GABELLI & Co INVESTMENT ADVISERS INC. Acquires Shares of 51,692 Penumbra, Inc. $PEN

GABELLI & Co INVESTMENT ADVISERS INC. bought a new stake in shares of Penumbra, Inc. (NYSE:PEN) during the first quarter, HoldingsChannel reports. The firm bought 51,692 shares of the company’s stock, valued at approximately $16,974,000. Penumbra makes up approximately 2.5% of GABELLI & Co INVESTMENT ADVISERS INC.’s holdings, making the stock its 9th largest holding.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PEN. Royal Bank of Canada increased its stake 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 stake in Penumbra by 209.1% during the second quarter. EverSource Wealth Advisors LLC now owns 272 shares of the company’s stock worth $70,000 after acquiring an additional 184 shares in the last quarter. Cerity Partners LLC boosted its stake in Penumbra by 22.3% during the second quarter. Cerity Partners LLC now owns 10,030 shares of the company’s stock worth $2,574,000 after acquiring an additional 1,829 shares in the last quarter. California Public Employees Retirement System grew its holdings 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. purchased a new stake in Penumbra in the second quarter worth about $1,137,000. 88.88% of the stock is owned by hedge funds and other institutional investors.

Penumbra Price Performance

Shares of NYSE:PEN opened at $318.60 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.95 and a current ratio of 6.02. The firm has a market cap of $12.53 billion, a price-to-earnings ratio of 73.41, a price-to-earnings-growth ratio of 1.97 and a beta of 0.70. The business has a 50-day simple moving average of $319.45 and a two-hundred day simple moving average of $329.92. Penumbra, Inc. has a fifty-two week low of $221.26 and a fifty-two week high of $362.41.

Penumbra (NYSE:PEN) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.24). Penumbra had a net margin of 11.76% and a return on equity of 10.87%. The company had revenue of $374.76 million for the quarter, compared to analysts’ expectations of $370.47 million. During the same period in the previous year, the business earned $0.83 EPS. The business’s revenue was up 15.6% compared to the same quarter last year. On average, analysts expect that Penumbra, Inc. will post 5.02 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on PEN shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Penumbra in a report on Friday, July 17th. Evercore reaffirmed an “outperform” rating and set a $320.00 price objective on shares of Penumbra in a research report on Monday, July 6th. Wall Street Zen upgraded Penumbra to a “hold” rating in a research note on Saturday, May 9th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $374.00 target price on shares of Penumbra in a report on Thursday, June 11th. Finally, Zacks Research cut Penumbra from a “hold” rating to a “strong sell” rating in a research note on Monday, June 29th. Three research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Penumbra currently has a consensus rating of “Hold” and an average target price of $360.33.

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.