Penumbra, Inc. $PEN Shares Purchased by Ieq Capital LLC

Key Points

• Ieq Capital LLC increased its holdings in Penumbra, Inc. by 17.3% during the first quarter, acquiring an additional 1,324 shares to bring its total to 8,966 shares worth approximately $2.4 million.
• Penumbra's CEO sold 15,900 shares for over $4 million, marking an 8.54% decrease in their ownership, while company insiders sold a total of 111,487 shares valued at nearly $27.5 million in the last three months.
• The company reported $339.46 million in revenue for the last quarter, exceeding analyst estimates and achieving a year-over-year revenue growth of 13.4%.

Ieq Capital LLC boosted its position in shares of Penumbra, Inc. (NYSE:PEN - Free Report) by 17.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,966 shares of the company's stock after buying an additional 1,324 shares during the period. Ieq Capital LLC's holdings in Penumbra were worth $2,398,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in PEN. JPMorgan Chase & Co. boosted its stake in Penumbra by 437.0% during the 1st quarter. JPMorgan Chase & Co. now owns 703,634 shares of the company's stock worth $188,159,000 after purchasing an additional 572,606 shares during the period. Lord Abbett & CO. LLC purchased a new position in shares of Penumbra in the 1st quarter valued at approximately $63,731,000. GAMMA Investing LLC grew its stake in shares of Penumbra by 42,409.9% in the 1st quarter. GAMMA Investing LLC now owns 189,594 shares of the company's stock valued at $50,699,000 after purchasing an additional 189,148 shares during the last quarter. Los Angeles Capital Management LLC grew its stake in shares of Penumbra by 487.1% in the 1st quarter. Los Angeles Capital Management LLC now owns 179,550 shares of the company's stock valued at $48,013,000 after purchasing an additional 148,968 shares during the last quarter. Finally, Nuveen LLC purchased a new position in shares of Penumbra in the 1st quarter valued at approximately $33,696,000. Institutional investors and hedge funds own 88.88% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Wells Fargo & Company lowered their target price on Penumbra from $315.00 to $290.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 30th. UBS Group set a $335.00 target price on Penumbra and gave the company a "buy" rating in a research note on Wednesday, July 30th. Truist Financial set a $310.00 target price on Penumbra and gave the company a "buy" rating in a research note on Wednesday, July 30th. Robert W. Baird lifted their target price on Penumbra from $283.00 to $285.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Finally, William Blair upgraded Penumbra to a "strong-buy" rating in a research note on Friday, July 18th. 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. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $302.93.

Insiders Place Their Bets

In other news, CFO Maggie Yuen sold 2,000 shares of the company's 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 in the company, valued at $3,235,750. This represents a 13.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Harpreet Grewal sold 186 shares of the company's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $272.19, for a total value of $50,627.34. Following the completion of the sale, the director owned 8,888 shares in the company, valued at $2,419,224.72. This represents a 2.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 128,073 shares of company stock valued at $31,968,224. Insiders own 4.20% of the company's stock.

Penumbra Price Performance

PEN stock traded up $1.81 during midday trading on Friday, hitting $281.53. 438,756 shares of the stock were exchanged, compared to its average volume of 494,358. The stock's 50-day moving average price is $248.82 and its 200-day moving average price is $265.55. The stock has a market cap of $10.98 billion, a price-to-earnings ratio of 74.93, a PEG ratio of 2.43 and a beta of 0.45. Penumbra, Inc. has a fifty-two week low of $184.80 and a fifty-two week high of $310.00. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.04 and a current ratio of 6.75.

Penumbra (NYSE:PEN - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $0.86 earnings per share (EPS) 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 during the quarter, compared to analysts' expectations of $327.37 million. During the same period in the previous year, the firm posted $0.64 earnings per share. Penumbra's revenue was up 13.4% on a year-over-year basis. Penumbra has set its FY 2025 guidance at EPS. Research analysts predict that Penumbra, Inc. will post 3.67 earnings per share for the current year.

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.