Wealth Enhancement Advisory Services LLC Raises Holdings in Penumbra, Inc. $PEN

Wealth Enhancement Advisory Services LLC increased its position in shares of Penumbra, Inc. (NYSE:PEN) by 53.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,999 shares of the company’s stock after purchasing an additional 1,748 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Penumbra were worth $1,255,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Penumbra by 0.7% in 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. grew its holdings in Penumbra by 437.0% in the 1st quarter. JPMorgan Chase & Co. now owns 703,634 shares of the company’s stock valued at $188,159,000 after buying an additional 572,606 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Penumbra by 7.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 321,046 shares of the company’s stock valued at $87,045,000 after buying an additional 21,649 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Penumbra by 4.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 283,821 shares of the company’s stock valued at $75,897,000 after buying an additional 12,247 shares in the last quarter. Finally, Lord Abbett & CO. LLC purchased a new position in shares of Penumbra during the 1st quarter worth $63,731,000. 88.88% of the stock is currently owned by hedge funds and other institutional investors.

Penumbra Stock Performance

Shares of PEN opened at $253.30 on Wednesday. The stock has a 50-day simple moving average of $256.41 and a 200-day simple moving average of $263.35. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.04 and a current ratio of 6.75. The stock has a market capitalization of $9.88 billion, a PE ratio of 67.37, a PEG ratio of 2.27 and a beta of 0.45. Penumbra, Inc. has a 1 year low of $186.96 and a 1 year high of $310.00.

Penumbra (NYSE:PEN) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.64 EPS. Penumbra has set its FY 2025 guidance at EPS. On average, analysts predict that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $270.58, for a total value of $162,348.00. Following the completion of the transaction, the executive vice president owned 64,857 shares in the company, valued at approximately $17,549,007.06. This trade represents a 0.92% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Thomas Wilder sold 372 shares of Penumbra stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $240.16, for a total value of $89,339.52. Following the completion of the transaction, the director owned 372 shares of the company’s stock, valued at $89,339.52. The trade was a 50.00% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 95,623 shares of company stock worth $23,741,200. Corporate insiders own 5.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PEN. Royal Bank Of Canada lowered their price target on Penumbra from $330.00 to $325.00 and set an “outperform” rating for the company in a report on Wednesday, July 30th. William Blair upgraded Penumbra to a “strong-buy” rating in a report on Friday, July 18th. Robert W. Baird increased their price target on Penumbra from $283.00 to $285.00 and gave the stock an “outperform” rating in a report on Wednesday, July 30th. Morgan Stanley increased their price target on Penumbra from $260.00 to $266.00 and gave the stock an “equal weight” rating in a report on Thursday, July 31st. Finally, Citigroup lowered their price target on Penumbra from $320.00 to $285.00 and set a “neutral” rating for the company in a report on Wednesday, July 9th. One investment 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, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $302.93.

Penumbra 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.