1,591 Shares in Penumbra, Inc. $PEN Purchased by Park Avenue Securities LLC

Park Avenue Securities LLC purchased a new stake in shares of Penumbra, Inc. (NYSE:PEN) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,591 shares of the company’s stock, valued at approximately $408,000.

Several other institutional investors have also added to or reduced their stakes in PEN. Vanguard Group Inc. raised its position in shares of Penumbra by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 3,675,349 shares of the company’s stock valued at $982,825,000 after buying an additional 24,727 shares in the last quarter. JPMorgan Chase & Co. raised its position in Penumbra by 437.0% during the 1st quarter. JPMorgan Chase & Co. now owns 703,634 shares of the company’s stock valued at $188,159,000 after purchasing an additional 572,606 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Penumbra by 7.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 321,046 shares of the company’s stock worth $87,045,000 after acquiring an additional 21,649 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Penumbra by 4.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 283,821 shares of the company’s stock worth $75,897,000 after purchasing an additional 12,247 shares during the period. Finally, Lord Abbett & CO. LLC purchased a new stake in Penumbra during the first quarter worth $63,731,000. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Penumbra Stock Down 0.5%

PEN stock opened at $252.02 on Tuesday. Penumbra, Inc. has a one year low of $186.96 and a one year high of $310.00. The firm’s 50 day moving average price is $255.99 and its 200-day moving average price is $263.42. The firm has a market cap of $9.83 billion, a PE ratio of 67.03, a PEG ratio of 2.28 and a beta of 0.45. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.04 and a current ratio of 6.75.

Penumbra (NYSE:PEN) last released its quarterly earnings results on Tuesday, July 29th. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. The business had revenue of $339.46 million during the quarter, compared to analysts’ expectations of $327.37 million. Penumbra had a return on equity of 11.55% and a net margin of 11.54%.The company’s revenue was up 13.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.64 EPS. Penumbra has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that Penumbra, Inc. will post 3.67 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Adam Elsesser sold 15,800 shares of the business’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $269.65, for a total value of $4,260,470.00. Following the sale, the chief executive officer owned 182,460 shares in the company, valued at approximately $49,200,339. The trade was a 7.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Johanna Roberts sold 600 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $270.58, for a total transaction of $162,348.00. Following the sale, the executive vice president directly owned 64,857 shares in the company, valued at $17,549,007.06. This represents a 0.92% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 95,623 shares of company stock valued at $23,741,200. Insiders own 5.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PEN. Wall Street Zen cut shares of Penumbra from a “buy” rating to a “hold” rating in a report on Friday. William Blair raised Penumbra to a “strong-buy” rating in a report on Friday, July 18th. Truist Financial set a $310.00 target price on shares of Penumbra and gave the company a “buy” rating in a research report on Wednesday, July 30th. UBS Group set a $335.00 price objective on Penumbra and gave the stock a “buy” rating in a research report on Wednesday, July 30th. Finally, Wells Fargo & Company cut their price target on Penumbra from $315.00 to $290.00 and set an “overweight” rating for the company in a research note on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Penumbra presently has a consensus rating of “Moderate Buy” and a consensus target price of $302.93.

Penumbra Company Profile

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.