Adage Capital Partners GP L.L.C. Acquires Shares of 100,495 Penumbra, Inc. (NYSE:PEN)

Adage Capital Partners GP L.L.C. bought a new stake in Penumbra, Inc. (NYSE:PEN - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 100,495 shares of the company's stock, valued at approximately $23,866,000. Adage Capital Partners GP L.L.C. owned 0.26% of Penumbra as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Barclays PLC boosted its position in Penumbra by 16.5% during the third quarter. Barclays PLC now owns 18,025 shares of the company's stock worth $3,502,000 after acquiring an additional 2,559 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in Penumbra during the third quarter worth about $367,000. Wilmington Savings Fund Society FSB acquired a new position in Penumbra in the 3rd quarter valued at about $6,995,000. Tidal Investments LLC grew its stake in shares of Penumbra by 2.7% in the 3rd quarter. Tidal Investments LLC now owns 5,008 shares of the company's stock valued at $973,000 after buying an additional 130 shares during the period. Finally, Franklin Resources Inc. increased its holdings in shares of Penumbra by 8.2% during the 3rd quarter. Franklin Resources Inc. now owns 319,232 shares of the company's stock worth $67,473,000 after buying an additional 24,091 shares during the last quarter. Institutional investors and hedge funds own 88.88% of the company's stock.

Analysts Set New Price Targets

PEN has been the subject of several analyst reports. StockNews.com upgraded Penumbra from a "hold" rating to a "buy" rating in a research report on Thursday, April 24th. JPMorgan Chase & Co. increased their price objective on Penumbra from $230.00 to $285.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 19th. BTIG Research reiterated a "buy" rating on shares of Penumbra in a research report on Thursday, April 24th. Canaccord Genuity Group upped their price target on Penumbra from $323.00 to $340.00 and gave the stock a "buy" rating in a research note on Wednesday, February 19th. Finally, Morgan Stanley upped their price target on Penumbra from $240.00 to $260.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 19th. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $302.40.

Penumbra Price Performance

PEN stock traded down $1.63 on Thursday, reaching $291.21. 253,136 shares of the company's stock were exchanged, compared to its average volume of 425,919. The stock has a fifty day moving average of $276.75 and a 200-day moving average of $256.41. Penumbra, Inc. has a twelve month low of $148.00 and a twelve month high of $310.00. The firm has a market cap of $11.28 billion, a PE ratio of 857.07, a P/E/G ratio of 2.83 and a beta of 0.56. The company has a quick ratio of 3.25, a current ratio of 6.01 and a debt-to-equity ratio of 0.02.

Penumbra (NYSE:PEN - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.17. The company had revenue of $324.14 million for the quarter, compared to analyst estimates of $315.72 million. Penumbra had a return on equity of 9.74% and a net margin of 1.17%. Penumbra's revenue was up 16.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.41 earnings per share. As a group, equities analysts predict that Penumbra, Inc. will post 3.67 EPS for the current fiscal year.

Insider Transactions at Penumbra

In related news, EVP Johanna Roberts sold 600 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $287.43, for a total transaction of $172,458.00. Following the sale, the executive vice president now directly owns 66,539 shares in the company, valued at approximately $19,125,304.77. This trade represents a 0.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Arani Bose sold 12,000 shares of the firm's stock in a transaction dated Friday, April 25th. The shares were sold at an average price of $298.73, for a total value of $3,584,760.00. Following the sale, the director now owns 302,819 shares in the company, valued at approximately $90,461,119.87. The trade was a 3.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 140,446 shares of company stock worth $39,543,953 in the last three months. 5.00% of the stock is currently owned by company insiders.

About Penumbra

Penumbra, Inc, together with its subsidiaries, designs, develops, manufactures, and markets medical devices in the United States and internationally. The company offers peripheral products, including the Indigo System for power aspiration of thrombus in the body; Lightning Flash, a mechanical thrombectomy system; Lightning Bolt 7, an arterial thrombectomy system; and CAT RX.