Braidwell LP Grows Holdings in Penumbra, Inc. $PEN

Braidwell LP raised its position in Penumbra, Inc. (NYSE:PEN) by 9.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 141,528 shares of the company’s stock after buying an additional 11,900 shares during the period. Penumbra accounts for 1.1% of Braidwell LP’s investment portfolio, making the stock its 28th biggest holding. Braidwell LP’s holdings in Penumbra were worth $35,852,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of PEN. Vanguard Group Inc. boosted its stake in shares of Penumbra by 5.0% in the 2nd quarter. Vanguard Group Inc. now owns 3,860,655 shares of the company’s stock worth $990,760,000 after buying an additional 185,306 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Penumbra by 2.6% during the second quarter. Geode Capital Management LLC now owns 706,404 shares of the company’s stock valued at $181,314,000 after acquiring an additional 17,772 shares during the last quarter. Invesco Ltd. increased its position in shares of Penumbra by 1,139.3% during the second quarter. Invesco Ltd. now owns 633,485 shares of the company’s stock valued at $162,571,000 after acquiring an additional 582,369 shares during the last quarter. Norges Bank bought a new stake in Penumbra during the second quarter worth $114,014,000. Finally, Thrivent Financial for Lutherans lifted its holdings in Penumbra by 13.7% during the third quarter. Thrivent Financial for Lutherans now owns 367,062 shares of the company’s stock worth $92,984,000 after acquiring an additional 44,185 shares during the period. Institutional investors own 88.88% of the company’s stock.

Penumbra Stock Performance

Shares of PEN opened at $336.05 on Friday. Penumbra, Inc. has a 1 year low of $221.26 and a 1 year high of $362.41. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.64 and a quick ratio of 4.29. The stock’s fifty day moving average price is $340.38 and its two-hundred day moving average price is $297.79. The firm has a market cap of $13.19 billion, a PE ratio of 74.35, a PEG ratio of 2.06 and a beta of 0.81.

Penumbra (NYSE:PEN) last posted its quarterly earnings results on Wednesday, February 25th. The company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of $1.12 by ($1.49). Penumbra had a return on equity of 11.41% and a net margin of 12.66%.The firm had revenue of $385.39 million for the quarter, compared to the consensus estimate of $367.18 million. During the same quarter in the previous year, the company posted $0.97 EPS. The firm’s revenue was up 22.2% compared to the same quarter last year. On average, equities research analysts forecast that Penumbra, Inc. will post 3.67 EPS for the current year.

Insiders Place Their Bets

In other Penumbra news, Director Harpreet Grewal sold 186 shares of the stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $312.64, for a total transaction of $58,151.04. Following the completion of the transaction, the director owned 8,230 shares in the company, valued at $2,573,027.20. This trade represents a 2.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Maggie Yuen sold 2,432 shares of Penumbra stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $342.30, for a total transaction of $832,473.60. Following the completion of the transaction, the chief financial officer owned 18,353 shares of the company’s stock, valued at $6,282,231.90. The trade was a 11.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 2,804 shares of company stock worth $948,419 over the last quarter. 4.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on PEN shares. Needham & Company LLC downgraded Penumbra from a “buy” rating to a “hold” rating in a research note on Friday, January 16th. Weiss Ratings reissued a “hold (c)” rating on shares of Penumbra in a report on Monday, December 29th. Wells Fargo & Company restated an “equal weight” rating and set a $374.00 price target on shares of Penumbra in a research report on Thursday, January 15th. William Blair downgraded shares of Penumbra from an “outperform” rating to a “market perform” rating in a report on Thursday, January 15th. Finally, Piper Sandler lowered shares of Penumbra from an “overweight” rating to a “hold” rating and set a $374.00 price objective on the stock. in a research report on Thursday, January 15th. Four equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, Penumbra has a consensus rating of “Hold” and an average price target of $361.69.

About Penumbra

Penumbra, Inc is a global healthcare company specializing in the development and manufacture of innovative medical devices that address neurovascular and peripheral vascular conditions. The company focuses on products designed to improve patient outcomes in acute ischemic stroke, aneurysm treatment and peripheral thrombectomy. Penumbra’s technologies are used by interventional neuroradiologists, neurosurgeons and interventional cardiologists in hospitals and clinics around the world.

At the core of Penumbra’s portfolio is its mechanical thrombectomy platform, which includes aspiration catheters and accessory devices engineered to remove blood clots in acute stroke cases.