QRG Capital Management Inc. Purchases 110 Shares of Penumbra, Inc. $PEN

QRG Capital Management Inc. raised its position in shares of Penumbra, Inc. (NYSE:PEN) by 6.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,918 shares of the company’s stock after purchasing an additional 110 shares during the period. QRG Capital Management Inc.’s holdings in Penumbra were worth $492,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of PEN. Merit Financial Group LLC bought a new position in Penumbra during the first quarter valued at $207,000. UMB Bank n.a. boosted its holdings in shares of Penumbra by 110.4% in the first quarter. UMB Bank n.a. now owns 404 shares of the company’s stock worth $108,000 after acquiring an additional 212 shares during the period. Farther Finance Advisors LLC boosted its holdings in shares of Penumbra by 606.3% in the first quarter. Farther Finance Advisors LLC now owns 445 shares of the company’s stock worth $121,000 after acquiring an additional 382 shares during the period. Pallas Capital Advisors LLC boosted its holdings in shares of Penumbra by 54.5% in the first quarter. Pallas Capital Advisors LLC now owns 1,712 shares of the company’s stock worth $458,000 after acquiring an additional 604 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in shares of Penumbra by 59.0% in the first quarter. GAMMA Investing LLC now owns 709 shares of the company’s stock worth $190,000 after acquiring an additional 263 shares during the period. 88.88% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO Maggie Yuen sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $250.00, for a total transaction of $500,000.00. Following the transaction, the chief financial officer directly owned 12,943 shares of the company’s stock, valued at approximately $3,235,750. This trade represents a 13.38% decrease in their ownership of the stock. The sale 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 firm’s stock in a transaction dated 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 in the company, valued at $17,549,007.06. This trade represents a 0.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 80,610 shares of company stock valued at $20,088,148. Company insiders own 4.20% of the company’s stock.

Analysts Set New Price Targets

PEN has been the subject of a number of analyst reports. Truist Financial set a $310.00 price target on Penumbra and gave the stock a “buy” rating in a report on Wednesday, July 30th. Wall Street Zen raised Penumbra from a “hold” rating to a “buy” rating in a report on Saturday. William Blair raised Penumbra to a “strong-buy” rating in a report on Friday, July 18th. Canaccord Genuity Group set a $350.00 price target on Penumbra and gave the stock a “buy” rating in a report on Wednesday, July 30th. Finally, Evercore ISI cut their price target on Penumbra from $300.00 to $285.00 and set an “outperform” rating for the company in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $303.44.

Penumbra Stock Down 0.2%

Shares of NYSE:PEN opened at $260.96 on Friday. The stock’s 50-day moving average price is $259.23 and its 200-day moving average price is $262.09. Penumbra, Inc. has a 12-month low of $193.49 and a 12-month high of $310.00. The stock has a market capitalization of $10.18 billion, a P/E ratio of 69.40, a price-to-earnings-growth ratio of 2.36 and a beta of 0.41. The company has a current ratio of 6.75, a quick ratio of 4.04 and a debt-to-equity ratio of 0.02.

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 analysts’ consensus estimates of $0.81 by $0.05. Penumbra had a return on equity of 11.55% and a net margin of 11.54%.The firm had revenue of $339.46 million for the quarter, compared to analysts’ expectations of $327.37 million. During the same period last year, the firm earned $0.64 earnings per share. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. Penumbra has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that Penumbra, Inc. will post 3.67 earnings per share for the current year.

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.