Janney Montgomery Scott LLC Purchases 21,718 Shares of Penumbra, Inc. $PEN

Janney Montgomery Scott LLC increased its position in Penumbra, Inc. (NYSE:PEN) by 716.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,749 shares of the company’s stock after acquiring an additional 21,718 shares during the quarter. Janney Montgomery Scott LLC owned about 0.06% of Penumbra worth $6,351,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Concurrent Investment Advisors LLC bought a new position in shares of Penumbra in the first quarter valued at approximately $259,000. GAMMA Investing LLC boosted its position in shares of Penumbra by 59.0% in the first quarter. GAMMA Investing LLC now owns 709 shares of the company’s stock valued at $190,000 after acquiring an additional 263 shares during the period. Fortis Capital Advisors LLC bought a new position in shares of Penumbra in the first quarter valued at approximately $732,000. Belpointe Asset Management LLC bought a new position in shares of Penumbra in the first quarter valued at approximately $732,000. Finally, Sheets Smith Investment Management bought a new position in shares of Penumbra in the first quarter valued at approximately $773,000. 88.88% of the stock is currently owned by institutional investors.

Penumbra Stock Up 1.0%

Shares of NYSE PEN opened at $256.05 on Monday. The company has a quick ratio of 4.04, a current ratio of 6.75 and a debt-to-equity ratio of 0.02. Penumbra, Inc. has a 52 week low of $190.08 and a 52 week high of $310.00. The firm’s fifty day moving average is $257.64 and its 200 day moving average is $262.72. The company has a market cap of $9.99 billion, a price-to-earnings ratio of 68.10, a PEG ratio of 2.31 and a beta of 0.41.

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. UBS Group set a $335.00 target price on shares of Penumbra and gave the company a “buy” rating in a research report on Wednesday, July 30th. Robert W. Baird lifted their target price on shares of Penumbra from $283.00 to $285.00 and gave the company an “outperform” rating in a research report on Wednesday, July 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Penumbra in a research report on Saturday, September 27th. Evercore ISI assumed coverage on shares of Penumbra in a research report on Tuesday, September 2nd. They set an “outperform” rating and a $300.00 target price for the company. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $302.93.

Insider Activity

In related news, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $270.58, for a total value of $162,348.00. Following the transaction, the executive vice president directly owned 64,857 shares of the company’s stock, valued at $17,549,007.06. The trade was a 0.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Arani Bose sold 12,000 shares of Penumbra stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $250.65, for a total transaction of $3,007,800.00. Following the completion of the transaction, the director directly owned 558 shares in the company, valued at approximately $139,862.70. The trade was a 95.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 96,595 shares of company stock valued at $23,984,492 in the last three months. Corporate insiders own 5.00% of the company’s stock.

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.