Driehaus Capital Management LLC Invests $20.40 Million in Penumbra, Inc. $PEN

Key Points

• Driehaus Capital Management LLC acquired a new stake in Penumbra, Inc. by purchasing 76,278 shares valued at approximately $20.4 million, representing about 0.20% of the company's total shares.
• Penumbra's stock experienced a price of $272.96 and had a twelve-month range between $184.80 and $310.00, with a market capitalization of $10.65 billion.
• The company reported strong earnings, with $0.86 earnings per share for the last quarter, exceeding estimates and showing a 13.4% revenue increase year-over-year.

Driehaus Capital Management LLC acquired a new stake in Penumbra, Inc. (NYSE:PEN - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 76,278 shares of the company's stock, valued at approximately $20,398,000. Driehaus Capital Management LLC owned 0.20% of Penumbra as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Synergy Investment Management LLC acquired a new stake in shares of Penumbra in the first quarter valued at about $27,000. First Horizon Advisors Inc. increased its holdings 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. AlphaQuest LLC purchased a new position in Penumbra during the 1st quarter valued at about $66,000. Caitong International Asset Management Co. Ltd purchased a new position in Penumbra during the 1st quarter valued at about $76,000. Finally, Versant Capital Management Inc increased its holdings 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. Institutional investors and hedge funds own 88.88% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PEN. Truist Financial set a $310.00 price target on shares of Penumbra and gave the stock a "buy" rating in a report on Wednesday, July 30th. Evercore ISI began coverage on shares of Penumbra in a report on Tuesday. They set an "outperform" rating and a $300.00 price target for the company. Royal Bank Of Canada lowered their target price on shares of Penumbra from $330.00 to $325.00 and set an "outperform" rating for the company in a report on Wednesday, July 30th. Canaccord Genuity Group set a $350.00 target price on shares of Penumbra and gave the company a "buy" rating in a report on Wednesday, July 30th. Finally, Robert W. Baird boosted their target price on shares of Penumbra from $283.00 to $285.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $302.93.

Penumbra Stock Up 3.3%

PEN traded up $8.84 during trading on Thursday, hitting $278.55. The company had a trading volume of 241,853 shares, compared to its average volume of 492,566. The company has a market cap of $10.86 billion, a PE ratio of 74.02, a P/E/G ratio of 2.45 and a beta of 0.45. The business has a 50-day moving average of $248.30 and a 200-day moving average of $265.47. 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, Inc. has a 1-year low of $184.80 and a 1-year 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 (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.05. The firm had revenue of $339.46 million for the quarter, compared to analysts' expectations of $327.37 million. Penumbra had a net margin of 11.54% and a return on equity of 11.55%. The firm's quarterly revenue was up 13.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.64 earnings per share. Penumbra has set its FY 2025 guidance at EPS. As a group, analysts forecast that Penumbra, Inc. will post 3.67 earnings per share for the current year.

Insider Transactions at Penumbra

In other Penumbra news, EVP Johanna Roberts sold 600 shares of the business's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $238.94, for a total transaction of $143,364.00. Following the completion of the sale, the executive vice president owned 65,457 shares in the company, valued at $15,640,295.58. The trade was a 0.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Maggie Yuen sold 2,000 shares of the business's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $250.00, for a total transaction of $500,000.00. Following the sale, the chief financial officer owned 12,943 shares of the company's stock, valued at approximately $3,235,750. The trade was a 13.38% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 111,487 shares of company stock valued at $27,494,779 over the last ninety days. 5.00% of the stock is currently owned by corporate insiders.

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.