RTW Investments LP Boosts Position in Penumbra, Inc. (NYSE:PEN)

RTW Investments LP grew its holdings in shares of Penumbra, Inc. (NYSE:PEN - Free Report) by 8.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 862,450 shares of the company's stock after buying an additional 66,700 shares during the quarter. Penumbra accounts for about 3.1% of RTW Investments LP's investment portfolio, making the stock its 12th biggest position. RTW Investments LP owned 2.25% of Penumbra worth $204,815,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of PEN. UMB Bank n.a. boosted its position in Penumbra by 57.4% in the 4th quarter. UMB Bank n.a. now owns 192 shares of the company's stock valued at $46,000 after buying an additional 70 shares during the period. Hurley Capital LLC purchased a new stake in shares of Penumbra in the fourth quarter valued at approximately $56,000. Huntington National Bank grew its stake in Penumbra by 138.7% in the fourth quarter. Huntington National Bank now owns 265 shares of the company's stock worth $63,000 after purchasing an additional 154 shares in the last quarter. Mather Group LLC. grew its stake in Penumbra by 208.0% in the fourth quarter. Mather Group LLC. now owns 308 shares of the company's stock worth $73,000 after purchasing an additional 208 shares in the last quarter. Finally, Jones Financial Companies Lllp increased its holdings in Penumbra by 25.0% during the 4th quarter. Jones Financial Companies Lllp now owns 375 shares of the company's stock worth $89,000 after purchasing an additional 75 shares during the period. 88.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Penumbra

In other news, CEO Adam Elsesser sold 61,600 shares of Penumbra stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $283.59, for a total transaction of $17,469,144.00. Following the completion of the sale, the chief executive officer now directly owns 16,376 shares in the company, valued at approximately $4,644,069.84. The trade was a 79.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Arani Bose sold 12,000 shares of the company's stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $283.77, for a total value of $3,405,240.00. Following the completion of the transaction, the director now directly owns 314,819 shares in the company, valued at approximately $89,336,187.63. The trade was a 3.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 176,696 shares of company stock worth $50,207,745. Insiders own 4.20% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on PEN shares. Needham & Company LLC reiterated a "hold" rating on shares of Penumbra in a report on Wednesday, February 19th. Piper Sandler reaffirmed an "overweight" rating and issued a $330.00 price objective (up from $250.00) on shares of Penumbra in a research note on Wednesday, February 19th. Royal Bank of Canada increased their target price on shares of Penumbra from $315.00 to $330.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. JPMorgan Chase & Co. boosted their price target on shares of Penumbra from $230.00 to $285.00 and gave the company an "overweight" rating in a report on Wednesday, February 19th. Finally, Robert W. Baird upped their price target on shares of Penumbra from $316.00 to $325.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Three investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Penumbra has an average rating of "Moderate Buy" and a consensus target price of $302.40.

Penumbra Stock Down 3.5%

NYSE PEN traded down $9.87 on Wednesday, hitting $271.26. The stock had a trading volume of 80,153 shares, compared to its average volume of 439,895. The business's fifty day moving average price is $280.06 and its 200 day moving average price is $264.41. The stock has a market cap of $10.50 billion, a price-to-earnings ratio of 798.67, a price-to-earnings-growth ratio of 2.83 and a beta of 0.53. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.01 and a quick ratio of 3.25. 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 posted its quarterly earnings data on Wednesday, April 23rd. The company reported $0.83 earnings per share for the quarter, topping analysts' consensus estimates of $0.66 by $0.17. Penumbra had a return on equity of 9.74% and a net margin of 1.17%. The firm had revenue of $324.14 million during the quarter, compared to analysts' expectations of $315.72 million. During the same quarter last year, the firm earned $0.41 EPS. The business's quarterly revenue was up 16.3% on a year-over-year basis. Equities research analysts anticipate that Penumbra, Inc. will post 3.67 earnings per share for the current year.

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.