111 Capital Acquires New Shares in Penumbra, Inc. $PEN

Key Points

• 111 Capital has acquired a new stake in Penumbra, Inc., purchasing 1,616 shares valued at approximately $415,000 during the second quarter.
• Pennumbra's stock has received positive attention from analysts, with a consensus price target of $302.93 and a significant number of buy ratings.
• Insider selling activity has been noteworthy, with CEO Adam Elsesser selling 15,800 shares, and a total of 96,595 shares sold by insiders over the last three months.

111 Capital acquired a new stake in Penumbra, Inc. (NYSE:PEN - Free Report) in the second quarter, according to its most recent filing with the SEC. The fund acquired 1,616 shares of the company's stock, valued at approximately $415,000.

A number of other hedge funds have also bought and sold shares of PEN. Wealth Enhancement Advisory Services LLC grew its stake in Penumbra by 74.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 3,115 shares of the company's stock valued at $740,000 after buying an additional 1,332 shares in the last quarter. Merit Financial Group LLC purchased a new position in shares of Penumbra during the 1st quarter valued at $207,000. UMB Bank n.a. grew its position in shares of Penumbra by 110.4% during the 1st quarter. UMB Bank n.a. now owns 404 shares of the company's stock valued at $108,000 after purchasing an additional 212 shares in the last quarter. Portside Wealth Group LLC grew its position in shares of Penumbra by 10.1% during the 1st quarter. Portside Wealth Group LLC now owns 2,288 shares of the company's stock valued at $612,000 after purchasing an additional 210 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its position in shares of Penumbra by 606.3% during the 1st quarter. Farther Finance Advisors LLC now owns 445 shares of the company's stock valued at $121,000 after purchasing an additional 382 shares in the last quarter. 88.88% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PEN has been the subject of a number of recent analyst reports. Weiss Ratings restated a "hold (c)" rating on shares of Penumbra in a research report on Saturday, September 27th. Evercore ISI started coverage on shares of Penumbra in a research report on Tuesday, September 2nd. They set an "outperform" rating and a $300.00 price target for the company. Robert W. Baird upped their target price on shares of Penumbra from $283.00 to $285.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. UBS Group set a $335.00 target price on shares of Penumbra and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Finally, Wells Fargo & Company set a $290.00 target price on shares of Penumbra in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $302.93.

Penumbra Stock Performance

Penumbra stock opened at $256.05 on Monday. The company has a quick ratio of 4.04, a current ratio of 6.75 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $9.99 billion, a PE ratio of 68.10, a P/E/G ratio of 2.31 and a beta of 0.41. The firm has a fifty day simple moving average of $257.64 and a two-hundred day simple moving average of $262.72. Penumbra, Inc. has a twelve month low of $190.08 and a twelve month high of $310.00.

Penumbra (NYSE:PEN - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.05. The business had revenue of $339.46 million during the quarter, compared to the consensus estimate of $327.37 million. Penumbra had a net margin of 11.54% and a return on equity of 11.55%. The firm's revenue for the quarter was up 13.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.64 earnings per share. Penumbra has set its FY 2025 guidance at EPS. Research analysts expect that Penumbra, Inc. will post 3.67 EPS for the current year.

Insiders Place Their Bets

In other Penumbra news, CEO Adam Elsesser sold 15,800 shares of the business's stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $269.65, for a total value of $4,260,470.00. Following the completion of the sale, the chief executive officer directly owned 182,460 shares of the company's stock, valued at $49,200,339. The trade was a 7.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Arani Bose sold 12,000 shares of the business's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $250.65, for a total transaction of $3,007,800.00. Following the completion of the sale, the director directly owned 558 shares of the company's stock, valued at $139,862.70. This represents a 95.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 96,595 shares of company stock valued at $23,984,492 over the last three months. 5.00% 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.

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