RiverPark Advisors LLC Raises Stock Holdings in Penumbra, Inc. (NYSE:PEN)

RiverPark Advisors LLC raised its position in shares of Penumbra, Inc. (NYSE:PEN) by 360.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 507 shares of the company’s stock after acquiring an additional 397 shares during the period. RiverPark Advisors LLC’s holdings in Penumbra were worth $113,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of PEN. Norges Bank purchased a new stake in Penumbra during the 4th quarter valued at $85,222,000. Braidwell LP lifted its position in Penumbra by 133.7% in the fourth quarter. Braidwell LP now owns 222,792 shares of the company’s stock worth $56,041,000 after buying an additional 127,477 shares during the last quarter. Vanguard Group Inc. lifted its position in Penumbra by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 3,658,103 shares of the company’s stock worth $920,159,000 after buying an additional 58,184 shares during the last quarter. Jennison Associates LLC lifted its position in Penumbra by 192.1% in the first quarter. Jennison Associates LLC now owns 87,139 shares of the company’s stock worth $19,448,000 after buying an additional 57,310 shares during the last quarter. Finally, Artisan Partners Limited Partnership lifted its position in Penumbra by 45.9% in the fourth quarter. Artisan Partners Limited Partnership now owns 146,218 shares of the company’s stock worth $36,780,000 after buying an additional 45,983 shares during the last quarter. 88.88% of the stock is owned by hedge funds and other institutional investors.

Penumbra Stock Down 0.7 %

Shares of Penumbra stock traded down $1.28 during trading on Tuesday, hitting $177.99. 276,994 shares of the stock traded hands, compared to its average volume of 342,670. The firm has a market cap of $6.90 billion, a P/E ratio of 75.10, a price-to-earnings-growth ratio of 1.83 and a beta of 0.55. The company has a current ratio of 6.12, a quick ratio of 3.51 and a debt-to-equity ratio of 0.02. Penumbra, Inc. has a 52-week low of $170.59 and a 52-week high of $332.52. The stock’s fifty day simple moving average is $190.97 and its 200 day simple moving average is $222.27.

Penumbra (NYSE:PEN) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.01). The firm had revenue of $278.70 million for the quarter, compared to analysts’ expectations of $274.94 million. Penumbra had a net margin of 8.52% and a return on equity of 7.83%. The business’s quarterly revenue was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.23 EPS. On average, equities analysts predict that Penumbra, Inc. will post 2.87 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PEN. Truist Financial lowered their price target on Penumbra from $290.00 to $280.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. Canaccord Genuity Group lowered their price target on Penumbra from $284.00 to $272.00 and set a “buy” rating for the company in a research report on Wednesday, May 8th. Needham & Company LLC restated a “hold” rating on shares of Penumbra in a research report on Wednesday, May 8th. Finally, Piper Sandler decreased their target price on Penumbra from $290.00 to $260.00 and set an “overweight” rating for the company in a research report on Wednesday, May 8th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Penumbra presently has an average rating of “Moderate Buy” and a consensus price target of $293.10.

Insider Activity

In other Penumbra news, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $207.41, for a total value of $124,446.00. Following the transaction, the executive vice president now owns 63,488 shares in the company, valued at $13,168,046.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Penumbra news, CEO Adam Elsesser sold 15,000 shares of the firm’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $200.98, for a total value of $3,014,700.00. Following the completion of the sale, the chief executive officer now owns 942,582 shares of the company’s stock, valued at $189,440,130.36. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Johanna Roberts sold 600 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $207.41, for a total value of $124,446.00. Following the completion of the sale, the executive vice president now directly owns 63,488 shares of the company’s stock, valued at approximately $13,168,046.08. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,970 shares of company stock worth $3,390,604. Company 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.