Woodline Partners LP Boosts Stake in Penumbra, Inc. $PEN

Key Points

• Woodline Partners LP significantly increased its stake in Penumbra, Inc., acquiring 120,558 shares and raising its position by 476.1% in the first quarter, bringing its total holdings to 145,881 shares worth approximately $39 million.
• Major institutional investors, including JPMorgan Chase & Co. and GAMMA Investing LLC, have also made substantial investments in Penumbra during the same period, indicating strong institutional interest in the company.
• Penumbra reported earnings of $0.86 EPS for the latest quarter, exceeding analyst expectations, with a revenue increase of 13.4% year-over-year, and provided FY 2025 earnings guidance.

Woodline Partners LP increased its stake in shares of Penumbra, Inc. (NYSE:PEN - Free Report) by 476.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 145,881 shares of the company's stock after buying an additional 120,558 shares during the period. Woodline Partners LP owned 0.38% of Penumbra worth $39,010,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Synergy Investment Management LLC acquired a new position in shares of Penumbra in the 1st quarter valued at approximately $27,000. First Horizon Advisors Inc. raised its position in shares of Penumbra by 404.8% in the 1st quarter. First Horizon Advisors Inc. now owns 106 shares of the company's stock valued at $28,000 after buying an additional 85 shares in the last quarter. AlphaQuest LLC acquired a new position in shares of Penumbra in the 1st quarter valued at approximately $66,000. Caitong International Asset Management Co. Ltd acquired a new position in Penumbra during the 1st quarter worth approximately $76,000. Finally, Versant Capital Management Inc increased its position in Penumbra by 893.5% during the 1st quarter. Versant Capital Management Inc now owns 308 shares of the company's stock worth $82,000 after purchasing an additional 277 shares in the last quarter. Institutional investors own 88.88% of the company's stock.

Insider Buying and Selling at Penumbra

In other news, CEO Adam Elsesser sold 16,150 shares of the firm's stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $233.16, for a total value of $3,765,534.00. Following the completion of the transaction, the chief executive officer directly owned 146,258 shares in the company, valued at approximately $34,101,515.28. This trade represents a 9.94% 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, Director Arani Bose sold 12,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $250.65, for a total transaction of $3,007,800.00. Following the completion of the transaction, the director owned 558 shares of the company's stock, valued at $139,862.70. This trade represents a 95.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 112,113 shares of company stock worth $27,919,346 over the last ninety days. Company insiders own 4.20% of the company's stock.

Penumbra Stock Down 1.3%

Shares of PEN stock traded down $3.64 on Monday, hitting $269.10. The stock had a trading volume of 82,726 shares, compared to its average volume of 493,393. The business has a 50 day moving average of $252.08 and a 200 day moving average of $264.82. The stock has a market cap of $10.49 billion, a price-to-earnings ratio of 71.57, a price-to-earnings-growth ratio of 2.46 and a beta of 0.45. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.75 and a quick ratio of 4.04. Penumbra, Inc. has a 12-month low of $184.80 and a 12-month high of $310.00.

Penumbra (NYSE:PEN - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.81 by $0.05. The company had revenue of $339.46 million during the quarter, compared to the consensus estimate of $327.37 million. Penumbra had a net margin of 11.54% and a return on equity of 11.55%. The firm's revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.64 earnings per share. Penumbra has set its FY 2025 guidance at EPS. As a group, analysts expect that Penumbra, Inc. will post 3.67 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on PEN shares. Evercore ISI started coverage on shares of Penumbra in a research report on Tuesday, September 2nd. They issued an "outperform" rating and a $300.00 price target for the company. Citigroup decreased their price target on shares of Penumbra from $320.00 to $285.00 and set a "neutral" rating for the company in a research report on Wednesday, July 9th. William Blair upgraded shares of Penumbra to a "strong-buy" rating in a research report on Friday, July 18th. Morgan Stanley upped their price target on shares of Penumbra from $260.00 to $266.00 and gave the company an "equal weight" rating in a research report on Thursday, July 31st. Finally, Wall Street Zen upgraded shares of Penumbra from a "hold" rating to a "buy" rating in a research report on Saturday, August 30th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, Penumbra currently has an average rating of "Moderate Buy" and a consensus target price of $302.93.

Penumbra Company 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.