Woodline Partners LP Purchases 20,218 Shares of Penumbra, Inc. (NYSE:PEN)

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

Other hedge funds also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Penumbra in the 4th quarter valued at approximately $573,000. E. Ohman J or Asset Management AB grew its position in 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 worth $5,061,000 after purchasing an additional 2,000 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Penumbra by 1.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 271,574 shares of the company's stock worth $64,493,000 after acquiring an additional 3,807 shares during the period. Washington Capital Management Inc. acquired a new stake in shares of Penumbra in the fourth quarter valued at about $226,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Penumbra by 39.8% in the fourth 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 during the period. 88.88% of the stock is currently owned by institutional investors and hedge funds.

Penumbra Stock Performance

PEN stock traded up $3.87 during trading on Tuesday, hitting $272.41. 275,276 shares of the company's stock traded hands, compared to its average volume of 443,318. The stock has a fifty day moving average price of $279.45 and a two-hundred day moving average price of $265.62. The stock has a market capitalization of $10.55 billion, a price-to-earnings ratio of 801.21, a price-to-earnings-growth ratio of 2.83 and a beta of 0.53. 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, Inc. has a 52 week low of $148.00 and a 52 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 net margin of 1.17% and a return on equity of 9.74%. The company's quarterly revenue was up 16.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.41 earnings per share. As a group, equities analysts anticipate that Penumbra, Inc. will post 3.67 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PEN has been the subject of several recent analyst reports. Bank of America started coverage on shares of Penumbra in a research note on Friday, March 14th. They issued a "buy" rating and a $320.00 price objective for the company. Royal Bank of Canada boosted their target price on shares of Penumbra from $315.00 to $330.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Needham & Company LLC reissued a "hold" rating on shares of Penumbra in a research report on Wednesday, February 19th. BTIG Research reissued a "buy" rating on shares of Penumbra in a research report on Thursday, April 24th. Finally, Wall Street Zen cut shares of Penumbra from a "strong-buy" rating to a "buy" rating in a report on Saturday. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $302.40.

Insider Transactions at Penumbra

In related news, Director Bridget O'rourke sold 100 shares of the stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $286.15, for a total value of $28,615.00. Following the completion of the transaction, the director now owns 5,423 shares in the company, valued at $1,551,791.45. This represents a 1.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Johanna Roberts sold 600 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $287.43, for a total transaction of $172,458.00. Following the transaction, the executive vice president now owns 66,539 shares of the company's stock, valued at approximately $19,125,304.77. This trade represents a 0.89% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 176,696 shares of company stock worth $50,207,745. Insiders own 5.00% of the company's stock.

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.