Man Group plc Takes $25.33 Million Position in Penumbra, Inc. $PEN

Man Group plc bought a new position in shares of Penumbra, Inc. (NYSE:PEN) in the second quarter, HoldingsChannel reports. The firm bought 80,224 shares of the company’s stock, valued at approximately $25,331,000.

Other large investors also recently modified their holdings of the company. BlackRock Inc. bought a new position in Penumbra during the 2nd quarter valued at approximately $1,356,953,000. Whitebox Advisors LLC purchased a new stake in Penumbra in the 1st quarter worth approximately $146,125,000. Artisan Partners Limited Partnership grew its position in shares of Penumbra by 165.9% in the 4th quarter. Artisan Partners Limited Partnership now owns 594,112 shares of the company’s stock worth $184,715,000 after buying an additional 370,636 shares during the last quarter. William Blair Investment Management LLC bought a new stake in shares of Penumbra in the 4th quarter worth approximately $107,567,000. Finally, Amundi increased its stake in shares of Penumbra by 302.9% during the first quarter. Amundi now owns 345,758 shares of the company’s stock valued at $113,537,000 after buying an additional 259,936 shares during the period. 88.88% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PEN. Wall Street Zen raised Penumbra to a “hold” rating in a research note on Saturday, May 9th. Zacks Research upgraded shares of Penumbra from a “strong sell” rating to a “hold” rating in a report on Monday. Citigroup dropped their target price on shares of Penumbra from $374.00 to $350.00 and set a “neutral” rating for the company in a research report on Thursday, May 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Penumbra in a research note on Friday, July 17th. Finally, Evercore reiterated an “outperform” rating and set a $320.00 price target on shares of Penumbra in a research report on Monday, July 6th. Three research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. According to data from MarketBeat.com, Penumbra currently has a consensus rating of “Hold” and a consensus target price of $367.07.

Penumbra Trading Down 0.3%

NYSE PEN opened at $323.36 on Thursday. The firm has a market capitalization of $12.74 billion, a PE ratio of 79.45, a P/E/G ratio of 2.01 and a beta of 0.70. The stock’s 50 day moving average is $320.53 and its 200 day moving average is $327.04. Penumbra, Inc. has a twelve month low of $221.26 and a twelve month high of $362.41. The company has a quick ratio of 3.86, a current ratio of 5.75 and a debt-to-equity ratio of 0.01.

Penumbra (NYSE:PEN) last posted its quarterly earnings data 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). The firm had revenue of $390.05 million during 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%.Penumbra’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.86 EPS. Research analysts forecast that Penumbra, Inc. will post 5.02 earnings per share for the current fiscal 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.