Primecap Management Co. CA Invests $8.23 Million in Penumbra, Inc. $PEN

Primecap Management Co. CA purchased a new stake in shares of Penumbra, Inc. (NYSE:PEN) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 26,060 shares of the company’s stock, valued at approximately $8,228,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. acquired a new stake in Penumbra during the second quarter worth about $1,356,953,000. Geode Capital Management LLC boosted its holdings in Penumbra by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 766,510 shares of the company’s stock valued at $238,365,000 after purchasing an additional 18,738 shares during the last quarter. Invesco Ltd. boosted its holdings in Penumbra by 1.1% in the 4th quarter. Invesco Ltd. now owns 638,305 shares of the company’s stock valued at $198,455,000 after purchasing an additional 7,211 shares during the last quarter. Artisan Partners Limited Partnership grew its stake 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 valued at $184,715,000 after buying an additional 370,636 shares during the period. Finally, Janus Henderson Group PLC grew its stake in shares of Penumbra by 1.5% in the 4th quarter. Janus Henderson Group PLC now owns 475,898 shares of the company’s stock valued at $147,962,000 after buying an additional 7,050 shares during the period. Institutional investors and hedge funds own 88.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on PEN shares. Weiss Ratings restated a “hold (c)” rating on shares of Penumbra in a report on Friday, July 17th. Evercore reiterated an “outperform” rating and issued a $320.00 price objective on shares of Penumbra in a report on Monday, July 6th. Zacks Research upgraded Penumbra from a “strong sell” rating to a “hold” rating in a research report on Monday. Citigroup cut their target price on Penumbra from $374.00 to $350.00 and set a “neutral” rating for the company in a research note on Thursday, May 7th. Finally, Wall Street Zen upgraded Penumbra to a “hold” rating in a research report on Saturday, May 9th. Three investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s 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

NYSE PEN opened at $323.36 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.75 and a quick ratio of 3.86. The company has a market cap of $12.74 billion, a P/E ratio of 79.45, a P/E/G ratio of 2.01 and a beta of 0.70. The stock has a 50-day moving average of $320.53 and a two-hundred day moving average of $327.04. Penumbra, Inc. has a 1-year low of $221.26 and a 1-year high of $362.41.

Penumbra (NYSE:PEN) last announced its earnings results on Thursday, July 30th. The company reported $0.88 earnings per share for the quarter, missing the consensus estimate of $1.16 by ($0.28). Penumbra had a return on equity of 10.50% and a net margin of 10.67%.The business had revenue of $390.05 million for the quarter, compared to analysts’ expectations of $389.64 million. During the same period in the previous year, the company earned $0.86 earnings per share. Penumbra’s quarterly revenue was up 14.9% on a year-over-year basis. As a group, analysts anticipate that Penumbra, Inc. will post 5.02 EPS 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.