SummitTX Capital L.P. Acquires New Position in Penumbra, Inc. $PEN

SummitTX Capital L.P. acquired a new stake in Penumbra, Inc. (NYSE:PEN - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 28,022 shares of the company's stock, valued at approximately $9,202,000. SummitTX Capital L.P. owned about 0.07% of Penumbra as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Larson Financial Group LLC boosted its position in shares of Penumbra by 4,100.0% in 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 increased its holdings in Penumbra by 2,700.0% in the fourth quarter. CIBC Private Wealth Group LLC now owns 84 shares of the company's stock valued at $26,000 after purchasing an additional 81 shares during the last quarter. Motiv8 Investments LLC bought a new stake in Penumbra in the fourth quarter valued at about $27,000. Morse Asset Management Inc acquired a new position in Penumbra in the fourth quarter valued at about $39,000. Finally, 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 valued at $55,000 after buying an additional 38 shares during the period. Institutional investors own 88.88% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PEN. Citigroup reduced 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. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $374.00 price target on shares of Penumbra in a research report on Thursday, June 11th. Weiss Ratings reissued a "hold (c)" rating on shares of Penumbra in a research note on Friday, July 17th. Evercore reissued an "outperform" rating and set a $320.00 price objective on shares of Penumbra in a research note on Monday, July 6th. Finally, Zacks Research cut shares of Penumbra from a "hold" rating to a "strong sell" rating in a report on Monday, June 29th. Three research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $360.33.

Penumbra Stock Down 0.0%

Shares of Penumbra stock opened at $318.60 on Monday. Penumbra, Inc. has a 1 year low of $221.26 and a 1 year high of $362.41. The business has a 50-day moving average of $319.45 and a two-hundred day moving average of $330.02. The company has a market capitalization of $12.53 billion, a P/E ratio of 73.41, a price-to-earnings-growth 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 issued 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 return on equity of 10.87% and a net margin of 11.76%.The company had revenue of $374.76 million for the quarter, compared to the consensus estimate of $370.47 million. During the same period in the prior year, the company earned $0.83 EPS. The firm's revenue was up 15.6% on a year-over-year basis. As a group, equities analysts predict that Penumbra, Inc. will post 5.02 EPS 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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