Braidwell LP Has $43.66 Million Holdings in Penumbra, Inc. (NYSE:PEN)

Braidwell LP lessened its stake in shares of Penumbra, Inc. (NYSE:PEN) by 49.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 183,828 shares of the company’s stock after selling 177,600 shares during the quarter. Penumbra comprises 1.3% of Braidwell LP’s investment portfolio, making the stock its 29th biggest holding. Braidwell LP owned about 0.48% of Penumbra worth $43,655,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also added to or reduced their stakes in PEN. UMB Bank n.a. lifted its position in shares of Penumbra by 57.4% during 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 last quarter. Hurley Capital LLC bought a new position in Penumbra during the fourth quarter worth about $56,000. Huntington National Bank increased its stake in shares of 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. raised its position in shares of Penumbra by 208.0% in the fourth quarter. Mather Group LLC. now owns 308 shares of the company’s stock valued at $73,000 after purchasing an additional 208 shares during the period. Finally, Jones Financial Companies Lllp lifted its stake in shares of Penumbra by 25.0% during the 4th quarter. Jones Financial Companies Lllp now owns 375 shares of the company’s stock valued at $89,000 after buying an additional 75 shares in the last quarter. Institutional investors own 88.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PEN. Bank of America started coverage on shares of Penumbra in a report on Friday, March 14th. They set a “buy” rating and a $320.00 target price on the stock. Morgan Stanley increased their price objective on Penumbra from $240.00 to $260.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 19th. Canaccord Genuity Group upped their target price on Penumbra from $323.00 to $340.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. JPMorgan Chase & Co. raised their price target on Penumbra from $230.00 to $285.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Finally, BTIG Research restated a “buy” rating on shares of Penumbra in a research report on Thursday, April 24th. Three research 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. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $302.40.

Penumbra Stock Down 1.0 %

Penumbra stock opened at $293.09 on Tuesday. Penumbra, Inc. has a fifty-two week low of $148.00 and a fifty-two week high of $310.00. The company has a market cap of $11.35 billion, a PE ratio of 862.03, a PEG ratio of 2.83 and a beta of 0.56. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.25 and a current ratio of 6.01. The business’s 50-day simple moving average is $277.14 and its two-hundred day simple moving average is $258.92.

Penumbra (NYSE:PEN) last released its quarterly earnings data on Wednesday, April 23rd. The company reported $0.83 earnings per share for the quarter, beating 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 business had revenue of $324.14 million during the quarter, compared to analyst estimates of $315.72 million. During the same quarter last year, the business posted $0.41 EPS. The company’s revenue was up 16.3% on a year-over-year basis. Equities analysts anticipate that Penumbra, Inc. will post 3.67 EPS for the current year.

Insider Buying and Selling

In other news, CEO Adam Elsesser sold 61,600 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $283.59, for a total value of $17,469,144.00. Following the transaction, the chief executive officer now directly owns 16,376 shares of the company’s stock, valued at approximately $4,644,069.84. This trade represents a 79.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Maggie Yuen sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $286.00, for a total value of $572,000.00. Following the completion of the sale, the chief financial officer now owns 15,243 shares of the company’s stock, valued at $4,359,498. This trade represents a 11.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 140,446 shares of company stock worth $39,543,953. Insiders own 5.00% of the company’s stock.

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.