Principal Financial Group Inc. Has $28.95 Million Holdings in Penumbra, Inc. $PEN

Key Points

• Principal Financial Group increased its Penumbra stake by 5.1% in the first quarter, ending with 88,178 shares valued at about $28.96 million.
• Institutional ownership remains very high, with 88.88% of Penumbra stock held by institutional investors and hedge funds.
• Analysts are mostly cautious on the stock: Penumbra has an overall Hold rating and a consensus price target of $360.33, while its latest earnings missed EPS expectations despite revenue growing 15.6% year over year.

Principal Financial Group Inc. increased its holdings in Penumbra, Inc. (NYSE:PEN - Free Report) by 5.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 88,178 shares of the company's stock after purchasing an additional 4,263 shares during the quarter. Principal Financial Group Inc. owned approximately 0.22% of Penumbra worth $28,955,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of PEN. Larson Financial Group LLC raised its position in Penumbra by 4,100.0% during the 4th quarter. Larson Financial Group LLC now owns 84 shares of the company's stock worth $26,000 after purchasing an additional 82 shares during the last quarter. CIBC Private Wealth Group LLC grew its position in shares of Penumbra by 2,700.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 84 shares of the company's stock valued at $26,000 after buying an additional 81 shares during the last quarter. Motiv8 Investments LLC bought a new stake in shares of Penumbra in the 4th quarter valued at about $27,000. Morse Asset Management Inc acquired a new stake in shares of Penumbra in the fourth quarter valued at about $39,000. Finally, Farther Finance Advisors LLC increased its stake in shares of Penumbra by 27.1% in the fourth quarter. Farther Finance Advisors LLC now owns 178 shares of the company's stock valued at $55,000 after buying an additional 38 shares during the period. 88.88% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on PEN shares. Wall Street Zen raised Penumbra to a "hold" rating in a research note on Saturday, May 9th. Citigroup decreased their target price on shares of Penumbra from $374.00 to $350.00 and set a "neutral" rating for the company in a research report on Thursday, May 7th. Zacks Research lowered shares of Penumbra from a "hold" rating to a "strong sell" rating in a report on Monday, June 29th. Royal Bank Of Canada restated a "sector perform" rating and issued a $374.00 price target on shares of Penumbra in a research report on Thursday, June 11th. Finally, Evercore reaffirmed an "outperform" rating and issued a $320.00 price objective on shares of Penumbra in a research note on Monday, July 6th. Three investment 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, Penumbra has an average rating of "Hold" and a consensus price target of $360.33.

Penumbra Stock Performance

Shares of PEN opened at $318.51 on Monday. 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 50-day moving average of $319.94 and a 200-day moving average of $329.83. The company has a market cap of $12.53 billion, a PE ratio of 73.39, a P/E/G ratio of 1.97 and a beta of 0.70. Penumbra, Inc. has a one year low of $221.26 and a one year high of $362.41.

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