Belpointe Asset Management LLC Buys Shares of 2,736 Penumbra, Inc. $PEN

Key Points

• Belpointe Asset Management LLC acquired 2,736 shares of Penumbra, Inc. for approximately $732,000 in the first quarter.
• Several institutional investors significantly increased their stakes in Penumbra, with BNP Paribas Financial Markets raising its position by 59.3%.
• Pennumbra reported earnings of $0.86 per share last quarter, surpassing analysts' expectations, with quarterly revenue reaching $339.46 million, a 13.4% increase from the previous year.

Belpointe Asset Management LLC bought a new stake in shares of Penumbra, Inc. (NYSE:PEN - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 2,736 shares of the company's stock, valued at approximately $732,000.

Several other institutional investors and hedge funds also recently made changes to their positions in PEN. BNP Paribas Financial Markets raised its position in shares of Penumbra by 59.3% during the 4th quarter. BNP Paribas Financial Markets now owns 6,523 shares of the company's stock valued at $1,549,000 after acquiring an additional 2,429 shares during the last quarter. Captrust Financial Advisors acquired a new position in shares of Penumbra in the 4th quarter valued at $343,000. Gotham Asset Management LLC acquired a new position in shares of Penumbra in the 4th quarter valued at $275,000. Jefferies Financial Group Inc. acquired a new position in shares of Penumbra in the 4th quarter valued at $760,000. Finally, Lazard Asset Management LLC grew its holdings in shares of Penumbra by 38.0% in the 4th quarter. Lazard Asset Management LLC now owns 3,827 shares of the company's stock valued at $908,000 after buying an additional 1,054 shares during the period. Institutional investors own 88.88% of the company's stock.

Insider Buying and Selling at Penumbra

In other news, EVP Johanna Roberts sold 600 shares of the stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $252.70, for a total transaction of $151,620.00. Following the completion of the transaction, the executive vice president directly owned 66,057 shares in the company, valued at $16,692,603.90. This represents a 0.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Maggie Yuen sold 2,000 shares of the stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $250.00, for a total transaction of $500,000.00. Following the transaction, the chief financial officer owned 12,943 shares of the company's stock, valued at approximately $3,235,750. This represents a 13.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 112,163 shares of company stock valued at $27,932,335. Corporate insiders own 4.20% of the company's stock.

Penumbra Price Performance

Shares of NYSE PEN opened at $273.54 on Friday. The firm has a market cap of $10.67 billion, a PE ratio of 72.75, a PEG ratio of 2.49 and a beta of 0.45. 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 1-year low of $184.80 and a 1-year high of $310.00. The company has a fifty day moving average price of $252.08 and a 200 day moving average price of $265.12.

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

Analyst Ratings Changes

Several brokerages have recently issued reports on PEN. UBS Group set a $335.00 price target on shares of Penumbra and gave the company a "buy" rating in a report on Wednesday, July 30th. Robert W. Baird boosted their price target on shares of Penumbra from $283.00 to $285.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Truist Financial set a $310.00 price target on shares of Penumbra and gave the company a "buy" rating in a report on Wednesday, July 30th. Canaccord Genuity Group set a $350.00 price target on shares of Penumbra and gave the company a "buy" rating in a report on Wednesday, July 30th. Finally, Wall Street Zen raised shares of Penumbra from a "hold" rating to a "buy" rating in a report on Saturday, August 30th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $302.93.

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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