CHURCHILL MANAGEMENT Corp Takes $3.73 Million Position in Penumbra, Inc. $PEN

Key Points

• CHURCHILL MANAGEMENT Corp has acquired a new position in Penumbra, Inc., purchasing 14,542 shares worth approximately $3.73 million during the second quarter.
• Insider trading activity includes Director Arani Bose selling 12,000 shares and EVP Johanna Roberts selling 600 shares of Penumbra, indicating significant changes in executive ownership.
• Peneumbra's stock is currently down 1.5%, while analysts have set a consensus target price of $302.93 with ratings ranging from Buy to Strong Buy.

CHURCHILL MANAGEMENT Corp purchased a new stake in Penumbra, Inc. (NYSE:PEN - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 14,542 shares of the company's stock, valued at approximately $3,732,000.

A number of other large investors have also made changes to their positions in the company. JPMorgan Chase & Co. boosted its stake in Penumbra by 437.0% in the 1st quarter. JPMorgan Chase & Co. now owns 703,634 shares of the company's stock worth $188,159,000 after purchasing an additional 572,606 shares during the period. Lord Abbett & CO. LLC acquired a new position in Penumbra in the 1st quarter worth $63,731,000. Los Angeles Capital Management LLC boosted its stake in Penumbra by 487.1% in the 1st quarter. Los Angeles Capital Management LLC now owns 179,550 shares of the company's stock worth $48,013,000 after purchasing an additional 148,968 shares during the period. Nuveen LLC acquired a new position in Penumbra in the 1st quarter worth $33,696,000. Finally, Woodline Partners LP lifted its position in Penumbra by 476.1% during the 1st quarter. Woodline Partners LP now owns 145,881 shares of the company's stock worth $39,010,000 after buying an additional 120,558 shares in the last quarter. Institutional investors own 88.88% of the company's stock.

Insider Buying and Selling at Penumbra

In other Penumbra news, Director Arani Bose sold 12,000 shares of Penumbra stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $250.65, for a total value of $3,007,800.00. Following the completion of the sale, the director owned 558 shares in the company, valued at $139,862.70. The trade was a 95.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $270.58, for a total transaction of $162,348.00. Following the completion of the sale, the executive vice president owned 64,857 shares of the company's stock, valued at $17,549,007.06. This trade represents a 0.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 95,623 shares of company stock worth $23,741,200 in the last ninety days. Insiders own 4.20% of the company's stock.

Penumbra Stock Down 1.5%

Penumbra stock opened at $249.48 on Thursday. The firm has a market capitalization of $9.73 billion, a PE ratio of 66.35, a P/E/G ratio of 2.28 and a beta of 0.41. The company's 50-day moving average is $256.72 and its 200-day moving average is $263.26. Penumbra, Inc. has a fifty-two week low of $187.84 and a fifty-two week high of $310.00. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.75 and a quick ratio of 4.04.

Penumbra (NYSE:PEN - Get Free Report) last released its quarterly earnings data 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 company had revenue of $339.46 million for 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%. Penumbra's revenue for the quarter was up 13.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.64 EPS. Penumbra has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that Penumbra, Inc. will post 3.67 earnings per share for the current year.

Analysts Set New Price Targets

PEN has been the topic of several analyst reports. Morgan Stanley boosted their price target on shares of Penumbra from $260.00 to $266.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 31st. Royal Bank Of Canada lowered 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. Wells Fargo & Company set a $290.00 price target on Penumbra in a research report on Wednesday. Robert W. Baird boosted their price target on Penumbra from $283.00 to $285.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Finally, Evercore ISI assumed coverage on shares of Penumbra in a research note on Tuesday, September 2nd. They set an "outperform" rating and a $300.00 price objective on the stock. 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $302.93.

Penumbra 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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