First Trust Advisors LP Has $24.70 Million Stock Position in Penumbra, Inc. $PEN

First Trust Advisors LP increased its stake in shares of Penumbra, Inc. (NYSE:PEN) by 191.2% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 75,223 shares of the company’s stock after acquiring an additional 49,387 shares during the period. First Trust Advisors LP’s holdings in Penumbra were worth $24,701,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of PEN. Royal Bank of Canada raised its stake in shares of Penumbra by 35.8% during the 1st quarter. Royal Bank of Canada now owns 19,332 shares of the company’s stock worth $5,169,000 after purchasing an additional 5,092 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Penumbra by 209.1% in the second quarter. EverSource Wealth Advisors LLC now owns 272 shares of the company’s stock valued at $70,000 after buying an additional 184 shares in the last quarter. Cerity Partners LLC grew its stake in shares of Penumbra by 22.3% in the second quarter. Cerity Partners LLC now owns 10,030 shares of the company’s stock valued at $2,574,000 after buying an additional 1,829 shares in the last quarter. California Public Employees Retirement System increased its holdings in Penumbra by 7.9% during the second quarter. California Public Employees Retirement System now owns 61,027 shares of the company’s stock worth $15,661,000 after buying an additional 4,491 shares during the last quarter. Finally, Daiwa Securities Group Inc. bought a new stake in Penumbra during the second quarter worth $1,137,000. 88.88% of the stock is owned by institutional investors and hedge funds.

Penumbra Trading Up 0.2%

PEN stock opened at $320.00 on Wednesday. The stock has a market cap of $12.59 billion, a price-to-earnings ratio of 73.73, a price-to-earnings-growth ratio of 1.98 and a beta of 0.70. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.02 and a quick ratio of 3.95. The company has a fifty day moving average price of $319.19 and a two-hundred day moving average price of $330.07. Penumbra, Inc. has a one year low of $221.26 and a one year high of $362.41.

Penumbra (NYSE:PEN) last released its quarterly earnings results 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 company had revenue of $374.76 million during the quarter, compared to the consensus estimate of $370.47 million. During the same period in the prior year, the company earned $0.83 earnings per share. The firm’s revenue was up 15.6% compared to the same quarter last year. Equities analysts anticipate that Penumbra, Inc. will post 5.02 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on PEN. Weiss Ratings reiterated a “hold (c)” rating on shares of Penumbra in a research note on Friday, July 17th. Evercore reaffirmed an “outperform” rating and issued a $320.00 target price on shares of Penumbra in a report on Monday, July 6th. Citigroup cut their target price on shares of Penumbra from $374.00 to $350.00 and set a “neutral” rating for the company in a research note on Thursday, May 7th. Zacks Research cut Penumbra from a “hold” rating to a “strong sell” rating in a report on Monday, June 29th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and set a $374.00 price target on shares of Penumbra in a research report on Thursday, June 11th. Three research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $360.33.

Penumbra Company 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.