Olympiad Research LP Takes $253,000 Position in Penumbra, Inc. (NYSE:PEN)

Olympiad Research LP purchased a new position in Penumbra, Inc. (NYSE:PEN) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 1,066 shares of the company’s stock, valued at approximately $253,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. FMR LLC increased its holdings in Penumbra by 2.1% in the 3rd quarter. FMR LLC now owns 5,896,396 shares of the company’s stock worth $1,145,729,000 after buying an additional 121,465 shares during the period. Champlain Investment Partners LLC boosted its position in 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 purchasing an additional 264,122 shares in the last quarter. State Street Corp boosted its position in Penumbra by 0.3% in the 3rd quarter. State Street Corp now owns 1,236,671 shares of the company’s stock worth $240,298,000 after purchasing an additional 3,863 shares in the last quarter. RTW Investments LP boosted its position in Penumbra by 7.2% in the 3rd quarter. RTW Investments LP now owns 795,750 shares of the company’s stock worth $154,622,000 after purchasing an additional 53,645 shares in the last quarter. Finally, Baillie Gifford & Co. boosted its position in Penumbra by 23.4% in the 4th quarter. Baillie Gifford & Co. now owns 730,233 shares of the company’s stock worth $173,416,000 after purchasing an additional 138,387 shares in the last quarter. Institutional investors and hedge funds own 88.88% of the company’s stock.

Penumbra Stock Down 3.5 %

Shares of NYSE PEN opened at $292.52 on Monday. 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 52 week low of $148.00 and a 52 week high of $310.00. The firm has a 50-day moving average price of $259.09 and a 200 day moving average price of $228.69. The stock has a market capitalization of $11.27 billion, a price-to-earnings ratio of 860.35, a price-to-earnings-growth ratio of 2.83 and a beta of 0.53.

Penumbra (NYSE:PEN) last announced its earnings results on Tuesday, February 18th. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.09. The company had revenue of $315.52 million during the quarter, compared to analysts’ expectations of $311.63 million. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. Equities research analysts anticipate that Penumbra, Inc. will post 3.67 EPS for the current fiscal year.

Insider Transactions at Penumbra

In other news, CEO Adam Elsesser sold 15,000 shares of Penumbra stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $242.96, for a total transaction of $3,644,400.00. Following the completion of the sale, the chief executive officer now directly owns 837,582 shares in the company, valued at $203,498,922.72. The trade was a 1.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Harpreet Grewal sold 167 shares of Penumbra stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $241.28, for a total transaction of $40,293.76. Following the sale, the director now owns 8,530 shares of the company’s stock, valued at approximately $2,058,118.40. This trade represents a 1.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,219 shares of company stock worth $4,426,439 over the last ninety days. 5.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Robert W. Baird upped their price objective on Penumbra from $305.00 to $328.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Piper Sandler reiterated an “overweight” rating and set a $330.00 target price (up previously from $250.00) on shares of Penumbra in a research report on Wednesday, February 19th. Royal Bank of Canada increased their target price on Penumbra from $285.00 to $313.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Truist Financial increased their target price on Penumbra from $285.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Finally, BTIG Research increased 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. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Penumbra presently has a consensus rating of “Moderate Buy” and a consensus price target of $292.64.

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.