Picton Mahoney Asset Management Takes $1.03 Million Position in Penumbra, Inc. $PEN

Key Points

• Picton Mahoney Asset Management bought a new stake of 4,058 shares in Penumbra during Q3, valued at about $1.03 million.
• Penumbra beat Q4 estimates (EPS $1.18 vs. $1.12 expected) with revenue up 22.2% year‑over‑year, and sell‑side analysts hold a consensus "Hold" rating with a price target of about $361.69.
• The stock trades with a market cap of roughly $13.36 billion and a PE of 75.35, with institutional investors owning about 88.9% while insiders sold 17,804 shares in the last three months.

Picton Mahoney Asset Management purchased a new stake in Penumbra, Inc. (NYSE:PEN - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 4,058 shares of the company's stock, valued at approximately $1,028,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PEN. Mather Group LLC. bought a new position in shares of Penumbra in the 3rd quarter valued at about $25,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Penumbra during the second quarter worth approximately $30,000. Rothschild Investment LLC acquired a new position in Penumbra in the third quarter valued at approximately $40,000. Parkside Financial Bank & Trust boosted its stake in Penumbra by 70.2% in the second quarter. Parkside Financial Bank & Trust now owns 160 shares of the company's stock valued at $41,000 after acquiring an additional 66 shares during the last quarter. Finally, Covestor Ltd boosted its stake in Penumbra by 53.0% in the third quarter. Covestor Ltd now owns 179 shares of the company's stock valued at $46,000 after acquiring an additional 62 shares during the last quarter. 88.88% of the stock is owned by institutional investors.

Penumbra Trading Up 0.3%

NYSE:PEN opened at $340.56 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.64 and a quick ratio of 4.29. The business's 50-day simple moving average is $337.51 and its 200-day simple moving average is $294.27. Penumbra, Inc. has a fifty-two week low of $221.26 and a fifty-two week high of $362.41. The stock has a market capitalization of $13.36 billion, a PE ratio of 75.35, a price-to-earnings-growth ratio of 2.08 and a beta of 0.81.

Penumbra (NYSE:PEN - Get Free Report) last posted its earnings results on Tuesday, March 3rd. The company reported $1.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.12 by $0.06. The business had revenue of $385.39 million during the quarter, compared to analysts' expectations of $367.18 million. Penumbra had a return on equity of 11.41% and a net margin of 12.66%.Penumbra's revenue for the quarter was up 22.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.97 EPS. Sell-side analysts expect that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on PEN shares. Weiss Ratings reiterated a "hold (c)" rating on shares of Penumbra in a research report on Monday, December 29th. Robert W. Baird reiterated a "neutral" rating and issued a $374.00 price objective (up from $345.00) on shares of Penumbra in a report on Friday, January 16th. UBS Group reissued a "neutral" rating and issued a $374.00 target price on shares of Penumbra in a research note on Thursday, February 26th. Bank of America boosted their target price on Penumbra from $320.00 to $370.00 and gave the stock a "buy" rating in a research report on Monday, January 5th. Finally, Needham & Company LLC downgraded shares of Penumbra from a "buy" rating to a "hold" rating in a research report on Friday, January 16th. Four equities research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $361.69.

Insider Activity at Penumbra

In other Penumbra news, Director Harpreet Grewal sold 186 shares of the stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $312.64, for a total transaction of $58,151.04. Following the completion of the transaction, the director owned 8,230 shares in the company, valued at approximately $2,573,027.20. This represents a 2.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas Wilder sold 186 shares of Penumbra stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $310.72, for a total value of $57,793.92. The SEC filing for this sale provides additional information. Insiders sold 17,804 shares of company stock worth $5,580,719 over the last three months. 4.20% of the stock is currently owned by insiders.

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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