Braidwell LP Has $35.85 Million Stock Position in Penumbra, Inc. $PEN

Braidwell LP boosted its holdings in Penumbra, Inc. (NYSE:PEN) by 9.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 141,528 shares of the company’s stock after purchasing an additional 11,900 shares during the quarter. Penumbra comprises 1.1% of Braidwell LP’s holdings, making the stock its 28th largest holding. Braidwell LP owned 0.36% of Penumbra worth $35,852,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans increased its stake in shares of Penumbra by 13.7% in the 3rd quarter. Thrivent Financial for Lutherans now owns 367,062 shares of the company’s stock valued at $92,984,000 after acquiring an additional 44,185 shares in the last quarter. New York State Common Retirement Fund boosted its stake in Penumbra by 8.7% during the third quarter. New York State Common Retirement Fund now owns 82,849 shares of the company’s stock worth $20,987,000 after acquiring an additional 6,642 shares in the last quarter. First Trust Advisors LP boosted its stake in Penumbra by 4.0% during the second quarter. First Trust Advisors LP now owns 100,723 shares of the company’s stock worth $25,849,000 after acquiring an additional 3,906 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in Penumbra by 22.9% in the second quarter. Russell Investments Group Ltd. now owns 26,604 shares of the company’s stock worth $6,827,000 after purchasing an additional 4,960 shares during the period. Finally, Wesbanco Bank Inc. acquired a new stake in Penumbra in the third quarter worth $1,900,000. 88.88% of the stock is owned by institutional investors and hedge funds.

Penumbra Trading Up 0.3%

PEN opened at $336.05 on Friday. Penumbra, Inc. has a fifty-two week low of $221.26 and a fifty-two week high of $362.41. The firm has a market capitalization of $13.19 billion, a PE ratio of 74.35, a P/E/G ratio of 2.06 and a beta of 0.81. 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 company’s 50-day moving average is $340.38 and its 200 day moving average is $297.79.

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

Insider Activity at Penumbra

In related news, Director Harpreet Grewal sold 186 shares of Penumbra stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $312.64, for a total transaction of $58,151.04. Following the transaction, the director owned 8,230 shares of the company’s stock, valued at $2,573,027.20. The trade was a 2.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Maggie Yuen sold 2,432 shares of the company’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $342.30, for a total value of $832,473.60. Following the sale, the chief financial officer owned 18,353 shares of the company’s stock, valued at $6,282,231.90. This trade represents a 11.70% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 2,804 shares of company stock valued at $948,419 over the last 90 days. Insiders own 4.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PEN shares. Canaccord Genuity Group lowered shares of Penumbra from a “buy” rating to a “hold” rating and upped their price objective for the company from $359.00 to $374.00 in a report on Tuesday, January 20th. Leerink Partners downgraded Penumbra from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 16th. JPMorgan Chase & Co. raised Penumbra from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $275.00 to $370.00 in a research report on Thursday, December 18th. UBS Group reaffirmed a “neutral” rating and set a $374.00 price target on shares of Penumbra in a research note on Thursday, February 26th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Penumbra in a report on Monday, December 29th. Four research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $361.69.

Penumbra Company Profile

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.