Squarepoint Ops LLC Sells 9,393 Shares of Penumbra, Inc. $PEN

Squarepoint Ops LLC trimmed its holdings in Penumbra, Inc. (NYSE:PEN) by 6.4% during the second quarter, Holdings Channel reports. The firm owned 138,413 shares of the company’s stock after selling 9,393 shares during the quarter. Squarepoint Ops LLC’s holdings in Penumbra were worth $43,704,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Penumbra during the 2nd quarter worth approximately $25,000. Larson Financial Group LLC lifted its position in shares of Penumbra by 4,100.0% during the 4th quarter. Larson Financial Group LLC now owns 84 shares of the company’s stock valued at $26,000 after acquiring an additional 82 shares during the period. CIBC Private Wealth Group LLC boosted its stake in Penumbra by 2,700.0% during the fourth quarter. CIBC Private Wealth Group LLC now owns 84 shares of the company’s stock worth $26,000 after acquiring an additional 81 shares in the last quarter. Motiv8 Investments LLC acquired a new stake in Penumbra in the fourth quarter worth $27,000. Finally, Keating Financial Advisory Services Inc. acquired a new stake in Penumbra in the second quarter worth $31,000. Institutional investors and hedge funds own 88.88% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on PEN shares. Zacks Research upgraded Penumbra from a “strong sell” rating to a “hold” rating in a research note on Monday, August 24th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $374.00 price target on shares of Penumbra in a report on Thursday, June 11th. Weiss Ratings restated a “hold (c)” rating on shares of Penumbra in a report on Friday, July 17th. Finally, Evercore reaffirmed an “outperform” rating and set a $320.00 target price on shares of Penumbra in a research report on Monday, July 6th. Three analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $367.07.

Penumbra Stock Performance

PEN stock opened at $319.38 on Wednesday. The firm has a market cap of $12.58 billion, a PE ratio of 78.47, a P/E/G ratio of 2.21 and a beta of 0.70. The company has a quick ratio of 3.86, a current ratio of 5.75 and a debt-to-equity ratio of 0.01. The business has a 50 day moving average of $321.46 and a 200-day moving average of $325.91. Penumbra, Inc. has a 12-month low of $221.26 and a 12-month high of $362.41.

Penumbra (NYSE:PEN) last released its earnings results on Thursday, July 30th. The company reported $0.88 EPS for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.28). The business had revenue of $390.05 million for the quarter, compared to the consensus estimate of $389.64 million. Penumbra had a return on equity of 10.50% and a net margin of 10.67%.The company’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.86 earnings per share. As a group, sell-side analysts expect that Penumbra, Inc. will post 4.96 earnings per share for the current 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.