Polar Asset Management Partners Inc. Purchases New Position in Penumbra, Inc. $PEN

Key Points

• Polar Asset Management Partners purchased 7,000 Penumbra shares in the first quarter, valued at approximately $2.3 million. Institutional investors collectively own 88.88% of the company.
• Penumbra reported quarterly revenue of $374.76 million, up 15.6% year over year and above estimates, but earnings per share of $0.82 missed the $1.06 consensus forecast.
• Analysts maintain a consensus “Hold” rating, with a $360.33 average price target. Penumbra shares recently traded near $319.46, while the stock’s one-year range is $221.26 to $362.41.

Polar Asset Management Partners Inc. purchased a new stake in shares of Penumbra, Inc. (NYSE:PEN - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 7,000 shares of the company's stock, valued at approximately $2,299,000.

Several other institutional investors and hedge funds have also bought and sold shares of PEN. Hsbc Holdings PLC increased its stake in shares of Penumbra by 2.3% during the fourth quarter. Hsbc Holdings PLC now owns 1,527 shares of the company's stock valued at $475,000 after buying an additional 35 shares during the period. Farther Finance Advisors LLC lifted its stake in Penumbra by 27.1% in the fourth quarter. Farther Finance Advisors LLC now owns 178 shares of the company's stock worth $55,000 after acquiring an additional 38 shares during the period. Swiss Life Asset Management Ltd boosted its holdings in Penumbra by 2.3% in the fourth quarter. Swiss Life Asset Management Ltd now owns 1,728 shares of the company's stock valued at $537,000 after acquiring an additional 39 shares in the last quarter. Keybank National Association OH boosted its holdings in Penumbra by 1.2% in the fourth quarter. Keybank National Association OH now owns 3,705 shares of the company's stock valued at $1,152,000 after acquiring an additional 43 shares in the last quarter. Finally, UMB Bank n.a. raised its holdings in Penumbra by 11.3% in the 4th quarter. UMB Bank n.a. now owns 442 shares of the company's stock worth $137,000 after purchasing an additional 45 shares in the last quarter. Hedge funds and other institutional investors own 88.88% of the company's stock.

Penumbra Stock Performance

Shares of Penumbra stock opened at $319.46 on Tuesday. Penumbra, Inc. has a 1 year low of $221.26 and a 1 year high of $362.41. The firm's 50-day moving average is $319.32 and its 200 day moving average is $330.05. The stock has a market cap of $12.56 billion, a price-to-earnings ratio of 73.61, a PEG ratio of 1.98 and a beta of 0.70. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.02 and a quick ratio of 3.95.

Penumbra (NYSE:PEN - Get Free Report) last released 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 business had revenue of $374.76 million during the quarter, compared to the consensus estimate of $370.47 million. During the same period last year, the company posted $0.83 earnings per share. The business's revenue was up 15.6% compared to the same quarter last year. Sell-side analysts anticipate that Penumbra, Inc. will post 5.02 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Penumbra in a research report on Friday, July 17th. Evercore reissued an "outperform" rating and issued a $320.00 price target on shares of Penumbra in a research note on Monday, July 6th. Wall Street Zen upgraded shares of Penumbra to a "hold" rating in a report on Saturday, May 9th. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $374.00 price objective on shares of Penumbra in a research report on Thursday, June 11th. Finally, Citigroup decreased their target price on Penumbra from $374.00 to $350.00 and set a "neutral" rating for the company in a research report on Thursday, May 7th. Three research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus 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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