Penumbra, Inc. (NYSE:PEN) Stock Holdings Raised by Woodline Partners LP

Woodline Partners LP boosted its stake in shares of Penumbra, Inc. (NYSE:PEN - Free Report) by 396.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 Securities & Exchange Commission.

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

Penumbra Price Performance

Penumbra stock traded down $0.63 during mid-day trading on Thursday, reaching $263.66. The company had a trading volume of 163,197 shares, compared to its average volume of 444,316. Penumbra, Inc. has a 1 year low of $148.00 and a 1 year high of $310.00. 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 company has a market capitalization of $10.21 billion, a P/E ratio of 775.87, a P/E/G ratio of 2.83 and a beta of 0.53. The stock's 50-day simple moving average is $278.93 and its 200-day simple moving average is $265.66.

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

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. BTIG Research reissued a "buy" rating on shares of Penumbra in a research note on Thursday, April 24th. Piper Sandler reissued an "overweight" rating and set a $330.00 target price (up from $250.00) on shares of Penumbra in a research note on Wednesday, February 19th. Bank of America assumed coverage on shares of Penumbra in a research note on Friday, March 14th. They set a "buy" rating and a $320.00 target price on the stock. Morgan Stanley increased their target price on shares of Penumbra from $240.00 to $260.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 19th. Finally, Wells Fargo & Company raised their price target on shares of Penumbra from $305.00 to $315.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $302.40.

Insider Activity

In other Penumbra news, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $287.43, for a total value of $172,458.00. Following the completion of the sale, the executive vice president now directly owns 66,539 shares of the company's stock, valued at approximately $19,125,304.77. The trade was a 0.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas Wilder sold 360 shares of Penumbra stock in a transaction on Monday, March 31st. The shares were sold at an average price of $264.58, for a total transaction of $95,248.80. Following the completion of the transaction, the director now owns 4,533 shares in the company, valued at approximately $1,199,341.14. This trade represents a 7.36% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 176,696 shares of company stock worth $50,207,745 over the last ninety days. 5.00% of the stock is currently owned by 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.