Lisanti Capital Growth LLC Buys New Position in Penumbra, Inc. (NYSE:PEN)

Lisanti Capital Growth LLC acquired a new position in shares of Penumbra, Inc. (NYSE:PEN - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,005 shares of the company's stock, valued at approximately $1,071,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Charles Schwab Investment Management Inc. boosted its stake in Penumbra by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 271,574 shares of the company's stock worth $64,493,000 after buying an additional 3,807 shares in the last quarter. Proficio Capital Partners LLC bought a new position in shares of Penumbra during the fourth quarter valued at approximately $3,553,000. HighTower Advisors LLC raised its holdings in Penumbra by 3.2% in the fourth quarter. HighTower Advisors LLC now owns 5,980 shares of the company's stock worth $1,420,000 after purchasing an additional 188 shares in the last quarter. Atria Investments Inc bought a new position in Penumbra in the fourth quarter worth $221,000. Finally, Envestnet Portfolio Solutions Inc. grew its stake in shares of Penumbra by 3.7% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 2,867 shares of the company's stock worth $681,000 after acquiring an additional 101 shares during the last quarter. Hedge funds and other institutional investors own 88.88% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on PEN shares. Bank of America began coverage on Penumbra in a research note on Friday, March 14th. They issued a "buy" rating and a $320.00 target price on the stock. BTIG Research reissued a "buy" rating on shares of Penumbra in a report on Thursday, April 24th. Stifel Nicolaus set a $318.00 target price on Penumbra and gave the company a "buy" rating in a report on Thursday, April 24th. Wells Fargo & Company raised their price objective on Penumbra from $305.00 to $315.00 and gave the stock an "overweight" rating in a research note on Thursday, April 24th. Finally, Royal Bank Of Canada increased their target price on Penumbra from $315.00 to $330.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Penumbra has a consensus rating of "Moderate Buy" and a consensus target price of $302.40.

Penumbra Price Performance

NYSE PEN traded up $2.53 during trading on Friday, hitting $256.11. 512,698 shares of the stock traded hands, compared to its average volume of 451,891. The company has a market capitalization of $9.92 billion, a P/E ratio of 241.62, a price-to-earnings-growth ratio of 2.28 and a beta of 0.49. The company has a quick ratio of 3.68, a current ratio of 6.30 and a debt-to-equity ratio of 0.02. The firm has a 50-day simple moving average of $272.45 and a 200-day simple moving average of $268.08. Penumbra, Inc. has a 12-month low of $148.00 and a 12-month high of $310.00.

Penumbra (NYSE:PEN - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The company reported $0.83 EPS for the quarter, topping analysts' consensus estimates of $0.66 by $0.17. Penumbra had a return on equity of 11.14% and a net margin of 3.41%. The firm had revenue of $324.14 million during the quarter, compared to analysts' expectations of $315.72 million. During the same quarter in the previous year, the business earned $0.41 EPS. The company's quarterly revenue was up 16.3% on a year-over-year basis. As a group, analysts predict that Penumbra, Inc. will post 3.67 EPS for the current year.

Insider Activity at Penumbra

In other news, CEO Adam Elsesser sold 15,890 shares of the business's stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $253.40, for a total value of $4,026,526.00. Following the completion of the transaction, the chief executive officer now directly owns 122,441 shares of the company's stock, valued at approximately $31,026,549.40. The trade was a 11.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Johanna Roberts sold 600 shares of the business's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $269.11, for a total value of $161,466.00. Following the completion of the transaction, the executive vice president now directly owns 66,353 shares of the company's stock, valued at approximately $17,856,255.83. The trade was a 0.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 132,095 shares of company stock worth $36,445,060 in the last quarter. 4.20% of the stock is owned by company insiders.

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.