Informed Momentum Co LLC Makes New $3.99 Million Investment in Penumbra, Inc. (NYSE:PEN)

Key Points

• Informed Momentum Co LLC has made a new investment in Penumbra, Inc., purchasing approximately 14,912 shares valued at around $3.99 million.
• Analysts have differing opinions on Penumbra's stock, with a downgrade from a "strong-buy" to a "hold" by Wall Street Zen, while other analysts set price targets ranging from $285.00 to $350.00.
• Penumbra reported a positive quarterly earnings result with an EPS of $0.86, exceeding expectations and achieving a revenue of $339.46 million, marking a 13.4% increase compared to the same quarter last year.

Informed Momentum Co LLC acquired a new position in shares of Penumbra, Inc. (NYSE:PEN - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 14,912 shares of the company's stock, valued at approximately $3,988,000.

Other large investors have also modified their holdings of the company. Synergy Investment Management LLC acquired a new position in Penumbra during the 1st quarter valued at $27,000. First Horizon Advisors Inc. raised its stake 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 purchasing an additional 85 shares during the last quarter. Versant Capital Management Inc raised its stake in 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. Meeder Asset Management Inc. raised its stake in Penumbra by 1,966.7% during the 1st quarter. Meeder Asset Management Inc. now owns 372 shares of the company's stock valued at $99,000 after purchasing an additional 354 shares during the last quarter. Finally, UMB Bank n.a. raised its stake in Penumbra by 110.4% during the 1st quarter. UMB Bank n.a. now owns 404 shares of the company's stock valued at $108,000 after purchasing an additional 212 shares during the last quarter. 88.88% of the stock is owned by institutional investors.

Insider Transactions at Penumbra

In other news, CEO Adam Elsesser sold 16,030 shares of the company's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $238.20, for a total value of $3,818,346.00. Following the sale, the chief executive officer owned 158,204 shares of the company's stock, valued at approximately $37,684,192.80. This represents a 9.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Johanna Roberts sold 600 shares of the stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $238.94, for a total transaction of $143,364.00. Following the sale, the executive vice president directly owned 65,457 shares in the company, valued at approximately $15,640,295.58. This represents a 0.91% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 98,487 shares of company stock valued at $24,461,787. 4.20% of the stock is owned by insiders.

Penumbra Price Performance

Shares of PEN traded down $4.19 during trading hours on Thursday, hitting $253.19. The stock had a trading volume of 332,526 shares, compared to its average volume of 498,981. The company's fifty day moving average is $246.16 and its two-hundred day moving average is $265.74. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.75 and a quick ratio of 4.04. Penumbra, Inc. has a 52 week low of $184.19 and a 52 week high of $310.00. The stock has a market capitalization of $9.87 billion, a price-to-earnings ratio of 67.34, a P/E/G ratio of 2.24 and a beta of 0.40.

Penumbra (NYSE:PEN - Get Free Report) last posted 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 net margin of 11.54% and a return on equity of 11.55%. The business had revenue of $339.46 million for the quarter, compared to analyst estimates of $327.37 million. During the same quarter in the prior year, the firm earned $0.64 EPS. The firm's quarterly revenue was up 13.4% compared to the same quarter last year. On average, analysts anticipate that Penumbra, Inc. will post 3.67 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PEN. UBS Group set a $335.00 target price on shares of Penumbra and gave the company a "buy" rating in a research note on Wednesday, July 30th. William Blair upgraded shares of Penumbra to a "strong-buy" rating in a research note on Friday, July 18th. Wall Street Zen cut shares of Penumbra from a "strong-buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Canaccord Genuity Group set a $350.00 price objective on shares of Penumbra and gave the company a "buy" rating in a research note on Wednesday, July 30th. Finally, Royal Bank Of Canada dropped their price objective on shares of Penumbra from $330.00 to $325.00 and set an "outperform" rating for the company in a research note on Wednesday, July 30th. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Penumbra currently has an average rating of "Moderate Buy" and a consensus target price of $300.47.

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.