Odyssean LLC Buys 4,932 Shares of Penumbra, Inc. $PEN

Key Points

• Odyssean LLC more than doubled its Penumbra stake in the second quarter, buying 4,932 additional shares to own 9,328 shares valued at approximately $2.95 million.
• Penumbra reported quarterly revenue of $390.05 million, up 14.9% year over year and slightly above expectations, but earnings of $0.88 per share fell short of the $1.16 consensus estimate.
• Shares opened at $322.28, while analysts maintained a predominantly cautious outlook: 14 analysts rated the stock Hold and three rated it Buy, with an average price target of $367.07.

Odyssean LLC boosted its stake in Penumbra, Inc. (NYSE:PEN - Free Report) by 112.2% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,328 shares of the company's stock after purchasing an additional 4,932 shares during the quarter. Odyssean LLC's holdings in Penumbra were worth $2,945,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Penumbra in the second quarter worth about $25,000. Larson Financial Group LLC boosted its stake in 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 buying an additional 82 shares during the last quarter. CIBC Private Wealth Group LLC grew its holdings in Penumbra by 2,700.0% during the 4th quarter. CIBC Private Wealth Group LLC now owns 84 shares of the company's stock valued at $26,000 after buying an additional 81 shares in the last quarter. Motiv8 Investments LLC purchased a new position in Penumbra during the 4th quarter valued at approximately $27,000. Finally, Keating Financial Advisory Services Inc. bought a new stake in Penumbra in the 2nd quarter worth approximately $31,000. Institutional investors own 88.88% of the company's stock.

Penumbra Stock Performance

NYSE:PEN opened at $322.28 on Friday. The stock's fifty day moving average is $321.25 and its 200 day moving average is $326.29. Penumbra, Inc. has a fifty-two week low of $221.26 and a fifty-two week high of $362.41. The firm has a market capitalization of $12.69 billion, a PE ratio of 79.18, a PEG ratio of 2.21 and a beta of 0.70. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.86 and a current ratio of 5.75.

Penumbra (NYSE:PEN - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The company reported $0.88 EPS for the quarter, missing the consensus estimate of $1.16 by ($0.28). Penumbra had a return on equity of 10.50% and a net margin of 10.67%.The firm had revenue of $390.05 million for the quarter, compared to analysts' expectations of $389.64 million. During the same period in the previous year, the firm earned $0.86 earnings per share. The firm's quarterly revenue was up 14.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Penumbra, Inc. will post 4.96 earnings per share for the current year.

Analyst Upgrades and Downgrades

PEN has been the subject of a number of research reports. Weiss Ratings reiterated a "hold (c)" rating on shares of Penumbra in a research report on Friday, July 17th. Evercore reaffirmed an "outperform" rating and set a $320.00 price target on shares of Penumbra in a research note on Monday, July 6th. Royal Bank Of Canada reiterated a "sector perform" rating and set a $374.00 price objective 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. Finally, Zacks Research upgraded shares of Penumbra from a "strong sell" rating to a "hold" rating in a report on Monday, August 24th. Three research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average 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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