Gabelli Funds LLC Acquires Shares of 56,623 Penumbra, Inc. $PEN

Key Points

• Gabelli Funds LLC opened a new position in Penumbra during Q1, buying 56,623 shares valued at about $18.6 million. The filing shows the fund now owns roughly 0.14% of the company.
• Penumbra’s stock recently traded at $318.60, giving it a market cap of about $12.53 billion. The shares remain below their 12-month high of $362.41 and above the low of $221.26.
• The company reported Q1 earnings of $0.82 per share, missing analyst expectations, though revenue rose 15.6% year over year to $374.76 million. Wall Street’s consensus rating on PEN is currently Hold, with an average price target of $360.33.

Gabelli Funds LLC acquired a new position in Penumbra, Inc. (NYSE:PEN - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 56,623 shares of the company's stock, valued at approximately $18,593,000. Gabelli Funds LLC owned approximately 0.14% of Penumbra as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently bought and sold shares of PEN. Larson Financial Group LLC increased its stake in shares of Penumbra by 4,100.0% in the fourth quarter. Larson Financial Group LLC now owns 84 shares of the company's stock valued at $26,000 after buying an additional 82 shares in the last quarter. CIBC Private Wealth Group LLC raised its holdings in shares of Penumbra by 2,700.0% in the fourth 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 acquired a new position in Penumbra during the 4th quarter worth about $27,000. Morse Asset Management Inc acquired a new position in Penumbra during the 4th quarter worth about $39,000. Finally, Farther Finance Advisors LLC lifted its position in Penumbra by 27.1% during the 4th quarter. Farther Finance Advisors LLC now owns 178 shares of the company's stock worth $55,000 after buying an additional 38 shares in the last quarter. Institutional investors and hedge funds own 88.88% of the company's stock.

Penumbra Price Performance

Penumbra stock opened at $318.60 on Friday. The business's 50-day simple moving average is $319.45 and its 200 day simple moving average is $329.92. The stock has a market cap of $12.53 billion, a price-to-earnings ratio of 73.41, a P/E/G ratio of 1.98 and a beta of 0.70. 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 firm had revenue of $374.76 million during the quarter, compared to analyst estimates of $370.47 million. During the same quarter in the previous year, the business earned $0.83 earnings per share. Penumbra's revenue for the quarter was up 15.6% compared to the same quarter last year. As a group, research analysts anticipate that Penumbra, Inc. will post 5.02 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PEN. Royal Bank Of Canada restated a "sector perform" rating and issued a $374.00 price objective on shares of Penumbra in a research report on Thursday, June 11th. Evercore reaffirmed an "outperform" rating and issued a $320.00 target price on shares of Penumbra in a research note on Monday, July 6th. Weiss Ratings reiterated a "hold (c)" rating on shares of Penumbra in a research report on Friday, July 17th. Wall Street Zen raised shares of Penumbra to a "hold" rating in a research note on Saturday, May 9th. Finally, Citigroup lowered their price target on shares of Penumbra from $374.00 to $350.00 and set a "neutral" rating for the company in a 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's stock. According to MarketBeat, 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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