN - Get Free Report) last announced its earnings results on Thursday, July 30th. The company reported $0.88 EPS for the quarter, missing analysts' consensus estimates of $1.16 by ($0.28). The business had revenue of $390.05 million for the quarter, compared to the consensus estimate of $389.64 million. Penumbra had a net margin of 10.67% and a return on equity of 10.50%. Penumbra's revenue was up 14.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.86 EPS. On average, equities research analysts predict that Penumbra, Inc. will post 4.96 EPS for the current year.

About Penumbra

Penumbra, Inc NYSE: PEN is a medical device company that develops, manufactures and markets products designed to treat neurovascular, vascular and other medical conditions. Its technologies are used by physicians in minimally invasive procedures, including the removal of blood clots, treatment of aneurysms and management of vascular disorders.

The company's product portfolio includes aspiration and mechanical thrombectomy systems for ischemic stroke and pulmonary embolism, embolization devices for aneurysms and other vascular conditions, and access and peripheral vascular products.

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