RTW Investments LP Has $154.62 Million Stock Holdings in Penumbra, Inc. (NYSE:PEN)

RTW Investments LP lifted its position in shares of Penumbra, Inc. (NYSE:PEN) by 7.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 795,750 shares of the company’s stock after acquiring an additional 53,645 shares during the quarter. Penumbra makes up approximately 2.2% of RTW Investments LP’s portfolio, making the stock its 19th biggest position. RTW Investments LP owned 2.07% of Penumbra worth $154,622,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of PEN. True Wealth Design LLC acquired a new stake in shares of Penumbra during the 3rd quarter valued at $26,000. GAMMA Investing LLC raised its position in Penumbra by 111.1% during the 3rd quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock worth $33,000 after purchasing an additional 90 shares during the last quarter. WASHINGTON TRUST Co bought a new position in Penumbra during the 2nd quarter worth $54,000. Park Place Capital Corp raised its position in Penumbra by 1,473.9% during the 3rd quarter. Park Place Capital Corp now owns 362 shares of the company’s stock worth $70,000 after purchasing an additional 339 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its position in Penumbra by 1,845.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 389 shares of the company’s stock worth $70,000 after purchasing an additional 369 shares during the last quarter. Institutional investors and hedge funds own 88.88% of the company’s stock.

Insider Buying and Selling at Penumbra

In other Penumbra news, CAO Lambert Shiu sold 654 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $243.01, for a total transaction of $158,928.54. Following the sale, the chief accounting officer now owns 20,028 shares of the company’s stock, valued at $4,867,004.28. The trade was a 3.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Johanna Roberts sold 600 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $244.49, for a total transaction of $146,694.00. Following the completion of the transaction, the executive vice president now directly owns 63,444 shares in the company, valued at approximately $15,511,423.56. The trade was a 0.94 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 49,418 shares of company stock worth $10,624,973. Insiders own 5.00% of the company’s stock.

Wall Street Analysts Forecast Growth

PEN has been the subject of several research analyst reports. Royal Bank of Canada lifted their price objective on Penumbra from $205.00 to $222.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Truist Financial lifted their price objective on Penumbra from $200.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Leerink Partners initiated coverage on Penumbra in a research report on Tuesday, September 3rd. They issued an “outperform” rating and a $263.00 price objective for the company. Citigroup lifted their price objective on Penumbra from $178.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, August 22nd. Finally, BTIG Research lifted their price objective on Penumbra from $232.00 to $270.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $230.92.

Penumbra Price Performance

PEN stock opened at $249.12 on Thursday. The company has a market capitalization of $9.56 billion, a P/E ratio of 289.67, a price-to-earnings-growth ratio of 2.47 and a beta of 0.51. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.25 and a current ratio of 5.82. Penumbra, Inc. has a 52-week low of $148.00 and a 52-week high of $277.34. The business has a 50-day simple moving average of $220.08 and a two-hundred day simple moving average of $199.38.

Penumbra (NYSE:PEN) last released 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 business had revenue of $301.04 million during the quarter, compared to the consensus estimate of $297.36 million. Penumbra had a return on equity of 8.99% and a net margin of 2.97%. The company’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 EPS. Research analysts expect that Penumbra, Inc. will post 2.81 EPS for the current fiscal year.

Penumbra declared that its Board of Directors has initiated a stock repurchase program on Tuesday, August 13th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the company to purchase up to 2.6% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

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.