Penumbra, Inc. $PEN Shares Acquired by Braidwell LP

Braidwell LP increased its position in Penumbra, Inc. (NYSE:PEN) by 17.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 129,628 shares of the company’s stock after buying an additional 19,500 shares during the quarter. Penumbra comprises about 1.1% of Braidwell LP’s investment portfolio, making the stock its 29th biggest position. Braidwell LP’s holdings in Penumbra were worth $33,266,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Bamco Inc. NY increased its position in Penumbra by 75.0% during the 2nd quarter. Bamco Inc. NY now owns 17,500 shares of the company’s stock worth $4,491,000 after purchasing an additional 7,500 shares in the last quarter. Bank of America Corp DE boosted its position in Penumbra by 26.7% during the 2nd quarter. Bank of America Corp DE now owns 263,627 shares of the company’s stock worth $67,655,000 after purchasing an additional 55,551 shares during the period. Adage Capital Partners GP L.L.C. increased its holdings in Penumbra by 9.5% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 109,497 shares of the company’s stock valued at $28,100,000 after purchasing an additional 9,497 shares in the last quarter. Ameriprise Financial Inc. raised its position in Penumbra by 55.3% in the second quarter. Ameriprise Financial Inc. now owns 157,492 shares of the company’s stock valued at $40,417,000 after purchasing an additional 56,076 shares during the period. Finally, AQR Capital Management LLC lifted its stake in shares of Penumbra by 139.4% during the second quarter. AQR Capital Management LLC now owns 330,990 shares of the company’s stock worth $84,939,000 after purchasing an additional 192,734 shares in the last quarter. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Insider Buying and Selling at Penumbra

In other Penumbra news, EVP Johanna Roberts sold 300 shares of the firm’s stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $300.13, for a total value of $90,039.00. Following the sale, the executive vice president owned 63,836 shares in the company, valued at approximately $19,159,098.68. This trade represents a 0.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Harpreet Grewal sold 100 shares of Penumbra stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $292.98, for a total value of $29,298.00. Following the sale, the director directly owned 8,416 shares in the company, valued at approximately $2,465,719.68. This trade represents a 1.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 19,744 shares of company stock worth $5,755,174. 4.20% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have issued reports on PEN shares. Wells Fargo & Company started coverage on shares of Penumbra in a research report on Tuesday, November 18th. They issued an “underweight” rating for the company. Canaccord Genuity Group raised their target price on Penumbra from $350.00 to $355.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. Wall Street Zen lowered Penumbra from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Weiss Ratings reissued a “hold (c)” rating on shares of Penumbra in a report on Monday. Finally, Needham & Company LLC restated a “buy” rating and set a $326.00 price objective on shares of Penumbra in a research note on Monday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $309.75.

Penumbra Stock Performance

Penumbra stock opened at $312.41 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.73 and a quick ratio of 4.18. Penumbra, Inc. has a 12 month low of $221.26 and a 12 month high of $315.01. The company has a fifty day moving average price of $269.05 and a two-hundred day moving average price of $259.24. The company has a market cap of $12.23 billion, a PE ratio of 74.74, a P/E/G ratio of 2.57 and a beta of 0.66.

Penumbra (NYSE:PEN) last issued its earnings results on Wednesday, November 5th. The company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.07. Penumbra had a net margin of 12.30% and a return on equity of 11.35%. The company had revenue of $354.69 million for the quarter, compared to analysts’ expectations of $340.77 million. During the same period in the prior year, the company earned $0.85 earnings per share. The firm’s revenue was up 17.8% compared to the same quarter last year. Research analysts expect 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.