Woodline Partners LP Boosts Stock Holdings 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 raised its holdings in Penumbra, Inc. (NYSE:PEN - Free Report) by 476.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. 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 about 0.38% of Penumbra worth $39,010,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Concurrent Investment Advisors LLC bought a new stake in shares of Penumbra during the first quarter worth approximately $259,000. GAMMA Investing LLC increased its position in Penumbra by 59.0% during the 1st quarter. GAMMA Investing LLC now owns 709 shares of the company's stock worth $190,000 after purchasing an additional 263 shares in the last quarter. Farther Finance Advisors LLC increased its position in Penumbra by 606.3% during the 1st quarter. Farther Finance Advisors LLC now owns 445 shares of the company's stock worth $121,000 after purchasing an additional 382 shares in the last quarter. Gotham Asset Management LLC acquired a new position in Penumbra during the 4th quarter worth approximately $275,000. Finally, Cambridge Investment Research Advisors Inc. acquired a new position in Penumbra in the 1st quarter valued at approximately $2,614,000. Institutional investors own 88.88% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PEN. 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. Wall Street Zen upgraded shares of Penumbra from a "hold" rating to a "buy" rating in a report on Saturday, August 30th. Royal Bank Of Canada dropped their price objective on shares of Penumbra from $330.00 to $325.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 30th. Canaccord Genuity Group set a $350.00 price objective on shares of Penumbra and gave the company a "buy" rating in a research note on Wednesday, July 30th. Finally, William Blair upgraded shares of Penumbra to a "strong-buy" rating in a report on Friday, July 18th. One equities research 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $302.93.

Penumbra Stock Performance

NYSE PEN traded down $2.86 during trading hours on Friday, reaching $273.54. 454,483 shares of the company were exchanged, compared to its average volume of 448,436. Penumbra, Inc. has a 1 year low of $184.80 and a 1 year high of $310.00. The business's 50 day simple moving average is $252.08 and its 200-day simple moving average is $265.12. The company has a quick ratio of 4.04, a current ratio of 6.75 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $10.67 billion, a P/E ratio of 72.75, a P/E/G ratio of 2.49 and a beta of 0.45.

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

Insider Buying and Selling at Penumbra

In related news, CEO Adam Elsesser sold 15,800 shares of the firm's stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $269.65, for a total transaction of $4,260,470.00. Following the completion of the sale, the chief executive officer owned 182,460 shares in the company, valued at approximately $49,200,339. This trade represents a 7.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Johanna Roberts sold 600 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $270.58, for a total transaction of $162,348.00. Following the sale, the executive vice president owned 64,857 shares of the company's stock, valued at $17,549,007.06. This trade represents a 0.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 112,163 shares of company stock valued at $27,932,335 in the last three months. 4.20% of the stock is owned by corporate 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.