Jupiter Topco LLC Invests $41.13 Million in Penumbra, Inc. $PEN

Key Points

• Jupiter Topco LLC acquired 130,275 Penumbra shares worth approximately $41.1 million, giving it a 0.33% stake. Institutional investors collectively own 88.88% of PEN.
• Penumbra’s latest quarterly revenue rose 14.9% year over year to $390.05 million, slightly exceeding estimates, but EPS of $0.88 missed the $1.16 consensus forecast.
• Analyst sentiment remains cautious: the stock has an average “Hold” rating and a consensus price target of $367.07, compared with a recent share price of $321.51.

Jupiter Topco LLC acquired a new stake in shares of Penumbra, Inc. (NYSE:PEN - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 130,275 shares of the company's stock, valued at approximately $41,133,000. Jupiter Topco LLC owned approximately 0.33% of Penumbra at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of PEN. BlackRock Inc. bought a new stake in Penumbra during the 2nd quarter worth approximately $1,356,953,000. Geode Capital Management LLC raised its holdings in Penumbra by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 766,510 shares of the company's stock worth $238,365,000 after buying an additional 18,738 shares during the period. Invesco Ltd. lifted its stake in Penumbra by 1.1% in the fourth quarter. Invesco Ltd. now owns 638,305 shares of the company's stock valued at $198,455,000 after buying an additional 7,211 shares in the last quarter. Artisan Partners Limited Partnership lifted its stake in Penumbra by 165.9% in the fourth quarter. Artisan Partners Limited Partnership now owns 594,112 shares of the company's stock valued at $184,715,000 after buying an additional 370,636 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in shares of Penumbra by 1.5% in the fourth quarter. Janus Henderson Group PLC now owns 475,898 shares of the company's stock valued at $147,962,000 after buying an additional 7,050 shares during the period. 88.88% of the stock is currently owned by institutional investors and hedge funds.

Penumbra Price Performance

Shares of PEN opened at $321.51 on Friday. The stock has a market capitalization of $12.66 billion, a P/E ratio of 78.99, a P/E/G ratio of 2.00 and a beta of 0.70. Penumbra, Inc. has a twelve month low of $221.26 and a twelve month high of $362.41. The company has a 50 day moving average of $320.62 and a 200-day moving average of $326.90. The company has a quick ratio of 3.86, a current ratio of 5.75 and a debt-to-equity ratio of 0.01.

Penumbra (NYSE:PEN - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The company reported $0.88 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.16 by ($0.28). The business had revenue of $390.05 million during the quarter, compared to analyst estimates of $389.64 million. Penumbra had a net margin of 10.67% and a return on equity of 10.50%. Penumbra's revenue for the quarter was up 14.9% on a year-over-year basis. During the same quarter last year, the business earned $0.86 earnings per share. As a group, equities research analysts forecast that Penumbra, Inc. will post 5.02 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PEN. Zacks Research raised shares of Penumbra from a "strong sell" rating to a "hold" rating in a research report on Monday. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Penumbra in a research report on Friday, July 17th. Evercore reaffirmed an "outperform" rating and issued a $320.00 target price on shares of Penumbra in a research note on Monday, July 6th. Citigroup lowered their target price on Penumbra from $374.00 to $350.00 and set a "neutral" rating for the company in a report on Thursday, May 7th. Finally, Wall Street Zen raised Penumbra to a "hold" rating in a research note on Saturday, May 9th. Three analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $367.07.

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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