Penumbra, Inc. $PEN Position Boosted by Intech Investment Management LLC

Intech Investment Management LLC increased its position in Penumbra, Inc. (NYSE:PEN) by 559.8% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 43,222 shares of the company’s stock after purchasing an additional 36,671 shares during the period. Intech Investment Management LLC owned 0.11% of Penumbra worth $11,092,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Machina Capital S.A.S. bought a new stake in shares of Penumbra during the 2nd quarter valued at about $369,000. Fortis Capital Advisors LLC acquired a new position in Penumbra in the first quarter valued at approximately $732,000. Belpointe Asset Management LLC acquired a new position in Penumbra in the first quarter valued at approximately $732,000. Sheets Smith Investment Management bought a new position in shares of Penumbra during the first quarter valued at approximately $773,000. Finally, E. Ohman J or Asset Management AB raised its position in shares of Penumbra by 10.2% during the 2nd quarter. E. Ohman J or Asset Management AB now owns 18,312 shares of the company’s stock worth $4,699,000 after purchasing an additional 1,700 shares during the period. Institutional investors and hedge funds own 88.88% of the company’s stock.

Penumbra Trading Up 0.6%

Shares of NYSE:PEN opened at $280.33 on Friday. The company has a 50 day moving average of $256.27 and a 200-day moving average of $257.94. The company has a current ratio of 6.75, a quick ratio of 4.04 and a debt-to-equity ratio of 0.02. The firm has a market cap of $10.98 billion, a P/E ratio of 74.56, a P/E/G ratio of 2.10 and a beta of 0.51. Penumbra, Inc. has a twelve month low of $221.26 and a twelve month high of $310.00.

Penumbra (NYSE:PEN) last announced its earnings results on Wednesday, November 5th. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.90 by $0.07. The firm had revenue of $354.69 million for the quarter, compared to analysts’ expectations of $340.77 million. Penumbra had a return on equity of 11.55% and a net margin of 11.54%.The firm’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.85 earnings per share. Penumbra has set its FY 2025 guidance at EPS. As a group, analysts anticipate that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal year.

Insider Transactions at Penumbra

In other Penumbra news, EVP Johanna Roberts sold 600 shares of the company’s stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $266.98, for a total value of $160,188.00. Following the completion of the sale, the executive vice president directly owned 63,657 shares of the company’s stock, valued at approximately $16,995,145.86. This represents a 0.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Adam Elsesser sold 15,800 shares of the firm’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $269.65, for a total transaction of $4,260,470.00. Following the transaction, the chief executive officer owned 182,460 shares of the company’s stock, valued at approximately $49,200,339. This trade represents a 7.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 34,430 shares of company stock worth $9,008,613 over the last 90 days. 4.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on PEN shares. Robert W. Baird boosted their price objective on Penumbra from $283.00 to $285.00 and gave the company an “outperform” rating in a research report on Wednesday, July 30th. JPMorgan Chase & Co. raised their target price on Penumbra from $265.00 to $275.00 and gave the company a “neutral” rating in a research note on Thursday, November 6th. Wells Fargo & Company set a $290.00 price target on shares of Penumbra in a report on Wednesday, October 1st. BTIG Research reaffirmed a “buy” rating and issued a $320.00 price objective on shares of Penumbra in a report on Monday, October 27th. Finally, Needham & Company LLC reissued a “buy” rating and set a $326.00 target price on shares of Penumbra in a research note on Monday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Penumbra presently has an average rating of “Moderate Buy” and a consensus price target of $305.69.

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.