JGP Global Gestao de Recursos Ltda. Makes New $214,000 Investment in Penumbra, Inc. (NYSE:PEN)

JGP Global Gestao de Recursos Ltda. bought a new stake in shares of Penumbra, Inc. (NYSE:PEN) in the fourth quarter, Holdings Channel reports. The fund bought 901 shares of the company’s stock, valued at approximately $214,000.

Other institutional investors also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. lifted its stake in Penumbra by 1,845.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 389 shares of the company’s stock worth $70,000 after purchasing an additional 369 shares in the last quarter. Handelsbanken Fonder AB lifted its stake in Penumbra by 17.7% in the 3rd quarter. Handelsbanken Fonder AB now owns 10,658 shares of the company’s stock worth $2,071,000 after purchasing an additional 1,600 shares in the last quarter. GAMMA Investing LLC grew its position in Penumbra by 111.1% in the third quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock worth $33,000 after acquiring an additional 90 shares in the last quarter. Diversified Trust Co increased its stake in Penumbra by 22.8% in the third quarter. Diversified Trust Co now owns 9,971 shares of the company’s stock valued at $1,937,000 after acquiring an additional 1,852 shares during the last quarter. Finally, Park Place Capital Corp raised its position in Penumbra by 1,473.9% during the third quarter. Park Place Capital Corp now owns 362 shares of the company’s stock valued at $70,000 after purchasing an additional 339 shares in the last quarter. 88.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on PEN shares. Wells Fargo & Company raised shares of Penumbra from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $190.00 to $275.00 in a research note on Wednesday, December 11th. Needham & Company LLC reiterated a “hold” rating on shares of Penumbra in a report on Thursday, October 31st. UBS Group initiated coverage on shares of Penumbra in a report on Tuesday, January 21st. They issued a “buy” rating and a $305.00 price target on the stock. BTIG Research boosted their target price on shares of Penumbra from $232.00 to $270.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Finally, Royal Bank of Canada lifted their price target on Penumbra from $205.00 to $222.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $261.36.

Insider Buying and Selling at Penumbra

In related news, EVP Johanna Roberts sold 600 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $244.49, for a total transaction of $146,694.00. Following the completion of the transaction, the executive vice president now directly owns 63,444 shares of the company’s stock, valued at $15,511,423.56. The trade was a 0.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Harpreet Grewal sold 167 shares of the company’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $241.28, for a total value of $40,293.76. Following the transaction, the director now directly owns 8,530 shares of the company’s stock, valued at approximately $2,058,118.40. This represents a 1.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,819 shares of company stock worth $8,129,483 over the last quarter. 5.00% of the stock is currently owned by company insiders.

Penumbra Stock Performance

NYSE PEN opened at $267.17 on Monday. The stock’s fifty day moving average is $250.90 and its two-hundred day moving average is $218.79. The firm has a market capitalization of $10.25 billion, a P/E ratio of 310.67, a price-to-earnings-growth ratio of 1.96 and a beta of 0.53. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.25 and a current ratio of 5.82. Penumbra, Inc. has a fifty-two week low of $148.00 and a fifty-two week high of $277.89.

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.