Landscape Capital Management L.L.C. Takes Position in Penumbra, Inc. $PEN

Landscape Capital Management L.L.C. purchased a new stake in Penumbra, Inc. (NYSE:PEN) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 6,411 shares of the company’s stock, valued at approximately $1,993,000.

A number of other hedge funds have also recently made changes to their positions in PEN. Larson Financial Group LLC boosted its position in shares of Penumbra by 4,100.0% during the 4th quarter. Larson Financial Group LLC now owns 84 shares of the company’s stock worth $26,000 after purchasing an additional 82 shares during the period. CIBC Private Wealth Group LLC raised its holdings in shares of Penumbra by 2,700.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 84 shares of the company’s stock valued at $26,000 after purchasing an additional 81 shares in the last quarter. Morse Asset Management Inc acquired a new stake in shares of Penumbra in the 4th quarter valued at $39,000. Rothschild Investment LLC acquired a new stake in shares of Penumbra in the 3rd quarter valued at $40,000. Finally, Farther Finance Advisors LLC raised its holdings in shares of Penumbra by 27.1% in the 4th quarter. Farther Finance Advisors LLC now owns 178 shares of the company’s stock valued at $55,000 after purchasing an additional 38 shares in the last quarter. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Insider Activity

In other news, Director Harpreet Grewal sold 100 shares of the stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $328.22, for a total value of $32,822.00. Following the completion of the sale, the director owned 8,719 shares of the company’s stock, valued at $2,861,750.18. This represents a 1.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PEN. Royal Bank Of Canada reiterated a “sector perform” rating and set a $374.00 price target on shares of Penumbra in a research note on Thursday, June 11th. Wall Street Zen upgraded shares of Penumbra to a “hold” rating in a research note on Saturday, May 9th. Citigroup dropped their price target 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. Evercore reissued an “outperform” rating and set a $335.00 price objective on shares of Penumbra in a report on Thursday, May 7th. Finally, UBS Group reaffirmed a “neutral” rating and issued a $374.00 price target on shares of Penumbra in a report on Thursday, February 26th. Three research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $361.33.

Penumbra Stock Performance

NYSE:PEN opened at $318.10 on Tuesday. Penumbra, Inc. has a 1-year low of $221.26 and a 1-year high of $362.41. 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 firm has a 50 day simple moving average of $325.44 and a 200-day simple moving average of $327.68. The firm has a market cap of $12.51 billion, a PE ratio of 73.29, a P/E/G ratio of 1.95 and a beta of 0.71.

Penumbra (NYSE:PEN) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.82 EPS for the quarter, missing the consensus estimate of $1.06 by ($0.24). Penumbra had a return on equity of 10.87% and a net margin of 11.76%.The company had revenue of $374.76 million for the quarter, compared to analyst estimates of $370.47 million. During the same period last year, the company posted $0.83 EPS. The business’s revenue for the quarter was up 15.6% on a year-over-year basis. On average, equities analysts expect that Penumbra, Inc. will post 5.08 EPS for the current year.

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.