R Squared Ltd Makes New Investment in Penumbra, Inc. $PEN

R Squared Ltd purchased a new position in shares of Penumbra, Inc. (NYSE:PEN) in the 1st quarter, Holdings Channel reports. The institutional investor purchased 2,586 shares of the company’s stock, valued at approximately $849,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Artisan Partners Limited Partnership boosted its holdings in Penumbra by 165.9% in the 4th quarter. Artisan Partners Limited Partnership now owns 594,112 shares of the company’s stock valued at $184,715,000 after purchasing an additional 370,636 shares in the last quarter. William Blair Investment Management LLC acquired a new stake in shares of Penumbra in the 4th quarter valued at approximately $107,567,000. Holocene Advisors LP purchased a new stake in shares of Penumbra in the third quarter valued at approximately $78,585,000. Man Group plc boosted its stake in shares of Penumbra by 1,862.2% in the second quarter. Man Group plc now owns 206,461 shares of the company’s stock valued at $52,984,000 after buying an additional 195,939 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in shares of Penumbra by 139.4% in the second quarter. AQR Capital Management LLC now owns 330,990 shares of the company’s stock valued at $84,939,000 after buying an additional 192,734 shares in the last quarter. Institutional investors and hedge funds own 88.88% of the company’s stock.

Penumbra Price Performance

Shares of NYSE:PEN traded up $0.14 during midday trading on Tuesday, hitting $318.37. 119,309 shares of the stock were exchanged, compared to its average volume of 734,774. The stock has a market cap of $12.52 billion, a P/E ratio of 73.36, a PEG ratio of 1.97 and a beta of 0.70. The company has a current ratio of 6.02, a quick ratio of 3.95 and a debt-to-equity ratio of 0.01. Penumbra, Inc. has a twelve month low of $221.26 and a twelve month high of $362.41. The company has a 50 day moving average price of $321.32 and a 200-day moving average price of $329.68.

Penumbra (NYSE:PEN) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.24). The business had revenue of $374.76 million during the quarter, compared to analyst estimates of $370.47 million. Penumbra had a net margin of 11.76% and a return on equity of 10.87%. Penumbra’s revenue was up 15.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.83 earnings per share. On average, research analysts forecast that Penumbra, Inc. will post 5.04 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PEN has been the subject of several research analyst reports. Wall Street Zen upgraded Penumbra to a “hold” rating in a research report on Saturday, May 9th. Royal Bank Of Canada restated a “sector perform” rating and set a $374.00 target price on shares of Penumbra in a research report on Thursday, June 11th. Zacks Research cut shares of Penumbra from a “hold” rating to a “strong sell” rating in a research note on Monday, June 29th. Evercore reaffirmed an “outperform” rating and set a $320.00 price target on shares of Penumbra in a research note on Monday. Finally, Citigroup cut their price target on shares of Penumbra from $374.00 to $350.00 and set a “neutral” rating for the company in a report on Thursday, May 7th. Three investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $360.33.

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.