5 Best Healthcare Stocks To Buy Now According To Motley Fool’s 1623 Capital

In this article, we talk about the 5 best healthcare stocks to buy now according to Motley Fool’s 1623 Capital. If you wish to read our detailed analysis of 1623 Capital’s hedge fund performance and stock picks, go directly to 10 Best Healthcare Stocks To Buy Now According To Motley Fool’s 1623 Capital.

5. Penumbra, Inc. (NYSE:PEN)

1623 Capital’s Stake Value: $525,000

Percentage of 1623 Capital’s 13F portfolio: 0.26%

Number of Hedge Fund Holders: 29

Up next is Penumbra, Inc. (NYSE:PEN), a California-based company which deals in the development of devices for interventional therapies to treat vascular conditions such as aneurism and stroke.

Investors were seen piling into Penumbra, Inc. (NYSE:PEN). At the end of March, 29 hedge funds were long Penumbra, Inc. (NYSE:PEN), as compared to 23 hedge funds at the end of December. The total value of Q1 hedge fund holdings stood at nearly $410 million.

Penumbra, Inc. (NYSE:PEN) was given a ‘Buy’ rating by Citi analyst Joanne Wuensch on May 17 with a price target of $220. Deutsche Bank analyst Pito Chickering also gave the company a ‘Buy’ rating in April, and noted that it is well-positioned for “premium growth sustainably” in the coming years ahead. The analyst forecasts 15% annual sales growth through 2025, driven by the adoption of the firm’s mechanical thrombectomy aspiration catheters across multiple large patient populations with a low penetration and high unmet clinical need.

Ken Griffin’s Citadel Investment Group was the most prominent shareholder of Penumbra, Inc. (NYSE:PEN) in the first quarter, with a stake consisting of 367,000 shares priced at $81.6 million. Israel Englander’s Millennium Management was also bullish on the company with a $50 million stake.

Here is what ClearBridge Investments had to say about Penumbra, Inc. (NYSE:PEN) in its Q4 2021 investor letter:

“Our aversion toward early-stage biotech proved productive as did our approach of emphasizing the enablers and selected, profitable medical technology companies. Strong contributors during the fourth quarter included Penumbra, a developer of stents and related products to treat aneurysms that saw it shares recover from a product recall earlier in the year.”