Fortis Capital Advisors LLC Invests $732,000 in Penumbra, Inc. $PEN

Fortis Capital Advisors LLC purchased a new position in Penumbra, Inc. (NYSE:PEN) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,736 shares of the company’s stock, valued at approximately $732,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Concurrent Investment Advisors LLC bought a new position in shares of Penumbra in the first quarter worth $259,000. GAMMA Investing LLC boosted its stake in Penumbra by 59.0% during the first quarter. GAMMA Investing LLC now owns 709 shares of the company’s stock valued at $190,000 after buying an additional 263 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in Penumbra by 606.3% during the first quarter. Farther Finance Advisors LLC now owns 445 shares of the company’s stock valued at $121,000 after buying an additional 382 shares in the last quarter. Gotham Asset Management LLC bought a new position in Penumbra during the fourth quarter valued at about $275,000. Finally, Cambridge Investment Research Advisors Inc. bought a new position in Penumbra during the first quarter valued at about $2,614,000. Institutional investors own 88.88% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on PEN shares. Robert W. Baird raised their target price on Penumbra from $283.00 to $285.00 and gave the company an “outperform” rating in a research note on Wednesday, July 30th. Royal Bank Of Canada decreased their target price on Penumbra from $330.00 to $325.00 and set an “outperform” rating for the company in a research note on Wednesday, July 30th. UBS Group set a $335.00 target price on Penumbra and gave the company a “buy” rating in a research note on Wednesday, July 30th. Citigroup decreased their target price on Penumbra from $320.00 to $285.00 and set a “neutral” rating for the company in a research note on Wednesday, July 9th. Finally, Truist Financial set a $310.00 target price on Penumbra and gave the company a “buy” rating in a research note on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $302.93.

Penumbra Trading Down 5.2%

NYSE:PEN opened at $272.24 on Thursday. 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 1-year low of $184.80 and a 1-year high of $310.00. The firm has a market capitalization of $10.62 billion, a price-to-earnings ratio of 72.41, a price-to-earnings-growth ratio of 2.59 and a beta of 0.45. The stock has a fifty day simple moving average of $251.09 and a 200 day simple moving average of $265.25.

Penumbra (NYSE:PEN) last released its quarterly earnings results on Tuesday, July 29th. The company reported $0.86 earnings per share 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 business had revenue of $339.46 million during the quarter, compared to analyst estimates of $327.37 million. During the same quarter last year, the company posted $0.64 EPS. Penumbra’s revenue for the quarter was up 13.4% on a year-over-year basis. Penumbra has set its FY 2025 guidance at EPS. Sell-side analysts forecast that Penumbra, Inc. will post 3.67 earnings per share for the current year.

Insider Transactions at Penumbra

In related news, CFO Maggie Yuen sold 2,000 shares of the stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $250.00, for a total value of $500,000.00. Following the completion of the sale, the chief financial officer directly owned 12,943 shares of the company’s stock, valued at approximately $3,235,750. This represents a 13.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 value of $162,348.00. Following the completion of the sale, the executive vice president directly owned 64,857 shares of the company’s stock, valued at approximately $17,549,007.06. This represents a 0.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 112,163 shares of company stock worth $27,932,335. 4.20% of the stock is currently owned by company insiders.

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.