J2 Capital Management Inc Invests $431,000 in Penumbra, Inc. $PEN

J2 Capital Management Inc acquired a new position in shares of Penumbra, Inc. (NYSE:PEN) in the second quarter, Holdings Channel.com reports. The fund acquired 1,679 shares of the company’s stock, valued at approximately $431,000.

Several other hedge funds have also added to or reduced their stakes in PEN. Synergy Investment Management LLC bought a new stake in Penumbra in the first quarter worth $27,000. First Horizon Advisors Inc. lifted its stake in Penumbra by 404.8% in the first quarter. First Horizon Advisors Inc. now owns 106 shares of the company’s stock worth $28,000 after purchasing an additional 85 shares during the last quarter. AlphaQuest LLC bought a new stake in Penumbra in the first quarter worth $66,000. Caitong International Asset Management Co. Ltd bought a new stake in Penumbra in the first quarter worth $76,000. Finally, Versant Capital Management Inc lifted its stake in Penumbra by 893.5% in the first quarter. Versant Capital Management Inc now owns 308 shares of the company’s stock worth $82,000 after purchasing an additional 277 shares during the last quarter. 88.88% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Adam Elsesser sold 16,150 shares of the stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $233.16, for a total value of $3,765,534.00. Following the completion of the transaction, the chief executive officer directly owned 146,258 shares of the company’s stock, valued at $34,101,515.28. This represents a 9.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas Wilder sold 372 shares of the stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $240.16, for a total transaction of $89,339.52. Following the completion of the transaction, the director directly owned 372 shares of the company’s stock, valued at approximately $89,339.52. The trade was a 50.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 95,623 shares of company stock valued at $23,741,200 over the last quarter. 4.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Evercore ISI assumed coverage on shares of Penumbra in a research note on Tuesday, September 2nd. They issued an “outperform” rating and a $300.00 price target for the company. Citigroup lowered their price target on shares of Penumbra from $320.00 to $285.00 and set a “neutral” rating for the company in a research note on Wednesday, July 9th. William Blair raised shares of Penumbra to a “strong-buy” rating in a research note on Friday, July 18th. Morgan Stanley upped their price objective on shares of Penumbra from $260.00 to $266.00 and gave the company an “equal weight” rating in a research note on Thursday, July 31st. Finally, Truist Financial set a $310.00 price objective on shares of Penumbra and gave the company a “buy” rating in a research note on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Penumbra currently has an average rating of “Moderate Buy” and an average price target of $302.93.

Penumbra Stock Performance

Shares of NYSE:PEN opened at $249.48 on Thursday. The company has a market cap of $9.73 billion, a price-to-earnings ratio of 66.35, a price-to-earnings-growth ratio of 2.28 and a beta of 0.41. The company has a 50-day moving average price of $256.72 and a 200-day moving average price of $263.26. 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, Inc. has a 12 month low of $187.84 and a 12 month high of $310.00.

Penumbra (NYSE:PEN) last released its quarterly earnings results on Tuesday, July 29th. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $327.37 million. During the same period in the prior year, the firm earned $0.64 earnings per share. Penumbra’s revenue was up 13.4% on a year-over-year basis. Penumbra has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that Penumbra, Inc. will post 3.67 EPS for the current year.

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.