S&CO Inc. Takes Position in Penumbra, Inc. $PEN

Key Points

• S&CO Inc. initiated a position in Penumbra during the second quarter, purchasing 5,500 shares valued at approximately $1.74 million. Institutional investors collectively own 88.88% of PEN.
• Analysts maintain a generally cautious outlook, with a consensus “Hold” rating and an average price target of $367.07; ratings range from Buy to Strong Sell.
• Penumbra’s quarterly revenue rose 14.9% year over year to $390.05 million, but EPS of $0.88 missed the $1.16 consensus estimate. The stock opened at $326.91 and trades at a relatively high P/E ratio of 80.32.

S&CO Inc. purchased a new position in Penumbra, Inc. (NYSE:PEN - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 5,500 shares of the company's stock, valued at approximately $1,736,000.

Several other hedge funds have also recently made changes to their positions in PEN. Geode Capital Management LLC grew its position in Penumbra by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 766,510 shares of the company's stock worth $238,365,000 after purchasing an additional 18,738 shares during the period. Invesco Ltd. raised its stake in Penumbra by 1.1% during the 4th quarter. Invesco Ltd. now owns 638,305 shares of the company's stock valued at $198,455,000 after buying an additional 7,211 shares during the last quarter. Artisan Partners Limited Partnership lifted its holdings in shares of Penumbra by 165.9% during the 4th quarter. Artisan Partners Limited Partnership now owns 594,112 shares of the company's stock valued at $184,715,000 after buying an additional 370,636 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of Penumbra by 1.5% during the 4th quarter. Janus Henderson Group PLC now owns 475,898 shares of the company's stock valued at $147,962,000 after buying an additional 7,050 shares during the period. Finally, Whitebox Advisors LLC purchased a new position in shares of Penumbra in the 1st quarter worth $146,125,000. 88.88% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on PEN. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Penumbra in a report on Friday, July 17th. Citigroup lowered their target price on Penumbra from $374.00 to $350.00 and set a "neutral" rating on the stock in a report on Thursday, May 7th. Evercore reissued an "outperform" rating and issued a $320.00 target price on shares of Penumbra in a research report on Monday, July 6th. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $374.00 price target on shares of Penumbra in a research report on Thursday, June 11th. Finally, Zacks Research downgraded shares of Penumbra from a "hold" rating to a "strong sell" rating in a report on Monday, June 29th. Three equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $367.07.

Penumbra Trading Up 0.0%

PEN stock opened at $326.91 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.75 and a quick ratio of 3.86. Penumbra, Inc. has a 1-year low of $221.26 and a 1-year high of $362.41. The business has a 50 day simple moving average of $319.53 and a two-hundred day simple moving average of $328.85. The company has a market capitalization of $12.88 billion, a price-to-earnings ratio of 80.32, a PEG ratio of 2.03 and a beta of 0.70.

Penumbra (NYSE:PEN - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The company reported $0.88 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.16 by ($0.28). The company had revenue of $390.05 million during the quarter, compared to the consensus estimate of $389.64 million. Penumbra had a net margin of 10.67% and a return on equity of 10.50%. The business's revenue was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.86 earnings per share. Research analysts anticipate that Penumbra, Inc. will post 5.02 EPS for the current fiscal year.

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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