RTW Investments LP Has $204.82 Million Position in Penumbra, Inc. (NYSE:PEN)

RTW Investments LP boosted its holdings in Penumbra, Inc. (NYSE:PEN) by 8.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 862,450 shares of the company’s stock after buying an additional 66,700 shares during the quarter. Penumbra makes up approximately 3.1% of RTW Investments LP’s investment portfolio, making the stock its 12th largest position. RTW Investments LP owned 2.25% of Penumbra worth $204,815,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. UMB Bank n.a. lifted its position in shares of Penumbra by 57.4% in the 4th quarter. UMB Bank n.a. now owns 192 shares of the company’s stock worth $46,000 after purchasing an additional 70 shares during the period. Hurley Capital LLC acquired a new position in shares of Penumbra in the 4th quarter worth approximately $56,000. Huntington National Bank lifted its position in shares of Penumbra by 138.7% in the 4th quarter. Huntington National Bank now owns 265 shares of the company’s stock worth $63,000 after purchasing an additional 154 shares during the period. Mather Group LLC. lifted its position in shares of Penumbra by 208.0% in the 4th quarter. Mather Group LLC. now owns 308 shares of the company’s stock worth $73,000 after purchasing an additional 208 shares during the period. Finally, Jones Financial Companies Lllp lifted its position in shares of Penumbra by 25.0% in 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. Institutional investors own 88.88% of the company’s stock.

Penumbra Stock Performance

Shares of PEN stock opened at $275.95 on Friday. The firm has a market capitalization of $10.69 billion, a PE ratio of 811.62, a price-to-earnings-growth ratio of 2.83 and a beta of 0.53. The firm has a fifty day simple moving average of $279.00 and a two-hundred day simple moving average of $262.86. The company has a current ratio of 6.01, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02. Penumbra, Inc. has a 12 month low of $148.00 and a 12 month high of $310.00.

Penumbra (NYSE:PEN) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.17. The business had revenue of $324.14 million during the quarter, compared to analyst estimates of $315.72 million. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. Penumbra’s quarterly revenue was up 16.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.41 EPS. Analysts forecast that Penumbra, Inc. will post 3.67 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on PEN shares. Bank of America started coverage on shares of Penumbra in a research report on Friday, March 14th. They issued a “buy” rating and a $320.00 price target on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Penumbra from $230.00 to $285.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Truist Financial lifted their price objective on shares of Penumbra from $315.00 to $330.00 and gave the company a “buy” rating in a research note on Thursday, April 24th. Canaccord Genuity Group lifted their price objective on shares of Penumbra from $323.00 to $340.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Finally, Morgan Stanley lifted their price objective on shares of Penumbra from $240.00 to $260.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 19th. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Penumbra currently has a consensus rating of “Moderate Buy” and a consensus target price of $302.40.

Insiders Place Their Bets

In other Penumbra news, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $287.43, for a total transaction of $172,458.00. Following the transaction, the executive vice president now directly owns 66,539 shares of the company’s stock, valued at $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 available through the SEC website. Also, CEO Adam Elsesser sold 16,650 shares of Penumbra stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $289.37, for a total transaction of $4,818,010.50. Following the transaction, the chief executive officer now directly owns 75,237 shares in the company, valued at $21,771,330.69. This represents a 18.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 159,996 shares of company stock valued at $45,228,678 in the last three months. 4.20% of the stock is currently owned by insiders.

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.