Penumbra, Inc. $PEN Holdings Lifted 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. lifted its stake in Penumbra, Inc. (NYSE:PEN - Free Report) by 3.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 51,116 shares of the company's stock after acquiring an additional 1,592 shares during the quarter. Invesco Ltd. owned approximately 0.13% of Penumbra worth $13,669,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Penumbra by 0.7% in the first quarter. Vanguard Group Inc. now owns 3,675,349 shares of the company's stock worth $982,825,000 after acquiring an additional 24,727 shares during the last quarter. RTW Investments LP increased its stake in shares of Penumbra by 8.4% in the fourth quarter. RTW Investments LP now owns 862,450 shares of the company's stock worth $204,815,000 after acquiring an additional 66,700 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Penumbra by 437.0% in the first quarter. JPMorgan Chase & Co. now owns 703,634 shares of the company's stock worth $188,159,000 after acquiring an additional 572,606 shares during the last quarter. Bank of America Corp DE increased its stake in shares of Penumbra by 19.9% in the fourth quarter. Bank of America Corp DE now owns 346,528 shares of the company's stock worth $82,293,000 after acquiring an additional 57,421 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Penumbra by 23.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 323,964 shares of the company's stock worth $76,937,000 after acquiring an additional 60,764 shares during the last quarter. 88.88% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Adam Elsesser sold 16,300 shares of the company's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $267.91, for a total transaction of $4,366,933.00. Following the completion of the transaction, the chief executive officer directly owned 98,289 shares in the company, valued at $26,332,605.99. This represents a 14.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Johanna Roberts sold 600 shares of the company's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $258.17, for a total transaction of $154,902.00. Following the transaction, the executive vice president owned 64,714 shares of the company's stock, valued at approximately $16,707,213.38. The trade was a 0.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 128,387 shares of company stock valued at $32,016,614. 4.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

PEN has been the topic of a number of research reports. Robert W. Baird upped their price target on shares of Penumbra from $283.00 to $285.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. Wall Street Zen cut shares of Penumbra from a "strong-buy" rating to a "hold" rating in a report on Saturday, August 2nd. Wells Fargo & Company decreased their price objective on shares of Penumbra from $315.00 to $290.00 and set an "overweight" rating for the company in a report on Wednesday, July 30th. UBS Group set a $335.00 price objective on shares of Penumbra and gave the stock a "buy" rating in a report on Wednesday, July 30th. Finally, William Blair upgraded shares of Penumbra to a "strong-buy" rating in a report on Friday, July 18th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Penumbra presently has an average rating of "Moderate Buy" and a consensus target price of $300.47.

Penumbra Stock Performance

NYSE:PEN opened at $264.6730 on Friday. Penumbra, Inc. has a 1 year low of $184.80 and a 1 year high of $310.00. The firm's fifty day simple moving average is $246.20 and its 200 day simple moving average is $265.26. 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 $10.32 billion, a PE ratio of 70.39, a PEG ratio of 2.26 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 (EPS) for the quarter, beating analysts' consensus estimates 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 period last year, the business posted $0.64 EPS. Penumbra's revenue was up 13.4% compared to the same quarter last year. Penumbra has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that Penumbra, Inc. will post 3.67 EPS for the current year.

Penumbra Company 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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