Greenland Capital Management LP Takes Position in Penumbra, Inc. $PEN

Greenland Capital Management LP purchased a new stake in Penumbra, Inc. (NYSE:PEN) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 19,750 shares of the company’s stock, valued at approximately $6,236,000. Penumbra comprises 0.8% of Greenland Capital Management LP’s holdings, making the stock its 28th biggest holding. Greenland Capital Management LP owned about 0.05% of Penumbra at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Commerce Bank bought a new stake in Penumbra during the 2nd quarter worth about $1,170,000. Northwestern Mutual Wealth Management Co. bought a new position in shares of Penumbra in the second quarter worth about $51,000. Quantbot Technologies LP bought a new position in shares of Penumbra in the second quarter worth about $631,000. Ieq Capital LLC acquired a new position in shares of Penumbra during the second quarter worth approximately $635,000. Finally, Keating Financial Advisory Services Inc. acquired a new position in shares of Penumbra during the second quarter worth approximately $31,000. Institutional investors and hedge funds own 88.88% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on PEN shares. Wall Street Zen raised shares of Penumbra to a “hold” rating in a report on Saturday, May 9th. Citigroup dropped their price objective on shares of Penumbra from $374.00 to $350.00 and set a “neutral” rating for the company in a research report on Thursday, May 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Penumbra in a report on Friday, July 17th. Zacks Research lowered Penumbra from a “hold” rating to a “strong sell” rating in a research report on Monday, June 29th. Finally, Evercore reissued an “outperform” rating and issued a $320.00 target price on shares of Penumbra in a research note on Monday, July 6th. Three equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $367.07.

Penumbra Trading Up 0.4%

NYSE:PEN opened at $325.14 on Friday. Penumbra, Inc. has a 1-year low of $221.26 and a 1-year high of $362.41. The business’s 50-day moving average price is $320.14 and its two-hundred day moving average price is $327.71. The company has a current ratio of 5.75, a quick ratio of 3.86 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $12.81 billion, a price-to-earnings ratio of 79.89, a PEG ratio of 2.02 and a beta of 0.70.

Penumbra (NYSE:PEN) last posted its earnings results on Thursday, July 30th. The company reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.16 by ($0.28). The company had revenue of $390.05 million for the quarter, compared to analyst estimates of $389.64 million. Penumbra had a return on equity of 10.50% and a net margin of 10.67%.Penumbra’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.86 earnings per share. On average, equities analysts expect that Penumbra, Inc. will post 5.02 earnings per share for the current year.

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.