Entropy Technologies LP Buys New Shares in Penumbra, Inc. (NYSE:PEN)

Key Points

• Entropy Technologies LP invested approximately $455,000 to acquire 1,700 shares of Penumbra, Inc. during the first quarter, according to their recent SEC filing.
• Penumbra reported earnings of $0.86 per share for the last quarter, exceeding analysts' estimates of $0.81, alongside a revenue of $339.46 million.
• As of the latest data, Penumbra has a market capitalization of $10.05 billion and is primarily owned by institutional investors and hedge funds, accounting for 88.88% of the stock.

Entropy Technologies LP bought a new stake in Penumbra, Inc. (NYSE:PEN - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,700 shares of the company's stock, valued at approximately $455,000.

Several other hedge funds have also recently made changes to their positions in PEN. Envestnet Asset Management Inc. increased its position in shares of Penumbra by 3.5% in the 4th quarter. Envestnet Asset Management Inc. now owns 60,485 shares of the company's stock valued at $14,364,000 after acquiring an additional 2,033 shares during the period. Cerity Partners LLC grew its position in Penumbra by 66.1% during the 4th quarter. Cerity Partners LLC now owns 5,999 shares of the company's stock worth $1,400,000 after purchasing an additional 2,387 shares during the period. Raymond James Financial Inc. acquired a new stake in Penumbra during the 4th quarter worth about $5,976,000. Treasurer of the State of North Carolina grew its position in Penumbra by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 16,213 shares of the company's stock worth $3,850,000 after purchasing an additional 100 shares during the period. Finally, Barclays PLC grew its position in Penumbra by 65.3% during the 4th quarter. Barclays PLC now owns 29,796 shares of the company's stock worth $7,076,000 after purchasing an additional 11,771 shares during the period. 88.88% of the stock is owned by institutional investors and hedge funds.

Penumbra Trading Up 3.7%

Shares of Penumbra stock opened at $257.67 on Thursday. The firm has a market capitalization of $10.05 billion, a PE ratio of 68.53, a P/E/G ratio of 2.24 and a beta of 0.40. Penumbra, Inc. has a twelve month low of $181.13 and a twelve month high of $310.00. The firm's 50-day moving average price is $246.26 and its 200 day moving average price is $265.87. 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 (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. The firm 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 quarterly revenue was up 13.4% compared to the same quarter last year. During the same period last year, the company posted $0.64 EPS. On average, sell-side analysts predict that Penumbra, Inc. will post 3.67 EPS for the current fiscal year.

Insider Activity at Penumbra

In related news, CEO Adam Elsesser sold 16,300 shares of the firm'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 transaction, the chief executive officer directly owned 98,289 shares of the company's stock, valued at approximately $26,332,605.99. This trade represents a 14.22% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Thomas Wilder sold 372 shares of the firm's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $240.16, for a total transaction of $89,339.52. Following the completion of the transaction, the director directly owned 372 shares in the company, valued at $89,339.52. This represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 98,487 shares of company stock valued at $24,461,787. 4.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on PEN shares. William Blair raised Penumbra to a "strong-buy" rating in a research report on Friday, July 18th. Royal Bank Of Canada cut 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. Robert W. Baird increased 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. Citigroup cut their price target on Penumbra from $320.00 to $285.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 9th. Finally, Canaccord Genuity Group set a $350.00 price target on Penumbra and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Penumbra currently has a consensus rating of "Moderate Buy" and a consensus price target of $300.47.

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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