Adage Capital Partners GP L.L.C. Takes Position in Penumbra, Inc. (NYSE:PEN)

Adage Capital Partners GP L.L.C. acquired a new stake in shares of Penumbra, Inc. (NYSE:PEN - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 100,495 shares of the company's stock, valued at approximately $23,866,000. Adage Capital Partners GP L.L.C. owned about 0.26% of Penumbra as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Barclays PLC raised its holdings in shares of Penumbra by 16.5% during the third quarter. Barclays PLC now owns 18,025 shares of the company's stock valued at $3,502,000 after purchasing an additional 2,559 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in Penumbra in the 3rd quarter worth approximately $367,000. Wilmington Savings Fund Society FSB purchased a new stake in Penumbra during the 3rd quarter valued at $6,995,000. Tidal Investments LLC lifted its holdings in shares of Penumbra by 2.7% during the 3rd quarter. Tidal Investments LLC now owns 5,008 shares of the company's stock valued at $973,000 after buying an additional 130 shares during the period. Finally, Franklin Resources Inc. boosted its stake in shares of Penumbra by 8.2% in the 3rd quarter. Franklin Resources Inc. now owns 319,232 shares of the company's stock worth $67,473,000 after buying an additional 24,091 shares during the last quarter. 88.88% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on PEN shares. Truist Financial increased their target price on Penumbra from $315.00 to $330.00 and gave the company a "buy" rating in a report on Thursday, April 24th. Canaccord Genuity Group raised their price objective on shares of Penumbra from $323.00 to $340.00 and gave the stock a "buy" rating in a report on Wednesday, February 19th. Stifel Nicolaus set a $318.00 target price on shares of Penumbra and gave the company a "buy" rating in a report on Thursday, April 24th. Robert W. Baird lifted their price target on shares of Penumbra from $316.00 to $325.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Finally, Needham & Company LLC restated a "hold" rating on shares of Penumbra in a research note on Wednesday, February 19th. Three research 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.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $302.40.

Penumbra Stock Down 0.2 %

NYSE:PEN traded down $0.73 during mid-day trading on Tuesday, reaching $296.59. The company's stock had a trading volume of 572,394 shares, compared to its average volume of 425,442. The company has a quick ratio of 3.25, a current ratio of 6.01 and a debt-to-equity ratio of 0.02. Penumbra, Inc. has a 1 year low of $148.00 and a 1 year high of $310.00. The stock has a fifty day moving average of $276.87 and a 200-day moving average of $255.88. The firm has a market capitalization of $11.49 billion, a PE ratio of 872.32, a price-to-earnings-growth ratio of 2.83 and a beta of 0.56.

Penumbra (NYSE:PEN - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.17. The business had revenue of $324.14 million for the quarter, compared to analysts' expectations of $315.72 million. Penumbra had a return on equity of 9.74% and a net margin of 1.17%. The business's revenue for the quarter was up 16.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.41 EPS. Equities research analysts forecast that Penumbra, Inc. will post 3.67 earnings per share for the current year.

Insider Activity

In related news, Director Thomas Wilder sold 360 shares of the stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $264.58, for a total value of $95,248.80. Following the completion of the transaction, the director now directly owns 4,533 shares of the company's stock, valued at $1,199,341.14. This trade represents a 7.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $287.43, for a total transaction of $172,458.00. Following the sale, the executive vice president now owns 66,539 shares of the company's stock, valued at $19,125,304.77. The trade was a 0.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 128,446 shares of company stock worth $35,959,193. Insiders own 5.00% of the company's stock.

About Penumbra

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.