Fortis Capital Advisors LLC Purchases New Shares in Penumbra, Inc. $PEN

Key Points

• Fortis Capital Advisors LLC purchased a new stake in Penumbra, Inc., acquiring 2,736 shares valued at approximately $732,000 in the first quarter.
• Insider selling was notable, with CFO Maggie Yuen selling 2,000 shares and CEO Adam Elsesser selling 15,800 shares, indicating a decrease in their stakes.
• Wall Street analysts have mixed opinions on Penumbra, with target prices ranging from $266 to $335, reflecting a consensus rating of "Moderate Buy" and a target price of $302.93.

Fortis Capital Advisors LLC purchased a new stake in shares of Penumbra, Inc. (NYSE:PEN - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 2,736 shares of the company's stock, valued at approximately $732,000.

A number of other large investors have also added to or reduced their stakes in PEN. Synergy Investment Management LLC acquired a new stake in Penumbra during the 1st quarter valued at $27,000. First Horizon Advisors Inc. boosted its stake in shares of 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 buying an additional 85 shares during the last quarter. AlphaQuest LLC purchased a new position in shares of Penumbra during the 1st quarter valued at approximately $66,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Penumbra during the 1st quarter valued at approximately $76,000. Finally, Versant Capital Management Inc boosted its stake in shares of 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 buying an additional 277 shares during the last quarter. 88.88% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Penumbra

In other Penumbra news, CFO Maggie Yuen sold 2,000 shares of the stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $250.00, for a total value of $500,000.00. Following the sale, the chief financial officer directly owned 12,943 shares of the company's stock, valued at $3,235,750. This trade represents a 13.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Adam Elsesser sold 15,800 shares of the stock in a transaction on Wednesday, September 3rd. The stock was 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 directly owned 182,460 shares of the company's stock, valued at approximately $49,200,339. The trade was a 7.97% decrease in their position. The disclosure for this sale can be found here. Insiders sold 112,163 shares of company stock valued at $27,932,335 over the last three months. 4.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on PEN. Morgan Stanley increased their target price on Penumbra from $260.00 to $266.00 and gave the company an "equal weight" rating in a research note on Thursday, July 31st. Wells Fargo & Company dropped their price target on Penumbra from $315.00 to $290.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 30th. Citigroup dropped 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. Royal Bank Of Canada dropped 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. Finally, UBS Group set a $335.00 price target on Penumbra and gave the company a "buy" rating in a research report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Penumbra currently has a consensus rating of "Moderate Buy" and a consensus target price of $302.93.

Penumbra Price Performance

Shares of NYSE PEN opened at $272.24 on Thursday. Penumbra, Inc. has a 1-year low of $184.80 and a 1-year 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. The business's fifty day moving average price is $251.09 and its two-hundred day moving average price is $265.25. The firm has a market capitalization of $10.62 billion, a PE ratio of 72.41, a P/E/G ratio of 2.59 and a beta of 0.45.

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 the consensus estimate of $0.81 by $0.05. Penumbra had a return on equity of 11.55% and a net margin of 11.54%.The firm had revenue of $339.46 million for the quarter, compared to analyst estimates of $327.37 million. During the same period last year, the company earned $0.64 earnings per share. The firm's revenue for the quarter was up 13.4% on a year-over-year basis. Penumbra has set its FY 2025 guidance at EPS. On average, research analysts expect that Penumbra, Inc. will post 3.67 EPS for the current year.

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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