Healthcare of Ontario Pension Plan Trust Fund Acquires Shares of 67,850 Penumbra, Inc. $PEN

Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Penumbra, Inc. (NYSE:PEN) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 67,850 shares of the company’s stock, valued at approximately $22,280,000.

Several other institutional investors have also made changes to their positions in PEN. SG Americas Securities LLC increased its stake in Penumbra by 144.4% during the 4th quarter. SG Americas Securities LLC now owns 11,111 shares of the company’s stock worth $3,455,000 after acquiring an additional 6,564 shares during the period. Stephens Investment Management Group LLC acquired a new position in Penumbra in the 4th quarter valued at $37,563,000. New York Life Investment Management LLC bought a new stake in shares of Penumbra during the 4th quarter valued at $999,000. Simplify Asset Management Inc. lifted its position in shares of Penumbra by 89.7% during the 4th quarter. Simplify Asset Management Inc. now owns 15,827 shares of the company’s stock valued at $4,921,000 after acquiring an additional 7,485 shares during the period. Finally, SBI Okasan Asset Management Co.Ltd. acquired a new stake in shares of Penumbra during the 4th quarter worth $2,091,000. 88.88% of the stock is currently owned by institutional investors.

Penumbra Price Performance

Penumbra stock opened at $318.60 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.95 and a current ratio of 6.02. Penumbra, Inc. has a 52 week low of $221.26 and a 52 week high of $362.41. The stock has a market capitalization of $12.53 billion, a P/E ratio of 73.41, a price-to-earnings-growth ratio of 1.98 and a beta of 0.70. The stock has a fifty day moving average of $319.45 and a 200-day moving average of $330.02.

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

Analysts Set New Price Targets

A number of research analysts recently commented on PEN shares. Zacks Research cut Penumbra from a “hold” rating to a “strong sell” rating in a research report on Monday, June 29th. Citigroup reduced their price objective on shares of Penumbra from $374.00 to $350.00 and set a “neutral” rating on the stock in a research note on Thursday, May 7th. Wall Street Zen raised shares of Penumbra to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings restated a “hold (c)” rating on shares of Penumbra in a research report on Friday, July 17th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $374.00 price target on shares of Penumbra in a report on Thursday, June 11th. Three research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target 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.