Havemeyer Place LP Takes Position in Penumbra, Inc. $PEN

Havemeyer Place LP acquired a new stake in Penumbra, Inc. (NYSE:PEN) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 4,828 shares of the company’s stock, valued at approximately $1,501,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PEN. Royal Bank of Canada increased its position in Penumbra by 35.8% in the 1st quarter. Royal Bank of Canada now owns 19,332 shares of the company’s stock valued at $5,169,000 after buying an additional 5,092 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Penumbra by 209.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 272 shares of the company’s stock valued at $70,000 after purchasing an additional 184 shares during the last quarter. Cerity Partners LLC boosted its stake in Penumbra by 22.3% during the 2nd quarter. Cerity Partners LLC now owns 10,030 shares of the company’s stock valued at $2,574,000 after purchasing an additional 1,829 shares during the last quarter. California Public Employees Retirement System boosted its stake in shares of Penumbra by 7.9% in the 2nd 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. purchased a new position in shares of Penumbra in the 2nd quarter worth approximately $1,137,000. 88.88% of the stock is owned by institutional investors.

Penumbra Stock Performance

NYSE PEN opened at $320.51 on Friday. The company has a 50-day simple moving average of $326.86 and a two-hundred day simple moving average of $326.01. The company has a quick ratio of 3.95, a current ratio of 6.02 and a debt-to-equity ratio of 0.01. Penumbra, Inc. has a 12-month low of $221.26 and a 12-month high of $362.41. The firm has a market cap of $12.61 billion, a price-to-earnings ratio of 73.85, a PEG ratio of 1.96 and a beta of 0.71.

Penumbra (NYSE:PEN) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.82 earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of $370.47 million. During the same quarter in the previous year, the company earned $0.83 earnings per share. The business’s quarterly revenue was up 15.6% on a year-over-year basis. On average, equities analysts forecast that Penumbra, Inc. will post 5.08 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. UBS Group reiterated a “neutral” rating and issued a $374.00 price objective on shares of Penumbra in a research note on Thursday, February 26th. Evercore reissued an “outperform” rating and issued a $335.00 target price on shares of Penumbra in a research note on Thursday, May 7th. Citigroup reduced their target price on Penumbra from $374.00 to $350.00 and set a “neutral” rating on the stock in a research note on Thursday, May 7th. Finally, Wall Street Zen upgraded shares of Penumbra to a “hold” rating in a research report on Saturday, May 9th. Three equities research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $361.33.

Insider Buying and Selling at Penumbra

In other news, Director Harpreet Grewal sold 100 shares of the stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $328.22, for a total transaction of $32,822.00. Following the completion of the sale, the director directly owned 8,719 shares in the company, valued at approximately $2,861,750.18. This represents a 1.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 2.90% of the company’s stock.

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.