J2 Capital Management Inc Invests $431,000 in Penumbra, Inc. $PEN

Key Points

• J2 Capital Management Inc invested $431,000 in Penumbra, Inc. by acquiring 1,679 shares in the second quarter, reflecting a growing interest in the company among institutional investors.
• Penumbra's CEO Adam Elsesser sold 15,800 shares worth over $4.26 million, decreasing his ownership by nearly 8%, while insider sales totaled approximately $23.74 million in the last three months.
• Penumbra's stock is currently down 1.5%, and it recently reported a quarterly EPS of $0.86, exceeding analysts' estimates and showing revenue growth of 13.4% year-over-year.

J2 Capital Management Inc purchased a new position in shares of Penumbra, Inc. (NYSE:PEN - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 1,679 shares of the company's stock, valued at approximately $431,000.

Several other large investors also recently modified their holdings of PEN. Wealth Enhancement Advisory Services LLC increased its stake in shares of Penumbra by 74.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 3,115 shares of the company's stock worth $740,000 after purchasing an additional 1,332 shares during the last quarter. Versant Capital Management Inc increased 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 worth $82,000 after purchasing an additional 277 shares during the last quarter. Merit Financial Group LLC purchased a new stake in shares of Penumbra during the 1st quarter worth approximately $207,000. UMB Bank n.a. increased its stake in shares of Penumbra by 110.4% during the 1st quarter. UMB Bank n.a. now owns 404 shares of the company's stock worth $108,000 after purchasing an additional 212 shares during the last quarter. Finally, Portside Wealth Group LLC increased its stake in shares of Penumbra by 10.1% during the 1st quarter. Portside Wealth Group LLC now owns 2,288 shares of the company's stock worth $612,000 after purchasing an additional 210 shares during the last quarter. Hedge funds and other institutional investors own 88.88% of the company's stock.

Insider Activity at Penumbra

In other news, CEO Adam Elsesser sold 15,800 shares of Penumbra stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $269.65, for a total transaction of $4,260,470.00. Following the completion of the sale, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Maggie Yuen sold 2,000 shares of Penumbra 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 sale, the chief financial officer directly owned 12,943 shares of the company's stock, valued at $3,235,750. This represents a 13.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 95,623 shares of company stock worth $23,741,200 in the last three months. 4.20% of the stock is owned by insiders.

Penumbra Stock Down 1.5%

PEN opened at $249.48 on Thursday. The company has a fifty day moving average price of $256.72 and a 200-day moving average price of $263.26. The firm has a market capitalization of $9.73 billion, a P/E ratio of 66.35, a price-to-earnings-growth ratio of 2.28 and a beta of 0.41. 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 one year low of $187.84 and a one year high of $310.00.

Penumbra (NYSE:PEN - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The company reported $0.86 EPS for the quarter, beating 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 business's revenue for the quarter was up 13.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.64 EPS. Penumbra has set its FY 2025 guidance at EPS. Equities research analysts expect that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on PEN shares. William Blair upgraded shares of Penumbra to a "strong-buy" rating in a research note on Friday, July 18th. Evercore ISI began coverage on shares of Penumbra in a research note on Tuesday, September 2nd. They issued an "outperform" rating and a $300.00 price objective for the company. Morgan Stanley lifted their price objective on shares of Penumbra from $260.00 to $266.00 and gave the company an "equal weight" rating in a research note on Thursday, July 31st. Royal Bank Of Canada reduced 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. Finally, Citigroup reduced their price objective on shares of Penumbra from $320.00 to $285.00 and set a "neutral" rating for the company in a research note on Wednesday, July 9th. One investment 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. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target 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.

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