Fortis Capital Advisors LLC Acquires New Holdings 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 bought a new position in shares of 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 bought 2,736 shares of the company's stock, valued at approximately $732,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Synergy Investment Management LLC bought a new position in shares of Penumbra during the first quarter valued at approximately $27,000. First Horizon Advisors Inc. boosted its position 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 bought a new stake in Penumbra during the 1st quarter valued at $66,000. Caitong International Asset Management Co. Ltd bought a new stake in Penumbra during the 1st quarter valued at $76,000. Finally, Versant Capital Management Inc lifted its holdings 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 purchasing an additional 277 shares during the last quarter. 88.88% of the stock is currently owned by hedge funds and other institutional investors.

Penumbra Trading Down 0.9%

Shares of Penumbra stock traded down $2.31 during trading hours on Tuesday, hitting $260.81. The company's stock had a trading volume of 67,030 shares, compared to its average volume of 492,546. The business has a fifty day moving average of $252.39 and a 200 day moving average of $264.67. The company has a market capitalization of $10.17 billion, a PE ratio of 69.60, a P/E/G ratio of 2.46 and a beta of 0.45. Penumbra, Inc. has a 1-year low of $185.07 and a 1-year high of $310.00. The company has a quick ratio of 4.04, a current ratio of 6.75 and a debt-to-equity ratio of 0.02.

Penumbra (NYSE:PEN - Get Free Report) last released 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 business 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 business's revenue was up 13.4% on a year-over-year basis. During the same period last year, the business earned $0.64 EPS. Penumbra has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that Penumbra, Inc. will post 3.67 EPS for the current year.

Insider Buying and Selling at Penumbra

In other Penumbra news, Director Arani Bose sold 12,000 shares of the firm's stock in a transaction on 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 directly owned 558 shares of the company's stock, valued at $139,862.70. This trade represents a 95.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Maggie Yuen sold 2,000 shares of the firm's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $250.00, for a total transaction of $500,000.00. Following the transaction, the chief financial officer directly owned 12,943 shares of the company's stock, valued at approximately $3,235,750. This represents a 13.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 112,113 shares of company stock worth $27,919,346. 5.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on PEN shares. Canaccord Genuity Group set a $350.00 target price on Penumbra and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Wall Street Zen raised shares of Penumbra from a "hold" rating to a "buy" rating in a research note on Saturday, August 30th. Evercore ISI started coverage on shares of Penumbra in a research note on Tuesday, September 2nd. They issued an "outperform" rating and a $300.00 target price on the stock. Robert W. Baird lifted 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. Finally, Truist Financial set a $310.00 price target on shares of Penumbra and gave the company a "buy" rating in a research report on Wednesday, July 30th. One 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. According to MarketBeat.com, Penumbra currently has an average rating of "Moderate Buy" and an average target price of $302.93.

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.