Healthcare of Ontario Pension Plan Trust Fund Makes New Investment in Penumbra, Inc. $PEN

Key Points

• Healthcare of Ontario Pension Plan Trust Fund acquired 67,850 Penumbra shares worth approximately $22.28 million, representing about 0.17% of the company. Institutional investors collectively own 88.88% of PEN.
• Analysts maintain a broadly cautious outlook, with a consensus “Hold” rating and an average price target of $360.33; individual targets range from $320 to $374.
• Penumbra’s latest quarterly revenue rose 15.6% year over year to $374.76 million, beating estimates, but earnings per share of $0.82 missed the $1.06 consensus forecast. Shares opened at $318.60, near their 50-day moving average.

Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Penumbra, Inc. (NYSE:PEN - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 67,850 shares of the company's stock, valued at approximately $22,280,000. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.17% of Penumbra as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. SG Americas Securities LLC raised its position in Penumbra by 144.4% during the fourth quarter. SG Americas Securities LLC now owns 11,111 shares of the company's stock worth $3,455,000 after acquiring an additional 6,564 shares in the last quarter. Stephens Investment Management Group LLC bought a new position in shares of Penumbra in the 4th quarter valued at about $37,563,000. New York Life Investment Management LLC bought a new position in shares of Penumbra in the 4th quarter valued at about $999,000. SBI Okasan Asset Management Co.Ltd. acquired a new position in shares of Penumbra during the 4th quarter worth about $2,091,000. Finally, Simplify Asset Management Inc. increased its stake 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 purchasing an additional 7,485 shares during the last quarter. Institutional investors and hedge funds own 88.88% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on PEN shares. Evercore reiterated an "outperform" rating and issued a $320.00 target price on shares of Penumbra in a research note on Monday, July 6th. Weiss Ratings reissued a "hold (c)" rating on shares of Penumbra in a research report on Friday, July 17th. Wall Street Zen upgraded Penumbra to a "hold" rating in a research note on Saturday, May 9th. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $374.00 price objective on shares of Penumbra in a research report on Thursday, June 11th. Finally, Citigroup reduced their target price on Penumbra from $374.00 to $350.00 and set a "neutral" rating for the company in a research note on Thursday, May 7th. Three analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $360.33.

Penumbra Trading Down 0.0%

Shares of PEN stock opened at $318.60 on Monday. The company has a market capitalization of $12.53 billion, a PE ratio of 73.41, a price-to-earnings-growth ratio of 1.98 and a beta of 0.70. 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, Inc. has a 12-month low of $221.26 and a 12-month high of $362.41. The firm has a 50 day moving average price of $319.45 and a two-hundred day moving average price of $330.02.

Penumbra (NYSE:PEN - Get Free Report) last released its quarterly earnings results 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 firm had revenue of $374.76 million for the quarter, compared to analyst estimates of $370.47 million. Penumbra had a return on equity of 10.87% and a net margin of 11.76%.The business's revenue for the quarter was up 15.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.83 earnings per share. As a group, analysts predict that Penumbra, Inc. will post 5.02 earnings per share for the current year.

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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