GAMMA Investing LLC Has $50.70 Million Holdings in Penumbra, Inc. (NYSE:PEN)

GAMMA Investing LLC lifted its stake in shares of Penumbra, Inc. (NYSE:PEN - Free Report) by 42,409.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 189,594 shares of the company's stock after buying an additional 189,148 shares during the quarter. GAMMA Investing LLC owned 0.49% of Penumbra worth $50,699,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Penumbra during the 4th quarter valued at about $573,000. E. Ohman J or Asset Management AB raised its holdings in shares of Penumbra by 10.4% during the 4th quarter. E. Ohman J or Asset Management AB now owns 21,312 shares of the company's stock valued at $5,061,000 after buying an additional 2,000 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Penumbra by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 271,574 shares of the company's stock valued at $64,493,000 after buying an additional 3,807 shares during the period. Allspring Global Investments Holdings LLC grew its stake in Penumbra by 39.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 299,397 shares of the company's stock valued at $71,831,000 after purchasing an additional 85,284 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in Penumbra during the 4th quarter valued at approximately $3,553,000. 88.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. UBS Group restated a "buy" rating and set a $330.00 price objective (up previously from $320.00) on shares of Penumbra in a research note on Thursday, April 24th. Stifel Nicolaus set a $318.00 price objective on Penumbra and gave the company a "buy" rating in a research report on Thursday, April 24th. Canaccord Genuity Group increased 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. BTIG Research reissued a "buy" rating on shares of Penumbra in a research note on Thursday, April 24th. Finally, Bank of America began coverage on Penumbra in a research note on Friday, March 14th. They issued a "buy" rating and a $320.00 price target for the company. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $302.40.

Insider Activity

In other news, CEO Adam Elsesser sold 16,600 shares of the company's stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $276.21, for a total transaction of $4,585,086.00. Following the completion of the sale, the chief executive officer now directly owns 27,752 shares of the company's stock, valued at $7,665,379.92. This represents a 37.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Arani Bose sold 12,000 shares of the company's stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $283.77, for a total value of $3,405,240.00. Following the transaction, the director now directly owns 314,819 shares in the company, valued at $89,336,187.63. The trade was a 3.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 128,845 shares of company stock valued at $36,359,981 over the last three months. Insiders own 4.20% of the company's stock.

Penumbra Price Performance

Shares of Penumbra stock traded up $0.45 during trading on Friday, hitting $258.83. The stock had a trading volume of 376,022 shares, compared to its average volume of 449,110. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.01 and a quick ratio of 3.25. The firm has a market cap of $10.02 billion, a P/E ratio of 761.26, a PEG ratio of 2.83 and a beta of 0.49. The business has a fifty day moving average of $276.89 and a two-hundred day moving average of $266.73. Penumbra, Inc. has a fifty-two week low of $148.00 and a fifty-two week high of $310.00.

Penumbra (NYSE:PEN - Get Free Report) last announced its quarterly earnings data 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. Penumbra had a return on equity of 9.74% and a net margin of 1.17%. The business had revenue of $324.14 million during the quarter, compared to analyst estimates of $315.72 million. During the same quarter in the prior year, the firm posted $0.41 earnings per share. The company's revenue was up 16.3% on a year-over-year basis. On average, sell-side analysts expect that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal year.

Penumbra Profile

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.