Redmile Group LLC Sells 50,629 Shares of Penumbra, Inc. (NYSE:PEN)

Redmile Group LLC reduced its stake in shares of Penumbra, Inc. (NYSE:PEN) by 53.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 44,613 shares of the company’s stock after selling 50,629 shares during the quarter. Redmile Group LLC owned about 0.12% of Penumbra worth $9,957,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. increased its position in shares of Penumbra by 171.8% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 106 shares of the company’s stock worth $27,000 after acquiring an additional 67 shares in the last quarter. Mather Group LLC. bought a new position in Penumbra during the first quarter worth about $29,000. Signaturefd LLC raised its holdings in Penumbra by 27.2% in the 4th quarter. Signaturefd LLC now owns 215 shares of the company’s stock valued at $54,000 after acquiring an additional 46 shares in the last quarter. Quest Partners LLC bought a new stake in shares of Penumbra during the 4th quarter worth approximately $71,000. Finally, Picton Mahoney Asset Management acquired a new stake in Penumbra in the fourth quarter valued at about $88,000. Institutional investors own 88.88% of the company’s stock.

Insider Activity at Penumbra

In other Penumbra news, CEO Adam Elsesser sold 15,000 shares of the stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $200.98, for a total value of $3,014,700.00. Following the transaction, the chief executive officer now owns 942,582 shares of the company’s stock, valued at $189,440,130.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Penumbra news, EVP Johanna Roberts sold 600 shares of the stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $207.41, for a total transaction of $124,446.00. Following the completion of the sale, the executive vice president now directly owns 63,488 shares of the company’s stock, valued at approximately $13,168,046.08. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Adam Elsesser sold 15,000 shares of the business’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $200.98, for a total value of $3,014,700.00. Following the completion of the sale, the chief executive officer now owns 942,582 shares in the company, valued at $189,440,130.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 31,970 shares of company stock worth $6,428,404. 5.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PEN. Canaccord Genuity Group cut their price target on shares of Penumbra from $284.00 to $272.00 and set a “buy” rating on the stock in a report on Wednesday, May 8th. Truist Financial decreased their price target on Penumbra from $280.00 to $230.00 and set a “buy” rating for the company in a report on Tuesday, July 16th. BTIG Research lowered their target price on Penumbra from $265.00 to $232.00 and set a “buy” rating on the stock in a research note on Monday, July 15th. Needham & Company LLC reissued a “hold” rating on shares of Penumbra in a report on Wednesday, May 8th. Finally, Citigroup reduced their target price on shares of Penumbra from $300.00 to $265.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $260.56.

Penumbra Stock Down 0.1 %

Shares of NYSE PEN traded down $0.17 on Monday, reaching $178.26. 673,319 shares of the company’s stock traded hands, compared to its average volume of 349,350. The company has a quick ratio of 3.51, a current ratio of 6.12 and a debt-to-equity ratio of 0.02. The business’s 50 day simple moving average is $186.15 and its two-hundred day simple moving average is $216.44. Penumbra, Inc. has a 12 month low of $170.59 and a 12 month high of $310.51. The company has a market cap of $6.91 billion, a price-to-earnings ratio of 75.22, a price-to-earnings-growth ratio of 1.80 and a beta of 0.55.

Penumbra (NYSE:PEN) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.01). Penumbra had a net margin of 8.52% and a return on equity of 7.83%. The business had revenue of $278.70 million for the quarter, compared to analysts’ expectations of $274.94 million. During the same period last year, the business earned $0.23 earnings per share. The company’s quarterly revenue was up 15.5% on a year-over-year basis. As a group, equities research analysts forecast that Penumbra, Inc. will post 2.88 EPS for the current fiscal year.

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.