NINE MASTS CAPITAL Ltd Acquires New Position in Penumbra, Inc. $PEN

Key Points

• NINE MASTS CAPITAL acquired 23,264 Penumbra shares worth approximately $7.35 million in the second quarter, representing about 0.06% of the company and 0.7% of the fund’s holdings. Institutional investors collectively own 88.88% of Penumbra.
• Analysts maintain a generally cautious outlook: Penumbra has an average “Hold” rating and a consensus price target of $367.07, with ratings ranging from “Outperform” to “Strong Sell.”
• Penumbra reported quarterly revenue of $390.05 million, up 14.9% year over year and slightly above estimates, but earnings per share of $0.88 missed the $1.16 consensus. The stock opened at $326.86, while its 52-week range is $221.26 to $362.41.

NINE MASTS CAPITAL Ltd bought a new position in Penumbra, Inc. (NYSE:PEN - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 23,264 shares of the company's stock, valued at approximately $7,346,000. Penumbra makes up about 0.7% of NINE MASTS CAPITAL Ltd's holdings, making the stock its 20th biggest position. NINE MASTS CAPITAL Ltd owned approximately 0.06% of Penumbra as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in the business. BlackRock Inc. purchased a new position in shares of Penumbra in the second quarter worth about $1,356,953,000. Whitebox Advisors LLC purchased a new stake in shares of Penumbra during the first quarter valued at approximately $146,125,000. Artisan Partners Limited Partnership grew its holdings in shares of Penumbra by 165.9% in the fourth quarter. Artisan Partners Limited Partnership now owns 594,112 shares of the company's stock worth $184,715,000 after purchasing an additional 370,636 shares during the last quarter. William Blair Investment Management LLC purchased a new position in shares of Penumbra in the fourth quarter worth $107,567,000. Finally, Amundi raised its holdings in Penumbra by 302.9% during the 1st quarter. Amundi now owns 345,758 shares of the company's stock valued at $113,537,000 after buying an additional 259,936 shares during the last quarter. 88.88% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on PEN shares. Weiss Ratings restated a "hold (c)" rating on shares of Penumbra in a research report on Friday, July 17th. Evercore restated an "outperform" rating and set a $320.00 price target on shares of Penumbra in a report on Monday, July 6th. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $374.00 price objective on shares of Penumbra in a report on Thursday, June 11th. Wall Street Zen raised Penumbra to a "hold" rating in a research note on Saturday, May 9th. Finally, Zacks Research lowered Penumbra from a "hold" rating to a "strong sell" rating in a research note on Monday, June 29th. Three investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $367.07.

Penumbra Trading Down 0.0%

NYSE PEN opened at $326.86 on Tuesday. The firm has a market capitalization of $12.88 billion, a PE ratio of 80.31, a P/E/G ratio of 2.03 and a beta of 0.70. The stock's 50 day moving average is $319.66 and its 200 day moving average is $328.41. Penumbra, Inc. has a twelve month low of $221.26 and a twelve month high of $362.41. 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 firm had revenue of $390.05 million during the quarter, compared to the consensus estimate of $389.64 million. Penumbra had a return on equity of 10.50% and a net margin of 10.67%.Penumbra's revenue for the quarter was up 14.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.86 EPS. Research analysts forecast that Penumbra, Inc. will post 5.02 earnings per share for the current fiscal year.

About Penumbra

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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