Penumbra, Inc. $PEN Shares Bought by Cwm LLC

Key Points

• Cwm LLC increased its stake in Penumbra, Inc. by 41%, owning 5,742 shares worth approximately $1.47 million at the end of the most recent quarter.
• Penumbra reported quarterly earnings of $0.86 EPS, surpassing analyst expectations of $0.81, with revenue up 13.4% year-over-year.
• The consensus price target for Penumbra shares is $302.81, with most analysts rating the stock as a "Moderate Buy".

Cwm LLC raised its position in Penumbra, Inc. (NYSE:PEN - Free Report) by 41.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,742 shares of the company's stock after buying an additional 1,670 shares during the period. Cwm LLC's holdings in Penumbra were worth $1,474,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Synergy Investment Management LLC acquired a new stake in shares of Penumbra during the 1st quarter valued at about $27,000. First Horizon Advisors Inc. boosted its position in Penumbra by 404.8% during the first quarter. First Horizon Advisors Inc. now owns 106 shares of the company's stock worth $28,000 after purchasing an additional 85 shares in the last quarter. AlphaQuest LLC acquired a new stake in Penumbra in the first quarter valued at approximately $66,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Penumbra in the first quarter valued at approximately $76,000. Finally, Meeder Asset Management Inc. increased its position in shares of Penumbra by 1,966.7% in the first quarter. Meeder Asset Management Inc. now owns 372 shares of the company's stock valued at $99,000 after buying an additional 354 shares in the last quarter. 88.88% of the stock is owned by hedge funds and other institutional investors.

Penumbra Stock Down 0.3%

Shares of NYSE PEN opened at $248.22 on Tuesday. The company has a market capitalization of $9.68 billion, a P/E ratio of 66.02, a P/E/G ratio of 2.25 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. The company has a 50 day simple moving average of $260.65 and a 200-day simple moving average of $261.21. Penumbra, Inc. has a 1 year low of $199.01 and a 1 year high of $310.00.

Penumbra (NYSE:PEN - Get Free Report) last released its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $327.37 million. Penumbra had a return on equity of 11.55% and a net margin of 11.54%.The firm's quarterly revenue was up 13.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.64 earnings per share. Penumbra has set its FY 2025 guidance at EPS. On average, equities research analysts predict that Penumbra, Inc. will post 3.67 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Royal Bank Of Canada decreased their price objective on shares of Penumbra from $330.00 to $325.00 and set an "outperform" rating on the stock in a report on Wednesday, July 30th. Evercore ISI reduced their price target on shares of Penumbra from $300.00 to $285.00 and set an "outperform" rating for the company in a research report on Tuesday, October 7th. Wells Fargo & Company set a $290.00 price target on shares of Penumbra in a research note on Wednesday, October 1st. Robert W. Baird boosted their price objective on Penumbra from $283.00 to $285.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. Finally, Needham & Company LLC set a $326.00 target price on Penumbra and gave the company a "buy" rating in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $302.81.

Insider Buying and Selling at Penumbra

In related news, Director Thomas Wilder sold 372 shares of the business's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $240.16, for a total value of $89,339.52. Following the sale, the director directly owned 372 shares in the company, valued at approximately $89,339.52. The trade was a 50.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Arani Bose sold 12,000 shares of the company's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $250.65, for a total transaction of $3,007,800.00. Following the completion of the transaction, the director directly owned 558 shares in the company, valued at $139,862.70. The trade was a 95.56% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 80,610 shares of company stock worth $20,088,148. Insiders own 5.00% of the company's stock.

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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