Engineers Gate Manager LP Raises Position in Penumbra, Inc. $PEN

Engineers Gate Manager LP raised its position in shares of Penumbra, Inc. (NYSE:PEN) by 1,536.1% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 15,003 shares of the company’s stock after acquiring an additional 14,086 shares during the period. Engineers Gate Manager LP’s holdings in Penumbra were worth $4,737,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PEN. Royal Bank of Canada raised its position in shares of Penumbra by 35.8% in the 1st quarter. Royal Bank of Canada now owns 19,332 shares of the company’s stock worth $5,169,000 after acquiring an additional 5,092 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Penumbra by 209.1% during the second quarter. EverSource Wealth Advisors LLC now owns 272 shares of the company’s stock valued at $70,000 after purchasing an additional 184 shares in the last quarter. Cerity Partners LLC grew its stake in Penumbra by 22.3% in the second quarter. Cerity Partners LLC now owns 10,030 shares of the company’s stock worth $2,574,000 after purchasing an additional 1,829 shares during the period. California Public Employees Retirement System grew its stake in Penumbra by 7.9% in the second quarter. California Public Employees Retirement System now owns 61,027 shares of the company’s stock worth $15,661,000 after purchasing an additional 4,491 shares during the period. Finally, Daiwa Securities Group Inc. bought a new position in Penumbra in the second quarter worth $1,137,000. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Penumbra Stock Up 0.0%

Shares of NYSE:PEN opened at $317.86 on Friday. The company has a current ratio of 5.75, a quick ratio of 3.86 and a debt-to-equity ratio of 0.01. The stock has a fifty day simple moving average of $321.50 and a two-hundred day simple moving average of $325.55. Penumbra, Inc. has a 12-month low of $221.26 and a 12-month high of $362.41. The stock has a market capitalization of $12.52 billion, a price-to-earnings ratio of 78.10, a PEG ratio of 2.18 and a beta of 0.70.

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). Penumbra had a return on equity of 10.50% and a net margin of 10.67%.The company had revenue of $390.05 million during the quarter, compared to analysts’ expectations of $389.64 million. During the same period in the prior year, the company posted $0.86 earnings per share. The company’s revenue was up 14.9% on a year-over-year basis. On average, research analysts anticipate that Penumbra, Inc. will post 4.96 earnings per share for the current fiscal year.

Penumbra Profile

Penumbra, Inc (NYSE:PEN) is a medical device company that develops, manufactures and markets products designed to treat neurovascular, vascular and other medical conditions. Its technologies are used by physicians in minimally invasive procedures, including the removal of blood clots, treatment of aneurysms and management of vascular disorders.

The company’s product portfolio includes aspiration and mechanical thrombectomy systems for ischemic stroke and pulmonary embolism, embolization devices for aneurysms and other vascular conditions, and access and peripheral vascular products.