Penumbra, Inc. $PEN Shares Acquired by Fifth Third Bancorp

Key Points

• Fifth Third Bancorp boosted its Penumbra stake by 2,993.8% in the first quarter, ending with 9,467 shares valued at about $3.11 million. Several other institutional investors also recently increased or initiated positions, and hedge funds now own 88.88% of the stock.
• Penumbra shares were up slightly and opened at $318.51, with the company carrying a market cap of $12.53 billion. The stock has traded between $221.26 and $362.41 over the past 52 weeks.
• Penumbra reported quarterly EPS of $0.82, missing analyst expectations of $1.06, though revenue came in at $374.76 million and rose 15.6% year over year. Analysts currently have a consensus Hold rating with an average price target of $360.33.

Fifth Third Bancorp increased its position in shares of Penumbra, Inc. (NYSE:PEN - Free Report) by 2,993.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,467 shares of the company's stock after buying an additional 9,161 shares during the period. Fifth Third Bancorp's holdings in Penumbra were worth $3,109,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. SG Americas Securities LLC increased its holdings in Penumbra by 144.4% during the 4th quarter. SG Americas Securities LLC now owns 11,111 shares of the company's stock worth $3,455,000 after purchasing an additional 6,564 shares during the last quarter. Stephens Investment Management Group LLC purchased a new position in shares of Penumbra during the 4th quarter valued at approximately $37,563,000. New York Life Investment Management LLC acquired a new stake in shares of Penumbra during the fourth quarter worth approximately $999,000. SBI Okasan Asset Management Co.Ltd. acquired a new stake in shares of Penumbra during the fourth quarter worth approximately $2,091,000. Finally, Simplify Asset Management Inc. grew its position in shares of Penumbra by 89.7% during the fourth quarter. Simplify Asset Management Inc. now owns 15,827 shares of the company's stock worth $4,921,000 after buying an additional 7,485 shares in the last quarter. 88.88% of the stock is currently owned by institutional investors and hedge funds.

Penumbra Stock Up 0.1%

Penumbra stock opened at $318.51 on Monday. Penumbra, Inc. has a 52 week low of $221.26 and a 52 week high of $362.41. The stock has a market cap of $12.53 billion, a price-to-earnings ratio of 73.39, a PEG ratio of 1.97 and a beta of 0.70. The company's 50-day moving average price is $319.94 and its two-hundred day moving average price is $329.83. The company has a current ratio of 6.02, a quick ratio of 3.95 and a debt-to-equity ratio of 0.01.

Penumbra (NYSE:PEN - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.06 by ($0.24). Penumbra had a net margin of 11.76% and a return on equity of 10.87%. The company had revenue of $374.76 million during the quarter, compared to the consensus estimate of $370.47 million. During the same quarter last year, the business earned $0.83 earnings per share. The company's revenue was up 15.6% on a year-over-year basis. On average, analysts expect that Penumbra, Inc. will post 5.04 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on PEN shares. Evercore reaffirmed an "outperform" rating and issued a $320.00 price target on shares of Penumbra in a report on Monday, July 6th. Zacks Research downgraded shares of Penumbra from a "hold" rating to a "strong sell" rating in a research report on Monday, June 29th. Royal Bank Of Canada restated a "sector perform" rating and issued a $374.00 target price on shares of Penumbra in a research note on Thursday, June 11th. Wall Street Zen raised shares of Penumbra to a "hold" rating in a research report on Saturday, May 9th. Finally, Citigroup lowered their price objective on Penumbra from $374.00 to $350.00 and set a "neutral" rating for the company in a report on Thursday, May 7th. Three research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $360.33.

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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