Bridgewater Associates LP Has $1.13 Million Stock Holdings in Penumbra, Inc. (NYSE:PEN)

Bridgewater Associates LP decreased its holdings in shares of Penumbra, Inc. (NYSE:PEN) by 70.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,789 shares of the company’s stock after selling 13,613 shares during the quarter. Bridgewater Associates LP’s holdings in Penumbra were worth $1,125,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of PEN. First Hawaiian Bank acquired a new position in Penumbra during the second quarter worth $1,597,000. Tidal Investments LLC raised its stake in shares of Penumbra by 276.9% in the 1st quarter. Tidal Investments LLC now owns 4,971 shares of the company’s stock valued at $1,109,000 after acquiring an additional 3,652 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in shares of Penumbra by 3,832.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 368,298 shares of the company’s stock valued at $71,564,000 after acquiring an additional 358,932 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in Penumbra in the 2nd quarter worth approximately $17,943,000. Finally, Vontobel Holding Ltd. bought a new stake in Penumbra during the third quarter worth approximately $1,092,000. Institutional investors own 88.88% of the company’s stock.

Penumbra Stock Down 0.0 %

Shares of PEN stock opened at $244.12 on Monday. The stock has a market cap of $9.37 billion, a P/E ratio of 283.86, a price-to-earnings-growth ratio of 2.46 and a beta of 0.51. Penumbra, Inc. has a one year low of $148.00 and a one year high of $277.34. The stock has a fifty day moving average price of $216.76 and a 200 day moving average price of $198.44. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.82 and a quick ratio of 3.25.

Penumbra (NYSE:PEN) last issued its earnings results on Wednesday, October 30th. The company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.69 by $0.16. The firm had revenue of $301.04 million during the quarter, compared to analysts’ expectations of $297.36 million. Penumbra had a return on equity of 8.99% and a net margin of 2.97%. Penumbra’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period last year, the business earned $0.67 earnings per share. Analysts predict that Penumbra, Inc. will post 2.81 earnings per share for the current year.

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

Insider Buying and Selling

In other Penumbra news, EVP Johanna Roberts sold 600 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $190.76, for a total transaction of $114,456.00. Following the completion of the transaction, the executive vice president now directly owns 60,488 shares in the company, valued at $11,538,690.88. This represents a 0.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Harpreet Grewal sold 166 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $190.83, for a total value of $31,677.78. Following the transaction, the director now owns 8,697 shares of the company’s stock, valued at $1,659,648.51. This represents a 1.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 47,748 shares of company stock valued at $10,166,574 over the last ninety days. 5.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

PEN has been the subject of a number of recent analyst reports. Leerink Partners initiated coverage on Penumbra in a research report on Tuesday, September 3rd. They set an “outperform” rating and a $263.00 target price for the company. Stifel Nicolaus initiated coverage on Penumbra in a research report on Tuesday, September 17th. They set a “buy” rating and a $238.00 target price for the company. Canaccord Genuity Group upped their target price on Penumbra from $176.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Royal Bank of Canada upped their target price on Penumbra from $205.00 to $222.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Penumbra in a research report on Thursday, October 31st. Five investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $230.92.

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.