Diversified Trust Co Purchases 2,089 Shares of Penumbra, Inc. $PEN

Key Points

• Diversified Trust Co increased its stake in Penumbra, Inc. by 33.3% in the second quarter, acquiring an additional 2,089 shares to reach a total of 8,365 shares valued at approximately $2,147,000.
• Insider selling activity included Johanna Roberts, EVP, selling 600 shares for $151,620, and CEO Adam Elsesser selling 16,150 shares valued at approximately $3.77 million, signaling a notable decrease in ownership.
• Penumbra's stock is currently rated as a Moderate Buy by analysts, with a consensus price target of $302.93, indicating potential upside from its current trading price of $255.90.

Diversified Trust Co grew its position in Penumbra, Inc. (NYSE:PEN - Free Report) by 33.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,365 shares of the company's stock after purchasing an additional 2,089 shares during the quarter. Diversified Trust Co's holdings in Penumbra were worth $2,147,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of PEN. Rafferty Asset Management LLC bought a new stake in Penumbra in the 4th quarter valued at about $208,000. Squarepoint Ops LLC boosted its position in Penumbra by 9.0% during the fourth quarter. Squarepoint Ops LLC now owns 3,596 shares of the company's stock valued at $854,000 after buying an additional 296 shares during the period. Vident Advisory LLC purchased a new stake in shares of Penumbra during the fourth quarter worth about $212,000. Woodline Partners LP lifted its holdings in Penumbra by 396.0% in the fourth quarter. Woodline Partners LP now owns 25,323 shares of the company's stock worth $6,014,000 after buying an additional 20,218 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Penumbra by 14.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 111,500 shares of the company's stock valued at $26,479,000 after purchasing an additional 13,929 shares in the last quarter. 88.88% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on PEN. Evercore ISI started coverage on shares of Penumbra in a research note on Tuesday, September 2nd. They set an "outperform" rating and a $300.00 target price on the stock. Royal Bank Of Canada decreased their target price on shares of Penumbra from $330.00 to $325.00 and set an "outperform" rating for the company in a research report on Wednesday, July 30th. Citigroup lowered their price target on shares of Penumbra from $320.00 to $285.00 and set a "neutral" rating on the stock in a report on Wednesday, July 9th. Wells Fargo & Company reduced their target price on shares of Penumbra from $315.00 to $290.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 30th. Finally, Wall Street Zen upgraded 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 assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $302.93.

Penumbra Stock Performance

Shares of Penumbra stock traded up $3.39 during trading on Tuesday, hitting $257.05. 98,844 shares of the stock were exchanged, compared to its average volume of 493,721. The stock has a market cap of $10.02 billion, a PE ratio of 68.40, a P/E/G ratio of 2.30 and a beta of 0.45. The stock's fifty day moving average is $253.91 and its 200 day moving average is $263.83. Penumbra, Inc. has a 12 month low of $185.13 and a 12 month high of $310.00. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.04 and a current ratio of 6.75.

Penumbra (NYSE:PEN - Get Free Report) last posted 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 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 company's quarterly revenue was up 13.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.64 earnings per share. Penumbra has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that Penumbra, Inc. will post 3.67 EPS for the current year.

Insider Activity at Penumbra

In other Penumbra news, Director Harpreet Grewal sold 186 shares of the company's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $272.19, for a total transaction of $50,627.34. Following the completion of the sale, the director directly owned 8,888 shares of the company's stock, valued at approximately $2,419,224.72. This represents a 2.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Adam Elsesser sold 15,800 shares of the company's stock in a transaction dated 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 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 112,113 shares of company stock valued at $27,919,346. Corporate insiders own 5.00% of the company's stock.

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.