RWA Wealth Partners LLC Purchases New Stake in Penumbra, Inc. (NYSE:PEN)

RWA Wealth Partners LLC purchased a new stake in shares of Penumbra, Inc. (NYSE:PEN) in the fourth quarter, Holdings Channel reports. The firm purchased 3,825 shares of the company’s stock, valued at approximately $962,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Invesco Ltd. raised its holdings in Penumbra by 6.4% during the 3rd quarter. Invesco Ltd. now owns 551,923 shares of the company’s stock valued at $133,516,000 after buying an additional 33,107 shares during the last quarter. Rock Springs Capital Management LP raised its holdings in Penumbra by 37.6% in the 3rd quarter. Rock Springs Capital Management LP now owns 503,750 shares of the company’s stock worth $121,862,000 after purchasing an additional 137,750 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Penumbra by 19.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 265,155 shares of the company’s stock worth $66,697,000 after purchasing an additional 42,876 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Penumbra by 2.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 239,103 shares of the company’s stock worth $57,841,000 after purchasing an additional 6,436 shares in the last quarter. Finally, Redmile Group LLC raised its holdings in Penumbra by 11.6% in the 3rd quarter. Redmile Group LLC now owns 155,076 shares of the company’s stock worth $37,514,000 after purchasing an additional 16,106 shares in the last quarter. 88.88% of the stock is currently owned by institutional investors.

Penumbra Stock Up 0.2 %

Shares of Penumbra stock opened at $206.15 on Thursday. Penumbra, Inc. has a 1 year low of $180.93 and a 1 year high of $348.67. The company has a 50-day moving average of $230.76 and a 200 day moving average of $232.07. The firm has a market cap of $7.98 billion, a price-to-earnings ratio of 89.24, a PEG ratio of 2.03 and a beta of 0.51. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.06 and a quick ratio of 3.49.

Penumbra (NYSE:PEN) last announced its quarterly earnings data on Thursday, February 22nd. The company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.71 by $0.05. Penumbra had a net margin of 8.59% and a return on equity of 7.49%. The company had revenue of $284.68 million for the quarter, compared to the consensus estimate of $286.62 million. During the same period in the prior year, the firm posted $0.16 EPS. Penumbra’s revenue for the quarter was up 28.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Penumbra, Inc. will post 2.85 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $289.00 price objective on shares of Penumbra in a report on Friday, February 23rd. JPMorgan Chase & Co. lowered shares of Penumbra from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $284.00 to $250.00 in a report on Friday, February 23rd. Piper Sandler restated an “overweight” rating and issued a $290.00 price objective on shares of Penumbra in a report on Wednesday, April 3rd. Truist Financial decreased their price target on shares of Penumbra from $290.00 to $280.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $284.00 price target on shares of Penumbra in a research note on Friday, February 23rd. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $304.45.

Insider Activity at Penumbra

In related news, Director Don W. Kassing sold 170 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $223.18, for a total transaction of $37,940.60. Following the sale, the director now directly owns 1,175 shares of the company’s stock, valued at approximately $262,236.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Don W. Kassing sold 170 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $223.18, for a total transaction of $37,940.60. Following the sale, the director now owns 1,175 shares of the company’s stock, valued at approximately $262,236.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Johanna Roberts sold 600 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $217.07, for a total transaction of $130,242.00. Following the sale, the executive vice president now directly owns 64,281 shares in the company, valued at approximately $13,953,476.67. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,648 shares of company stock valued at $2,369,903. 5.30% of the stock is owned by insiders.

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.