Penumbra, Inc. $PEN Shares Purchased by Invesco Ltd.

Key Points

• Invesco Ltd. increased its stake in Penumbra, Inc. by 3.2%, now owning approximately 0.13% of the company, valued at $13.67 million.
• Various hedge funds, including Vanguard and JPMorgan Chase, also raised their stakes significantly in Penumbra, indicating strong institutional interest.
• Penumbra reported better-than-expected earnings of $0.86 per share for the last quarter, surpassing analyst estimates and showing a 13.4% increase in revenue compared to the previous year.

Invesco Ltd. increased its holdings in shares of Penumbra, Inc. (NYSE:PEN - Free Report) by 3.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 51,116 shares of the company's stock after purchasing an additional 1,592 shares during the quarter. Invesco Ltd. owned approximately 0.13% of Penumbra worth $13,669,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its position in Penumbra by 437.0% during the first quarter. JPMorgan Chase & Co. now owns 703,634 shares of the company's stock worth $188,159,000 after buying an additional 572,606 shares during the period. GAMMA Investing LLC increased its position in Penumbra by 42,409.9% during the first quarter. GAMMA Investing LLC now owns 189,594 shares of the company's stock worth $50,699,000 after buying an additional 189,148 shares during the period. Los Angeles Capital Management LLC increased its position in Penumbra by 487.1% during the first quarter. Los Angeles Capital Management LLC now owns 179,550 shares of the company's stock worth $48,013,000 after buying an additional 148,968 shares during the period. Adage Capital Partners GP L.L.C. acquired a new position in Penumbra during the fourth quarter worth approximately $23,866,000. Finally, Baird Financial Group Inc. increased its position in Penumbra by 43.9% during the fourth quarter. Baird Financial Group Inc. now owns 280,198 shares of the company's stock worth $66,541,000 after buying an additional 85,542 shares during the period. Hedge funds and other institutional investors own 88.88% of the company's stock.

Penumbra Stock Performance

Shares of NYSE:PEN traded up $4.48 during trading on Thursday, reaching $271.41. The company had a trading volume of 485,682 shares, compared to its average volume of 463,487. The firm has a market capitalization of $10.59 billion, a price-to-earnings ratio of 72.18, a price-to-earnings-growth ratio of 2.40 and a beta of 0.40. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.75 and a quick ratio of 4.04. The stock's fifty day moving average price is $246.99 and its 200 day moving average price is $265.41. Penumbra, Inc. has a fifty-two week low of $184.80 and a fifty-two week high of $310.00.

Penumbra (NYSE:PEN - Get Free Report) last released its earnings results on Tuesday, July 29th. The company reported $0.86 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $327.37 million. During the same quarter in the previous year, the company posted $0.64 earnings per share. The company's revenue for the quarter was up 13.4% compared to the same quarter last year. Penumbra has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that Penumbra, Inc. will post 3.67 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. UBS Group set a $335.00 price target on Penumbra and gave the stock a "buy" rating in a research report on Wednesday, July 30th. William Blair raised Penumbra to a "strong-buy" rating in a research report on Friday, July 18th. Wall Street Zen lowered Penumbra from a "strong-buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Canaccord Genuity Group set a $350.00 price target on Penumbra and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Finally, Robert W. Baird boosted their target price on Penumbra from $283.00 to $285.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Two investment analysts have 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 data from MarketBeat, Penumbra has an average rating of "Moderate Buy" and a consensus target price of $300.47.

Insider Transactions at Penumbra

In related news, Director Arani Bose sold 12,000 shares of Penumbra stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $250.65, for a total value of $3,007,800.00. Following the sale, the director directly owned 558 shares in the company, valued at $139,862.70. The trade was a 95.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas Wilder sold 372 shares of Penumbra stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $240.16, for a total value of $89,339.52. Following the completion of the sale, the director owned 372 shares in the company, valued at approximately $89,339.52. This trade represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 112,087 shares of company stock valued at $27,649,681. 4.20% of the stock is owned by company insiders.

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.