Penumbra, Inc. $PEN Shares Purchased by EFG Asset Management North America Corp.

Key Points

• EFG Asset Management North America Corp. increased its stake in Penumbra, Inc. by 24.6%, now owning 18,519 shares valued at approximately $4.95 million.
• Penumbra's stock received multiple rating upgrades from analysts, with William Blair giving it a "strong-buy" rating, while the current consensus rating stands at "Moderate Buy" with an average price target of $302.93.
• Insider trading activity includes substantial sales from both Director Arani Bose and CEO Adam Elsesser, collectively amounting to over $6.77 million in stock sold.

EFG Asset Management North America Corp. increased its holdings in shares of Penumbra, Inc. (NYSE:PEN - Free Report) by 24.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 18,519 shares of the company's stock after acquiring an additional 3,659 shares during the period. Penumbra makes up about 0.8% of EFG Asset Management North America Corp.'s portfolio, making the stock its 28th largest holding. EFG Asset Management North America Corp.'s holdings in Penumbra were worth $4,953,000 at the end of the most recent quarter.

Other institutional investors have also recently 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. grew its position in shares of Penumbra by 404.8% during the 1st quarter. First Horizon Advisors Inc. now owns 106 shares of the company's stock valued at $28,000 after acquiring an additional 85 shares during the period. AlphaQuest LLC acquired a new stake in shares of Penumbra during the 1st quarter valued at about $66,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Penumbra during the 1st quarter valued at about $76,000. Finally, Versant Capital Management Inc grew its position in shares of Penumbra by 893.5% during the 1st quarter. Versant Capital Management Inc now owns 308 shares of the company's stock valued at $82,000 after acquiring an additional 277 shares during the period. 88.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Harpreet Grewal sold 186 shares of Penumbra stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $272.19, for a total transaction of $50,627.34. Following the sale, the director owned 8,888 shares of the company's stock, valued at approximately $2,419,224.72. The trade was a 2.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Maggie Yuen sold 2,000 shares of Penumbra stock in a transaction that occurred on Wednesday, August 13th. The shares were 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 in the company, valued at approximately $3,235,750. The trade was a 13.38% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 128,073 shares of company stock worth $31,968,224. 5.00% of the stock is owned by company insiders.

Penumbra Price Performance

PEN traded up $3.69 during trading on Monday, reaching $285.15. The company's stock had a trading volume of 758,758 shares, compared to its average volume of 496,776. The company has a quick ratio of 4.04, a current ratio of 6.75 and a debt-to-equity ratio of 0.02. The firm has a fifty day simple moving average of $249.33 and a two-hundred day simple moving average of $265.10. Penumbra, Inc. has a 1 year low of $184.80 and a 1 year high of $310.00. The company has a market cap of $11.12 billion, a price-to-earnings ratio of 75.84, a PEG ratio of 2.53 and a beta of 0.45.

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 the consensus estimate of $0.81 by $0.05. The firm had revenue of $339.46 million for 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% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.64 EPS. Penumbra has set its FY 2025 guidance at EPS. As a group, analysts anticipate that Penumbra, Inc. will post 3.67 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Robert W. Baird raised their target price on Penumbra from $283.00 to $285.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Evercore ISI initiated coverage on shares of Penumbra in a research note on Tuesday, September 2nd. They issued an "outperform" rating and a $300.00 price target on the stock. Wells Fargo & Company decreased their price target on shares of Penumbra from $315.00 to $290.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 30th. Royal Bank Of Canada decreased their price target on shares of Penumbra from $330.00 to $325.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 30th. Finally, Canaccord Genuity Group set a $350.00 price target on shares of Penumbra and gave the company a "buy" rating in a research note on Wednesday, July 30th. One 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's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $302.93.

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.