Redmile Group LLC Purchases Shares of 13,847 Penumbra, Inc. (NYSE:PEN)

Redmile Group LLC acquired a new stake in shares of Penumbra, Inc. (NYSE:PEN - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 13,847 shares of the company's stock, valued at approximately $2,691,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Janus Henderson Group PLC grew its holdings in shares of Penumbra by 128.1% in the third quarter. Janus Henderson Group PLC now owns 668,873 shares of the company's stock valued at $129,967,000 after purchasing an additional 375,684 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in shares of Penumbra by 3,832.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 368,298 shares of the company's stock worth $71,564,000 after buying an additional 358,932 shares in the last quarter. Champlain Investment Partners LLC grew its stake in shares of Penumbra by 20.6% in the 3rd quarter. Champlain Investment Partners LLC now owns 1,547,972 shares of the company's stock worth $300,786,000 after buying an additional 264,122 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new stake in shares of Penumbra in the 3rd quarter worth about $31,965,000. Finally, Braidwell LP raised its position in shares of Penumbra by 70.0% during the 3rd quarter. Braidwell LP now owns 361,428 shares of the company's stock valued at $70,229,000 after buying an additional 148,834 shares in the last quarter. Institutional investors own 88.88% of the company's stock.

Insider Transactions at Penumbra

In related news, EVP Johanna Roberts sold 600 shares of the business's stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $244.49, for a total value of $146,694.00. Following the completion of the transaction, the executive vice president now owns 63,444 shares of the company's stock, valued at $15,511,423.56. The trade was a 0.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Lambert Shiu sold 1,798 shares of the stock in a transaction on Friday, November 29th. The shares were sold at an average price of $242.56, for a total value of $436,122.88. Following the sale, the chief accounting officer now directly owns 20,682 shares in the company, valued at $5,016,625.92. This trade represents a 8.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 49,418 shares of company stock valued at $10,624,973. 5.00% of the stock is currently owned by corporate insiders.

Penumbra Trading Down 2.6 %

PEN stock traded down $6.38 during mid-day trading on Thursday, reaching $242.70. The company had a trading volume of 194,610 shares, compared to its average volume of 376,975. The company has a market capitalization of $9.31 billion, a PE ratio of 282.21, a price-to-earnings-growth ratio of 2.47 and a beta of 0.51. The firm has a 50 day moving average of $221.10 and a 200 day moving average of $199.69. Penumbra, Inc. has a 12 month low of $148.00 and a 12 month high of $277.34. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.82 and a quick ratio of 3.25.

Penumbra (NYSE:PEN - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.69 by $0.16. The firm had revenue of $301.04 million during the quarter, compared to analyst estimates of $297.36 million. Penumbra had a return on equity of 8.99% and a net margin of 2.97%. Penumbra's quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.67 earnings per share. On average, equities analysts predict that Penumbra, Inc. will post 2.81 earnings per share for the current fiscal year.

Penumbra declared that its Board of Directors has initiated a share repurchase program on Tuesday, August 13th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 2.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Leerink Partnrs upgraded Penumbra to a "strong-buy" rating in a research report on Tuesday, September 3rd. BTIG Research boosted their target price on Penumbra from $232.00 to $270.00 and gave the company a "buy" rating in a research report on Tuesday, November 26th. Needham & Company LLC restated a "hold" rating on shares of Penumbra in a report on Thursday, October 31st. Canaccord Genuity Group lifted their price objective on shares of Penumbra from $176.00 to $235.00 and gave the stock a "buy" rating in a research note on Wednesday, October 16th. Finally, Truist Financial increased their target price on shares of Penumbra from $200.00 to $235.00 and gave the company a "buy" rating in a research note on Monday, October 14th. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $230.92.

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.