Farther Finance Advisors LLC Acquires 1,817 Shares of Penumbra, Inc. $PEN

Key Points

• Farther Finance Advisors LLC increased its holdings in Penumbra, Inc. by 408.3%, acquiring an additional 1,817 shares during the second quarter, bringing its total ownership to 2,262 shares valued at $580,000.
• Penumbra reported $0.86 earnings per share for the last quarter, exceeding expectations of $0.81, with a 13.4% year-over-year revenue increase to $339.46 million.
• Wall Street analysts have given Penumbra a consensus rating of "Moderate Buy" with a target price of approximately $302.93, with several firms upgrading their ratings or adjusting price targets recently.

Farther Finance Advisors LLC raised its holdings in Penumbra, Inc. (NYSE:PEN - Free Report) by 408.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,262 shares of the company's stock after buying an additional 1,817 shares during the period. Farther Finance Advisors LLC's holdings in Penumbra were worth $580,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in PEN. Fifth Third Bancorp raised its holdings in shares of Penumbra by 16.4% in the first quarter. Fifth Third Bancorp now owns 404 shares of the company's stock valued at $108,000 after purchasing an additional 57 shares during the last quarter. First Horizon Advisors Inc. raised its holdings in shares of Penumbra by 404.8% in the first quarter. First Horizon Advisors Inc. now owns 106 shares of the company's stock valued at $28,000 after purchasing an additional 85 shares during the last quarter. Synergy Investment Management LLC purchased a new stake in shares of Penumbra in the first quarter valued at about $27,000. State of Michigan Retirement System raised its holdings in shares of Penumbra by 1.1% in the first quarter. State of Michigan Retirement System now owns 9,214 shares of the company's stock valued at $2,464,000 after purchasing an additional 100 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised its holdings in shares of Penumbra by 0.9% in the first quarter. Louisiana State Employees Retirement System now owns 10,800 shares of the company's stock valued at $2,888,000 after purchasing an additional 100 shares during the last quarter. 88.88% of the stock is owned by institutional investors.

Penumbra Price Performance

Shares of NYSE:PEN opened at $253.64 on Friday. The company has a quick ratio of 4.04, a current ratio of 6.75 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $9.89 billion, a PE ratio of 67.46, a P/E/G ratio of 2.25 and a beta of 0.45. Penumbra, Inc. has a twelve month low of $186.96 and a twelve month high of $310.00. The company has a 50-day moving average price of $255.51 and a two-hundred day moving average price of $263.58.

Penumbra (NYSE:PEN - Get Free Report) last issued 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 quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter last year, the business earned $0.64 earnings per share. Penumbra has set its FY 2025 guidance at EPS. Equities analysts forecast that Penumbra, Inc. will post 3.67 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PEN. William Blair upgraded shares of Penumbra to a "strong-buy" rating in a report on Friday, July 18th. UBS Group set a $335.00 target price on shares of Penumbra and gave the company a "buy" rating in a report on Wednesday, July 30th. Evercore ISI began coverage on shares of Penumbra in a report on Tuesday, September 2nd. They issued an "outperform" rating and a $300.00 target price for the company. Wall Street Zen downgraded shares of Penumbra from a "buy" rating to a "hold" rating in a report on Friday. Finally, Citigroup decreased their price objective on shares of Penumbra from $320.00 to $285.00 and set a "neutral" rating for the company in a report on Wednesday, July 9th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, Penumbra currently has a consensus rating of "Moderate Buy" and a consensus price target of $302.93.

Insider Buying and Selling at Penumbra

In other Penumbra news, Director Arani Bose sold 12,000 shares of the stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $250.65, for a total transaction of $3,007,800.00. Following the completion of the transaction, the director owned 558 shares in the company, valued at $139,862.70. This trade represents a 95.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Adam Elsesser sold 16,150 shares of the stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $233.16, for a total transaction of $3,765,534.00. Following the transaction, the chief executive officer owned 146,258 shares of the company's stock, valued at $34,101,515.28. This represents a 9.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 96,223 shares of company stock worth $23,892,820 over the last ninety days. Company insiders own 4.20% of the company's stock.

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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