Penumbra, Inc. $PEN Holdings Increased by HBK Investments L P

Key Points

• HBK Investments increased its Penumbra stake by 12.5% in the second quarter, purchasing 204,247 additional shares. It now owns 1.84 million shares worth approximately $580.5 million, representing 4.67% of Penumbra and 5.6% of HBK’s portfolio.
• 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 forecast.
• Shares recently traded at $318.84, while analysts maintain a consensus “Hold” rating with an average price target of $367.07; institutional investors collectively own 88.88% of the stock.

HBK Investments L P grew its holdings in Penumbra, Inc. (NYSE:PEN - Free Report) by 12.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,838,508 shares of the company's stock after purchasing an additional 204,247 shares during the period. Penumbra comprises about 5.6% of HBK Investments L P's investment portfolio, making the stock its 3rd biggest holding. HBK Investments L P owned 4.67% of Penumbra worth $580,509,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Penumbra in the second quarter worth approximately $25,000. Larson Financial Group LLC increased its holdings 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. Keating Financial Advisory Services Inc. purchased a new stake in Penumbra during the second quarter valued at approximately $31,000. Northwestern Mutual Wealth Management Co. bought a new position in Penumbra in the second quarter worth approximately $51,000. Finally, Harbor Investment Advisory LLC bought a new position in Penumbra in the second quarter worth approximately $57,000. Hedge funds and other institutional investors own 88.88% of the company's stock.

Penumbra Price Performance

Shares of PEN stock traded up $0.41 on Wednesday, hitting $318.84. 816,973 shares of the stock traded hands, compared to its average volume of 620,473. The firm has a market cap of $12.56 billion, a price-to-earnings ratio of 78.34, a PEG ratio of 2.20 and a beta of 0.70. Penumbra, Inc. has a 52 week low of $221.26 and a 52 week high of $362.41. The firm has a 50 day simple moving average of $321.53 and a two-hundred day simple moving average of $325.17. 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 (NYSE:PEN - Get Free Report) last issued its earnings results 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). Penumbra had a return on equity of 10.50% and a net margin of 10.67%.The firm had revenue of $390.05 million during the quarter, compared to the consensus estimate of $389.64 million. During the same period in the prior year, the company posted $0.86 EPS. The company's quarterly revenue was up 14.9% on a year-over-year basis. As a group, equities research analysts predict that Penumbra, Inc. will post 4.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on PEN shares. Zacks Research raised shares of Penumbra from a "strong sell" rating to a "hold" rating in a research report on Monday, August 24th. Evercore reaffirmed an "outperform" rating and issued a $320.00 target price on shares of Penumbra in a report on Monday, July 6th. Weiss Ratings reiterated a "hold (c)" rating on shares of Penumbra in a research report on Friday, July 17th. Finally, Royal Bank Of Canada reissued a "sector perform" rating and set a $374.00 price target on shares of Penumbra in a report on Thursday, June 11th. Three analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $367.07.

About Penumbra

Penumbra, Inc NYSE: PEN is a medical device company that develops, manufactures and markets products designed to treat neurovascular, vascular and other medical conditions. Its technologies are used by physicians in minimally invasive procedures, including the removal of blood clots, treatment of aneurysms and management of vascular disorders.

The company's product portfolio includes aspiration and mechanical thrombectomy systems for ischemic stroke and pulmonary embolism, embolization devices for aneurysms and other vascular conditions, and access and peripheral vascular products.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.