Trillium Asset Management LLC Acquires New Stake in Penumbra, Inc. $PEN

Key Points

• Trillium Asset Management acquired 17,857 Penumbra shares during the second quarter, valued at approximately $5.64 million.
• Several major institutions also increased or initiated positions, including BlackRock’s roughly $1.36 billion stake. Institutional investors collectively own 88.88% of Penumbra’s outstanding shares.
• Analysts maintain a consensus “Hold” rating with an average price target of $367.07. Penumbra’s latest quarterly revenue rose 14.9% year over year to $390.05 million, although EPS of $0.88 fell short of the $1.16 estimate.

Trillium Asset Management LLC acquired a new stake in Penumbra, Inc. (NYSE:PEN - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 17,857 shares of the company's stock, valued at approximately $5,639,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PEN. BlackRock Inc. acquired a new stake in shares of Penumbra in the second quarter valued at about $1,356,953,000. Whitebox Advisors LLC acquired a new position in Penumbra during the first quarter worth about $146,125,000. Artisan Partners Limited Partnership boosted its position in Penumbra by 165.9% during the fourth quarter. Artisan Partners Limited Partnership now owns 594,112 shares of the company's stock worth $184,715,000 after acquiring an additional 370,636 shares during the last quarter. William Blair Investment Management LLC purchased a new stake in Penumbra during the 4th quarter valued at about $107,567,000. Finally, Amundi grew its stake in Penumbra by 302.9% during the 1st quarter. Amundi now owns 345,758 shares of the company's stock valued at $113,537,000 after acquiring an additional 259,936 shares in the last quarter. Institutional investors and hedge funds own 88.88% of the company's stock.

Analyst Upgrades and Downgrades

PEN has been the subject of a number of recent research reports. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $374.00 price objective on shares of Penumbra in a report on Thursday, June 11th. Zacks Research lowered Penumbra from a "hold" rating to a "strong sell" rating in a research report on Monday, June 29th. Citigroup cut their price target on Penumbra from $374.00 to $350.00 and set a "neutral" rating for the company in a report on Thursday, May 7th. Wall Street Zen upgraded Penumbra to a "hold" rating in a research report on Saturday, May 9th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Penumbra in a report on Friday, July 17th. Three investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $367.07.

Penumbra Stock Performance

NYSE:PEN opened at $324.19 on Friday. The company's 50-day moving average is $320.01 and its two-hundred day moving average is $327.72. Penumbra, Inc. has a 1-year low of $221.26 and a 1-year high of $362.41. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.75 and a quick ratio of 3.86. The firm has a market capitalization of $12.77 billion, a price-to-earnings ratio of 79.65, 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). Penumbra had a return on equity of 10.50% and a net margin of 10.67%.The firm had revenue of $390.05 million for the quarter, compared to analyst estimates of $389.64 million. During the same quarter in the prior year, the business earned $0.86 EPS. The firm's quarterly revenue was up 14.9% on a year-over-year basis. Analysts forecast that Penumbra, Inc. will post 5.02 EPS for the current year.

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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