Man Group plc Invests $25.33 Million in Penumbra, Inc. $PEN

Key Points

• Man Group acquired 80,224 Penumbra shares worth approximately $25.33 million during the second quarter, giving it a roughly 0.20% stake. Institutional investors collectively own 88.88% of the company.
• Analysts maintain a generally cautious view, with three Buy ratings and fourteen Holds; Penumbra’s average rating is “Hold” and its average price target is $367.07.
• Penumbra shares opened at $323.36, while the company’s latest quarterly results showed revenue up 14.9% year over year to $390.05 million, but earnings per share of $0.88 missed estimates of $1.16.

Man Group plc 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 13F filing with the SEC. The firm acquired 80,224 shares of the company's stock, valued at approximately $25,331,000. Man Group plc owned approximately 0.20% of Penumbra as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the stock. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Penumbra during the second quarter valued at about $25,000. Larson Financial Group LLC boosted its holdings in shares of Penumbra by 4,100.0% in the 4th quarter. Larson Financial Group LLC now owns 84 shares of the company's stock worth $26,000 after purchasing an additional 82 shares in the last quarter. CIBC Private Wealth Group LLC boosted its holdings 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 worth $26,000 after purchasing an additional 81 shares in the last quarter. Motiv8 Investments LLC bought a new position in shares of Penumbra during the 4th quarter valued at about $27,000. Finally, Keating Financial Advisory Services Inc. bought a new position in shares of Penumbra during the 2nd quarter valued at about $31,000. 88.88% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Weiss Ratings restated a "hold (c)" rating on shares of Penumbra in a research report on Friday, July 17th. Royal Bank Of Canada reiterated a "sector perform" rating and set a $374.00 price target on shares of Penumbra in a research report on Thursday, June 11th. Wall Street Zen raised shares of Penumbra to a "hold" rating in a research note on Saturday, May 9th. Zacks Research upgraded shares of Penumbra from a "strong sell" rating to a "hold" rating in a report on Monday. Finally, Evercore reaffirmed an "outperform" rating and issued a $320.00 price objective on shares of Penumbra in a research note on Monday, July 6th. Three equities research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. According to data from MarketBeat.com, Penumbra currently has an average rating of "Hold" and an average price target of $367.07.

Penumbra Trading Down 0.3%

Shares of PEN stock opened at $323.36 on Thursday. The business has a 50-day moving average of $320.53 and a 200 day moving average of $327.04. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.75 and a quick ratio of 3.86. Penumbra, Inc. has a 1-year low of $221.26 and a 1-year high of $362.41. The stock has a market capitalization of $12.74 billion, a PE ratio of 79.45, a P/E/G ratio of 2.01 and a beta of 0.70.

Penumbra (NYSE:PEN - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The company reported $0.88 earnings per share for the quarter, missing the consensus estimate of $1.16 by ($0.28). The company had revenue of $390.05 million during 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%. The business's revenue for the quarter was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.86 EPS. As a group, sell-side analysts anticipate 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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