Next Century Growth Investors LLC Takes $11.12 Million Position in Penumbra, Inc. $PEN

Key Points

• Next Century Growth Investors LLC has invested approximately $11.12 million in Penumbra, acquiring 41,579 shares during the first quarter, equating to about 0.11% ownership in the company.
• Recent earnings reports showed Penumbra's revenue to be $339.46 million for the quarter, exceeding estimates, with a notable year-over-year revenue growth of 13.4%.
• Institutional investors now own 88.88% of Penumbra's stock, reflecting strong confidence from major investment firms like Vanguard and JPMorgan, which significantly increased their holdings recently.

Next Century Growth Investors LLC bought a new position in shares of Penumbra, Inc. (NYSE:PEN - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 41,579 shares of the company's stock, valued at approximately $11,119,000. Next Century Growth Investors LLC owned approximately 0.11% of Penumbra as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Synergy Investment Management LLC purchased a new stake in shares of Penumbra during the 1st quarter worth about $27,000. First Horizon Advisors Inc. grew its stake in shares of Penumbra by 404.8% in the first quarter. First Horizon Advisors Inc. now owns 106 shares of the company's stock valued at $28,000 after buying an additional 85 shares in the last quarter. AlphaQuest LLC acquired a new stake in shares of Penumbra in the first quarter valued at about $66,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Penumbra in the first quarter valued at about $76,000. Finally, Versant Capital Management Inc grew its stake in shares of Penumbra by 893.5% in the first quarter. Versant Capital Management Inc now owns 308 shares of the company's stock valued at $82,000 after buying an additional 277 shares in the last quarter. 88.88% of the stock is currently owned by hedge funds and other institutional investors.

Penumbra Stock Performance

PEN traded up $1.28 on Monday, hitting $272.96. 395,485 shares of the stock traded hands, compared to its average volume of 418,876. Penumbra, Inc. has a 52 week low of $184.80 and a 52 week high of $310.00. The company has a current ratio of 6.75, a quick ratio of 4.04 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $10.65 billion, a PE ratio of 72.60, a P/E/G ratio of 2.45 and a beta of 0.45. The business has a fifty day moving average price of $247.32 and a two-hundred day moving average price of $265.37.

Penumbra (NYSE:PEN - Get Free Report) last issued its earnings results on Tuesday, July 29th. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.81 by $0.05. Penumbra had a return on equity of 11.55% and a net margin of 11.54%.The business had revenue of $339.46 million during the quarter, compared to analysts' expectations of $327.37 million. During the same period in the prior year, the firm posted $0.64 EPS. Penumbra's quarterly revenue was up 13.4% compared to the same quarter last year. Penumbra has set its FY 2025 guidance at EPS. On average, research analysts predict that Penumbra, Inc. will post 3.67 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $238.94, for a total value of $143,364.00. Following the completion of the sale, the executive vice president directly owned 65,457 shares in the company, valued at $15,640,295.58. This trade represents a 0.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Adam Elsesser sold 15,900 shares of Penumbra stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $254.53, for a total value of $4,047,027.00. Following the completion of the sale, the chief executive officer owned 170,280 shares of the company's stock, valued at approximately $43,341,368.40. The trade was a 8.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 111,487 shares of company stock valued at $27,494,779 in the last 90 days. 5.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have commented on PEN. Truist Financial set a $310.00 target price on Penumbra and gave the stock a "buy" rating in a report on Wednesday, July 30th. William Blair upgraded Penumbra to a "strong-buy" rating in a research report on Friday, July 18th. Wall Street Zen upgraded Penumbra from a "hold" rating to a "buy" rating in a research report on Saturday. Wells Fargo & Company decreased their target price on Penumbra from $315.00 to $290.00 and set an "overweight" rating on the stock in a report on Wednesday, July 30th. Finally, Robert W. Baird raised their target price on Penumbra from $283.00 to $285.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target 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.