Penumbra, Inc. $PEN Shares Acquired by Intech Investment Management LLC

Intech Investment Management LLC lifted its stake in shares of Penumbra, Inc. (NYSE:PEN) by 559.8% during the second quarter, Holdings Channel reports. The firm owned 43,222 shares of the company’s stock after purchasing an additional 36,671 shares during the quarter. Intech Investment Management LLC’s holdings in Penumbra were worth $11,092,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of PEN. Vanguard Group Inc. boosted its position in shares of Penumbra by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 3,675,349 shares of the company’s stock valued at $982,825,000 after purchasing an additional 24,727 shares during the period. Geode Capital Management LLC lifted its stake in Penumbra by 2.6% during the second quarter. Geode Capital Management LLC now owns 706,404 shares of the company’s stock valued at $181,314,000 after buying an additional 17,772 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Penumbra by 437.0% during the first quarter. JPMorgan Chase & Co. now owns 703,634 shares of the company’s stock valued at $188,159,000 after buying an additional 572,606 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Penumbra by 0.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 322,030 shares of the company’s stock worth $80,726,000 after buying an additional 984 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Penumbra by 4.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 283,821 shares of the company’s stock worth $75,897,000 after acquiring an additional 12,247 shares in the last quarter. 88.88% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PEN has been the subject of several research analyst reports. Wall Street Zen downgraded shares of Penumbra from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. BTIG Research reissued a “buy” rating and set a $320.00 target price on shares of Penumbra in a research note on Monday, October 27th. UBS Group set a $335.00 target price on Penumbra and gave the stock a “buy” rating in a research report on Wednesday, July 30th. JPMorgan Chase & Co. lifted 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. Finally, Royal Bank Of Canada dropped their price target on Penumbra from $330.00 to $325.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Penumbra presently has a consensus rating of “Moderate Buy” and a consensus price target of $305.69.

Insider Transactions at Penumbra

In other news, Director Thomas Wilder sold 186 shares of the stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $253.93, for a total transaction of $47,230.98. Following the transaction, the director owned 186 shares in the company, valued at $47,230.98. This represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Adam Elsesser sold 15,800 shares of the firm’s stock in a transaction on 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 in the company, valued at $49,200,339. This represents a 7.97% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 34,430 shares of company stock worth $9,008,613. 4.20% of the stock is owned by corporate insiders.

Penumbra Price Performance

Shares of NYSE:PEN opened at $280.33 on Friday. The firm has a market cap of $10.98 billion, a price-to-earnings ratio of 74.56, a P/E/G 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 current ratio of 6.75, a quick ratio of 4.04 and a debt-to-equity ratio of 0.02. The business has a fifty day simple moving average of $256.27 and a 200 day simple moving average of $257.94.

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