Olympiad Research LP Acquires New Stake in Penumbra, Inc. (NYSE:PEN)

Olympiad Research LP acquired a new stake in Penumbra, Inc. (NYSE:PEN - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,066 shares of the company's stock, valued at approximately $253,000.

Several other hedge funds have also added to or reduced their stakes in PEN. Creative Planning raised its position in shares of Penumbra by 4.7% during the third quarter. Creative Planning now owns 1,574 shares of the company's stock worth $306,000 after acquiring an additional 71 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Penumbra by 808.9% in the 3rd quarter. Blue Trust Inc. now owns 509 shares of the company's stock worth $92,000 after acquiring an additional 453 shares during the last quarter. Legacy Wealth Asset Management LLC boosted its position in shares of Penumbra by 3.9% during the third quarter. Legacy Wealth Asset Management LLC now owns 1,731 shares of the company's stock valued at $336,000 after buying an additional 65 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Penumbra by 37.7% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 1,783 shares of the company's stock worth $346,000 after acquiring an additional 488 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its stake in Penumbra by 7.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 4,490 shares of the company's stock valued at $872,000 after buying an additional 305 shares during the last quarter. 88.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. BTIG Research lifted their price target on Penumbra from $232.00 to $270.00 and gave the stock a "buy" rating in a report on Tuesday, November 26th. StockNews.com upgraded Penumbra from a "hold" rating to a "buy" rating in a research note on Thursday, February 20th. Wells Fargo & Company raised their price objective on shares of Penumbra from $275.00 to $305.00 and gave the stock an "overweight" rating in a report on Wednesday, February 19th. Morgan Stanley boosted their target price on shares of Penumbra from $240.00 to $260.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 19th. Finally, Truist Financial raised their price target on shares of Penumbra from $285.00 to $325.00 and gave the stock a "buy" rating in a research note on Wednesday, February 19th. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $292.64.

Penumbra Price Performance

NYSE PEN traded down $10.39 during trading hours on Thursday, hitting $281.46. The company had a trading volume of 361,612 shares, compared to its average volume of 524,208. The firm has a 50 day simple moving average of $261.63 and a 200 day simple moving average of $230.73. Penumbra, Inc. has a 52 week low of $148.00 and a 52 week high of $310.00. The firm has a market capitalization of $10.84 billion, a price-to-earnings ratio of 827.81, a PEG ratio of 2.83 and a beta of 0.53. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.25 and a current ratio of 6.01.

Penumbra (NYSE:PEN - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.88 by $0.09. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. The company had revenue of $315.52 million during the quarter, compared to analysts' expectations of $311.63 million. Equities research analysts expect that Penumbra, Inc. will post 3.67 earnings per share for the current year.

Insider Activity at Penumbra

In related news, CAO Lambert Shiu sold 1,798 shares of the company's 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 completion of the transaction, the chief accounting officer now directly owns 20,682 shares in the company, valued at approximately $5,016,625.92. The trade was a 8.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Adam Elsesser sold 15,000 shares of the firm's stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $242.96, for a total value of $3,644,400.00. Following the sale, the chief executive officer now owns 837,582 shares in the company, valued at $203,498,922.72. The trade was a 1.76 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,219 shares of company stock valued at $4,426,439. Company insiders own 5.00% of the company's stock.

Penumbra Company 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.