1,810 Shares in Penumbra, Inc. $PEN Purchased by AXQ Capital LP

AXQ Capital LP acquired a new stake in shares of Penumbra, Inc. (NYSE:PEN) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,810 shares of the company’s stock, valued at approximately $464,000.

Several other large investors also recently modified their holdings of the stock. GAMMA Investing LLC lifted its position in shares of Penumbra by 7.3% during the 2nd quarter. GAMMA Investing LLC now owns 761 shares of the company’s stock worth $195,000 after buying an additional 52 shares during the period. Parkside Financial Bank & Trust raised its stake in Penumbra by 70.2% during the second quarter. Parkside Financial Bank & Trust now owns 160 shares of the company’s stock worth $41,000 after acquiring an additional 66 shares in the last quarter. Louisiana State Employees Retirement System lifted its holdings in shares of Penumbra by 0.9% during the second quarter. Louisiana State Employees Retirement System now owns 10,900 shares of the company’s stock valued at $2,797,000 after acquiring an additional 100 shares during the period. New York State Teachers Retirement System lifted its holdings in shares of Penumbra by 0.3% during the second quarter. New York State Teachers Retirement System now owns 38,154 shares of the company’s stock valued at $9,791,000 after acquiring an additional 100 shares during the period. Finally, Securian Asset Management Inc. boosted its stake in shares of Penumbra by 3.4% in the 2nd quarter. Securian Asset Management Inc. now owns 3,001 shares of the company’s stock valued at $770,000 after purchasing an additional 100 shares in the last quarter. 88.88% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Penumbra

In other news, Director Harpreet Grewal sold 186 shares of the company’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $227.58, for a total value of $42,329.88. Following the sale, the director directly owned 8,516 shares of the company’s stock, valued at approximately $1,938,071.28. This represents a 2.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Adam Elsesser sold 15,800 shares of Penumbra stock in a transaction that occurred 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 transaction, the chief executive officer owned 182,460 shares of the company’s stock, valued at $49,200,339. This represents a 7.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 18,530 shares of company stock valued at $4,961,586 over the last quarter. 4.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on PEN. Wells Fargo & Company assumed coverage on shares of Penumbra in a research report on Tuesday, November 18th. They set an “underweight” rating for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $326.00 price objective on shares of Penumbra in a research note on Monday, October 27th. 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 note on Wednesday, July 30th. Truist Financial decreased their price target on Penumbra from $310.00 to $300.00 and set a “buy” rating on the stock in a research report on Wednesday, October 15th. Finally, JPMorgan Chase & Co. raised their price target on Penumbra from $265.00 to $275.00 and gave the company a “neutral” rating in a report on Thursday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $305.69.

Penumbra Stock Up 3.2%

Shares of Penumbra stock opened at $288.86 on Monday. The company has a market capitalization of $11.31 billion, a P/E ratio of 76.82, a price-to-earnings-growth ratio of 2.10 and a beta of 0.51. Penumbra, Inc. has a 1 year low of $221.26 and a 1 year high of $310.00. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.75 and a quick ratio of 4.04. The business has a 50-day moving average of $256.55 and a two-hundred day moving average of $257.33.

Penumbra (NYSE:PEN) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.07. The business had revenue of $354.69 million for the quarter, compared to analyst estimates of $340.77 million. Penumbra had a net margin of 11.54% and a return on equity of 11.55%. The firm’s quarterly revenue was up 17.8% on a year-over-year basis. During the same period last year, the business posted $0.85 earnings per share. Penumbra has set its FY 2025 guidance at EPS. As a group, equities analysts predict that Penumbra, Inc. will post 3.67 EPS for the current year.

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.