Fox Run Management L.L.C. Invests $1.11 Million in Penumbra, Inc. $PEN

Key Points

• Fox Run Management L.L.C. has acquired 4,133 shares of Penumbra, Inc., valued at approximately $1,105,000, indicating growing institutional interest in the company.
• Penumbra reported a 13.4% increase in year-over-year revenue of $339.46 million and surpassed earnings expectations with an EPS of $0.86.
• Analysts have mixed ratings on Penumbra, with four rating it as a "hold," thirteen as "buy," and two as "strong buy," while the average target price stands at $300.47.

Fox Run Management L.L.C. acquired a new stake in shares of Penumbra, Inc. (NYSE:PEN - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 4,133 shares of the company's stock, valued at approximately $1,105,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Synergy Investment Management LLC bought a new stake in Penumbra during the 1st quarter valued at $27,000. First Horizon Advisors Inc. raised its stake in Penumbra by 404.8% during the 1st quarter. First Horizon Advisors Inc. now owns 106 shares of the company's stock valued at $28,000 after acquiring an additional 85 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in Penumbra during the 1st quarter valued at $76,000. Versant Capital Management Inc raised its stake in Penumbra by 893.5% during the 1st quarter. Versant Capital Management Inc now owns 308 shares of the company's stock valued at $82,000 after acquiring an additional 277 shares in the last quarter. Finally, Meeder Asset Management Inc. raised its stake in Penumbra by 1,966.7% during the 1st quarter. Meeder Asset Management Inc. now owns 372 shares of the company's stock valued at $99,000 after acquiring an additional 354 shares in the last quarter. Institutional investors own 88.88% of the company's stock.

Penumbra Trading Down 0.1%

Shares of Penumbra stock traded down $0.22 on Friday, reaching $252.99. 304,724 shares of the company were exchanged, compared to its average volume of 507,327. The stock has a fifty day moving average price of $246.04 and a 200-day moving average price of $265.56. The firm has a market capitalization of $9.87 billion, a price-to-earnings ratio of 67.28, a price-to-earnings-growth ratio of 2.28 and a beta of 0.40. 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 fifty-two week low of $184.80 and a fifty-two week high of $310.00.

Penumbra (NYSE:PEN - Get Free Report) last issued 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 for the quarter, compared to the consensus estimate of $327.37 million. During the same quarter in the previous year, the company posted $0.64 earnings per share. Penumbra's revenue for the quarter was up 13.4% compared to the same quarter last year. On average, analysts expect that Penumbra, Inc. will post 3.67 EPS for the current year.

Insiders Place Their Bets

In other Penumbra news, Director Arani Bose sold 12,000 shares of the business's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $250.65, for a total value of $3,007,800.00. Following the transaction, the director owned 558 shares in the company, valued at $139,862.70. The trade was a 95.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Adam Elsesser sold 16,300 shares of the business's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $267.91, for a total value of $4,366,933.00. Following the completion of the transaction, the chief executive officer owned 98,289 shares in the company, valued at $26,332,605.99. This trade represents a 14.22% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 112,487 shares of company stock worth $27,969,587. 5.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on PEN shares. Stifel Nicolaus set a $318.00 target price on Penumbra and gave the company a "buy" rating in a research note on Thursday, April 24th. Morgan Stanley boosted their price objective on Penumbra from $260.00 to $266.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 31st. Wall Street Zen downgraded Penumbra from a "strong-buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Wells Fargo & Company dropped their price objective on Penumbra from $315.00 to $290.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 30th. Finally, Canaccord Genuity Group set a $350.00 price objective on Penumbra and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $300.47.

About Penumbra

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.