Woodline Partners LP Raises Stake in Penumbra, Inc. (NYSE:PEN)

Woodline Partners LP increased its position in shares of Penumbra, Inc. (NYSE:PEN - Free Report) by 396.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 25,323 shares of the company's stock after buying an additional 20,218 shares during the period. Woodline Partners LP owned 0.07% of Penumbra worth $6,014,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC raised its stake in Penumbra by 6.6% in the 4th quarter. Quadrant Capital Group LLC now owns 632 shares of the company's stock valued at $150,000 after purchasing an additional 39 shares during the last quarter. Baker Avenue Asset Management LP grew its holdings in shares of Penumbra by 1.6% during the fourth quarter. Baker Avenue Asset Management LP now owns 3,330 shares of the company's stock worth $791,000 after buying an additional 53 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of Penumbra by 1.0% in the fourth quarter. Pacer Advisors Inc. now owns 5,721 shares of the company's stock valued at $1,359,000 after buying an additional 57 shares during the last quarter. CIBC Asset Management Inc raised its position in shares of Penumbra by 5.4% in the fourth quarter. CIBC Asset Management Inc now owns 1,183 shares of the company's stock valued at $281,000 after buying an additional 61 shares during the last quarter. Finally, Corient Private Wealth LLC lifted its stake in shares of Penumbra by 3.7% in the fourth quarter. Corient Private Wealth LLC now owns 1,695 shares of the company's stock worth $403,000 after buying an additional 61 shares in the last quarter. Institutional investors and hedge funds own 88.88% of the company's stock.

Penumbra Trading Down 3.1%

Shares of PEN stock traded down $8.55 during trading hours on Wednesday, hitting $264.08. The company had a trading volume of 749,585 shares, compared to its average volume of 444,539. 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 stock has a market capitalization of $10.23 billion, a PE ratio of 776.71, a price-to-earnings-growth ratio of 2.83 and a beta of 0.53. The company's fifty day moving average is $279.26 and its 200 day moving average is $265.67. 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 released its quarterly earnings results on Wednesday, April 23rd. The company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.66 by $0.17. The business had revenue of $324.14 million during 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%. The company's quarterly revenue was up 16.3% on a year-over-year basis. During the same period last year, the business posted $0.41 earnings per share. Research analysts expect that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have commented on PEN shares. Piper Sandler reiterated an "overweight" rating and issued a $330.00 price objective (up previously from $250.00) on shares of Penumbra in a report on Wednesday, February 19th. Bank of America initiated coverage on Penumbra in a research report on Friday, March 14th. They issued a "buy" rating and a $320.00 price target for the company. Wells Fargo & Company lifted their price objective on Penumbra from $305.00 to $315.00 and gave the stock an "overweight" rating in a research report on Thursday, April 24th. Canaccord Genuity Group boosted their price objective on Penumbra from $323.00 to $340.00 and gave the stock a "buy" rating in a research note on Wednesday, February 19th. Finally, Royal Bank of Canada raised their target price on Penumbra from $315.00 to $330.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $302.40.

Insider Buying and Selling at Penumbra

In other news, EVP Johanna Roberts sold 600 shares of the company's stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $300.01, for a total transaction of $180,006.00. Following the sale, the executive vice president now owns 66,159 shares of the company's stock, valued at approximately $19,848,361.59. This represents a 0.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Lambert Shiu sold 501 shares of the stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $282.88, for a total value of $141,722.88. Following the completion of the sale, the chief accounting officer now owns 32,969 shares in the company, valued at approximately $9,326,270.72. The trade was a 1.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 176,696 shares of company stock valued at $50,207,745 in the last three months. 5.00% of the stock is owned by corporate 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.