Lecap Asset Management Ltd. Acquires New Holdings in Penumbra, Inc. (NYSE:PEN)

Lecap Asset Management Ltd. acquired a new stake in shares of Penumbra, Inc. (NYSE:PEN) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,243 shares of the company’s stock, valued at approximately $313,000.

Several other hedge funds also recently bought and sold shares of PEN. Raymond James & Associates grew its stake in Penumbra by 8.1% during the first quarter. Raymond James & Associates now owns 8,565 shares of the company’s stock valued at $1,903,000 after acquiring an additional 641 shares in the last quarter. Citigroup Inc. lifted its position in Penumbra by 44.5% during the first quarter. Citigroup Inc. now owns 4,979 shares of the company’s stock valued at $1,106,000 after purchasing an additional 1,534 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in Penumbra by 15.7% during the first quarter. PNC Financial Services Group Inc. now owns 1,211 shares of the company’s stock valued at $269,000 after purchasing an additional 164 shares during the last quarter. Great West Life Assurance Co. Can lifted its position in Penumbra by 8.0% during the first quarter. Great West Life Assurance Co. Can now owns 19,045 shares of the company’s stock valued at $4,348,000 after purchasing an additional 1,417 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Penumbra by 3.1% during the first quarter. Dimensional Fund Advisors LP now owns 90,610 shares of the company’s stock valued at $20,123,000 after purchasing an additional 2,717 shares during the last quarter. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PEN. Piper Sandler restated an “overweight” rating and issued a $290.00 price objective on shares of Penumbra in a report on Wednesday, April 3rd. JPMorgan Chase & Co. lowered shares of Penumbra from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $284.00 to $250.00 in a report on Friday, February 23rd. TheStreet upgraded shares of Penumbra from a “d+” rating to a “c-” rating in a report on Friday, January 12th. 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. Finally, Truist Financial lowered their price target on shares of Penumbra from $290.00 to $280.00 and set a “buy” rating for the company in a report on Friday, March 22nd. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $304.45.

Penumbra Stock Down 3.3 %

Shares of Penumbra stock opened at $210.17 on Tuesday. The company’s fifty day simple moving average is $239.43 and its two-hundred day simple moving average is $233.37. The company has a market cap of $8.13 billion, a P/E ratio of 90.98, a PEG ratio of 2.15 and a beta of 0.51. The company has a current ratio of 6.06, a quick ratio of 3.49 and a debt-to-equity ratio of 0.02. Penumbra, Inc. has a 12-month low of $180.93 and a 12-month high of $348.67.

Penumbra (NYSE:PEN) last issued its quarterly earnings results on Thursday, February 22nd. The company reported $0.76 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $286.62 million. During the same period last year, the business earned $0.16 EPS. Penumbra’s quarterly revenue was up 28.7% compared to the same quarter last year. Research analysts anticipate that Penumbra, Inc. will post 2.85 EPS for the current year.

Insider Buying and Selling at Penumbra

In other Penumbra news, EVP Johanna Roberts sold 600 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $217.07, for a total transaction of $130,242.00. Following the completion of the transaction, the executive vice president now owns 64,281 shares of the company’s stock, valued at $13,953,476.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Penumbra news, Director Arani Bose sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $250.20, for a total transaction of $1,876,500.00. Following the completion of the transaction, the director now owns 164,294 shares of the company’s stock, valued at $41,106,358.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Johanna Roberts sold 600 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $13,953,476.67. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,648 shares of company stock valued at $2,369,903. Corporate insiders own 5.30% of the company’s stock.

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.