Caxton Associates LLP Invests $60.64 Million in Penumbra, Inc. $PEN

Caxton Associates LLP bought a new position in Penumbra, Inc. (NYSE:PEN) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 184,663 shares of the company’s stock, valued at approximately $60,638,000. Penumbra comprises 1.4% of Caxton Associates LLP’s portfolio, making the stock its 12th largest holding.

Other large investors have also added to or reduced their stakes in the company. Larson Financial Group LLC boosted its stake in Penumbra by 4,100.0% during the 4th quarter. Larson Financial Group LLC now owns 84 shares of the company’s stock valued at $26,000 after purchasing an additional 82 shares during the last quarter. CIBC Private Wealth Group LLC raised its stake in shares of Penumbra by 2,700.0% in the fourth quarter. CIBC Private Wealth Group LLC now owns 84 shares of the company’s stock worth $26,000 after purchasing an additional 81 shares during the last quarter. Motiv8 Investments LLC bought a new position in shares of Penumbra in the fourth quarter valued at approximately $27,000. Morse Asset Management Inc bought a new position in shares of Penumbra in the fourth quarter valued at approximately $39,000. Finally, Farther Finance Advisors LLC boosted its position in shares of Penumbra by 27.1% during the fourth quarter. Farther Finance Advisors LLC now owns 178 shares of the company’s stock valued at $55,000 after buying an additional 38 shares during the last quarter. Institutional investors own 88.88% of the company’s stock.

Penumbra Trading Up 0.4%

Shares of PEN stock opened at $317.83 on Friday. The company has a quick ratio of 3.95, a current ratio of 6.02 and a debt-to-equity ratio of 0.01. The firm has a market cap of $12.50 billion, a P/E ratio of 73.23, a PEG ratio of 1.96 and a beta of 0.70. The company has a 50 day moving average of $319.53 and a 200-day moving average of $330.00. Penumbra, Inc. has a 12-month low of $221.26 and a 12-month high of $362.41.

Penumbra (NYSE:PEN) last posted its quarterly earnings data 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 net margin of 11.76% and a return on equity of 10.87%. The firm had revenue of $374.76 million during the quarter, compared to analysts’ expectations of $370.47 million. During the same quarter in the previous year, the company posted $0.83 EPS. Penumbra’s revenue for the quarter was up 15.6% on a year-over-year basis. Sell-side analysts anticipate that Penumbra, Inc. will post 5.02 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PEN has been the subject of several recent research reports. Evercore reiterated an “outperform” rating and set a $320.00 price target on shares of Penumbra in a report on Monday, July 6th. Zacks Research cut Penumbra from a “hold” rating to a “strong sell” rating in a research note on Monday, June 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Penumbra in a report on Friday, July 17th. Citigroup reduced 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. Finally, Wall Street Zen upgraded shares of Penumbra to a “hold” rating in a report on Saturday, May 9th. Three investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price 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.