Kryger Capital LLC Acquires New Holdings in Penumbra, Inc. $PEN

Key Points

• Kryger Capital LLC disclosed a new first-quarter stake in Penumbra, buying 153,848 shares worth about $50.5 million, making the stock its 12th-largest holding and about 3.6% of its portfolio.
• Wall Street sentiment on Penumbra is mixed but mostly cautious: the consensus rating is Hold with a consensus price target of $360.33, while some firms recently trimmed targets or downgraded the stock.
• Penumbra reported better-than-expected revenue of $374.76 million in its latest quarter, but earnings missed estimates; the stock was trading around $318.60 with strong liquidity and a 52-week range of $221.26 to $362.41.

Kryger Capital LLC bought a new stake in Penumbra, Inc. (NYSE:PEN - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 153,848 shares of the company's stock, valued at approximately $50,519,000. Penumbra comprises approximately 3.6% of Kryger Capital LLC's holdings, making the stock its 12th biggest holding. Kryger Capital LLC owned about 0.39% of Penumbra at the end of the most recent quarter.

A number of other large investors 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 fourth quarter. Larson Financial Group LLC now owns 84 shares of the company's stock valued at $26,000 after acquiring an additional 82 shares during the last quarter. CIBC Private Wealth Group LLC raised its stake 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 acquiring an additional 81 shares during the period. Motiv8 Investments LLC acquired a new position in shares of Penumbra in the 4th quarter worth approximately $27,000. Morse Asset Management Inc acquired a new position in shares of Penumbra in the 4th quarter worth approximately $39,000. Finally, Farther Finance Advisors LLC boosted its position in shares of 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 purchasing an additional 38 shares during the period. Institutional investors and hedge funds own 88.88% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PEN. Citigroup dropped their target price 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. Wall Street Zen upgraded Penumbra to a "hold" rating in a research note on Saturday, May 9th. Royal Bank Of Canada restated a "sector perform" rating and set a $374.00 price target on shares of Penumbra in a research report on Thursday, June 11th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Penumbra in a research note on Friday, July 17th. Finally, Zacks Research cut Penumbra from a "hold" rating to a "strong sell" rating in a research note on Monday, June 29th. Three research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $360.33.

Penumbra Trading Up 0.2%

Shares of PEN stock opened at $318.60 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.95 and a current ratio of 6.02. The stock has a market capitalization of $12.53 billion, a P/E ratio of 73.41, a price-to-earnings-growth ratio of 1.97 and a beta of 0.70. The company has a 50 day moving average price of $319.45 and a 200 day moving average price of $329.92. Penumbra, Inc. has a fifty-two week low of $221.26 and a fifty-two week high of $362.41.

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

Penumbra Company 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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