Penumbra, Inc. $PEN Stock Holdings Lifted by Arrowstreet Capital Limited Partnership

Key Points

• Arrowstreet Capital increased its Penumbra stake by 130.2% in Q1, buying 226,314 additional shares and ending with 400,160 shares worth about $131.4 million.
• Penumbra’s latest quarterly results showed EPS of $0.82, missing analyst expectations of $1.06, while revenue came in at $374.76 million and rose 15.6% year over year.
• Wall Street sentiment remains cautious: the stock carries a consensus “Hold” rating with an average price target of $360.33, while shares recently traded around $318.60.

Arrowstreet Capital Limited Partnership raised its position in shares of Penumbra, Inc. (NYSE:PEN - Free Report) by 130.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 400,160 shares of the company's stock after purchasing an additional 226,314 shares during the period. Arrowstreet Capital Limited Partnership owned 1.02% of Penumbra worth $131,401,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. SG Americas Securities LLC raised its position in shares of Penumbra by 144.4% during the fourth quarter. SG Americas Securities LLC now owns 11,111 shares of the company's stock valued at $3,455,000 after buying an additional 6,564 shares during the last quarter. Stephens Investment Management Group LLC acquired a new position in shares of Penumbra in the fourth quarter valued at $37,563,000. New York Life Investment Management LLC acquired a new position in shares of Penumbra in the fourth quarter valued at $999,000. SBI Okasan Asset Management Co.Ltd. bought a new position in Penumbra in the fourth quarter worth $2,091,000. Finally, Simplify Asset Management Inc. raised its stake in shares of Penumbra by 89.7% in the 4th quarter. Simplify Asset Management Inc. now owns 15,827 shares of the company's stock valued at $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.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PEN. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Penumbra in a report on Friday, July 17th. Citigroup dropped their price objective on Penumbra from $374.00 to $350.00 and set a "neutral" rating for the company in a research note on Thursday, May 7th. Zacks Research cut shares of Penumbra from a "hold" rating to a "strong sell" rating in a research report on Monday, June 29th. Evercore reissued an "outperform" rating and set a $320.00 price target on shares of Penumbra in a report on Monday, July 6th. Finally, Wall Street Zen upgraded shares of Penumbra to a "hold" rating in a research report on Saturday, May 9th. Three investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $360.33.

Penumbra Stock Up 0.2%

Shares of NYSE:PEN opened at $318.60 on Friday. Penumbra, Inc. has a one year low of $221.26 and a one year high of $362.41. The company has a 50 day moving average of $319.45 and a 200-day moving average of $329.92. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.02 and a quick ratio of 3.95. The stock has a market cap of $12.53 billion, a price-to-earnings ratio of 73.41, a P/E/G ratio of 1.98 and a beta of 0.70.

Penumbra (NYSE:PEN - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.82 earnings per share for the quarter, missing analysts' consensus estimates of $1.06 by ($0.24). The business had revenue of $374.76 million for the quarter, compared to the consensus estimate of $370.47 million. Penumbra had a return on equity of 10.87% and a net margin of 11.76%.The company's quarterly revenue was up 15.6% on a year-over-year basis. During the same period last year, the firm earned $0.83 earnings per share. On average, sell-side analysts forecast that Penumbra, Inc. will post 5.02 earnings per share for the current year.

Penumbra Company 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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