Voya Investment Management LLC Has $25.32 Million Stake in Penumbra, Inc. $PEN

Key Points

• Voya Investment Management LLC has decreased its stake in Penumbra, Inc. by 7.7%, owning 94,696 shares worth approximately $25.3 million after selling 7,895 shares during the first quarter.
• Penumbra's latest quarterly earnings report showed earnings per share (EPS) of $0.86, exceeding analyst estimates, and a revenue increase of 13.4% year-over-year.
• Analysts have mixed ratings for Penumbra, with a majority giving it a "buy" rating and varying target prices, including a high of $350.00 set by Canaccord Genuity Group.

Voya Investment Management LLC lessened its stake in shares of Penumbra, Inc. (NYSE:PEN - Free Report) by 7.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 94,696 shares of the company's stock after selling 7,895 shares during the quarter. Voya Investment Management LLC owned about 0.24% of Penumbra worth $25,323,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Synergy Investment Management LLC acquired a new position in shares of Penumbra during the 1st quarter worth about $27,000. First Horizon Advisors Inc. grew its position in Penumbra by 404.8% during the 1st quarter. First Horizon Advisors Inc. now owns 106 shares of the company's stock worth $28,000 after acquiring an additional 85 shares during the last quarter. AlphaQuest LLC bought a new stake in Penumbra during the 1st quarter worth approximately $66,000. Caitong International Asset Management Co. Ltd bought a new stake in Penumbra during the 1st quarter worth approximately $76,000. Finally, Versant Capital Management Inc grew its position in Penumbra by 893.5% during the 1st quarter. Versant Capital Management Inc now owns 308 shares of the company's stock worth $82,000 after acquiring an additional 277 shares during the last quarter. Institutional investors own 88.88% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on PEN shares. Citigroup decreased their price target on Penumbra from $320.00 to $285.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 9th. Truist Financial set a $310.00 price objective on Penumbra and gave the company a "buy" rating in a research report on Wednesday, July 30th. Evercore ISI started coverage on Penumbra in a research report on Tuesday, September 2nd. They issued an "outperform" rating and a $300.00 price objective on the stock. UBS Group set a $335.00 price objective on Penumbra and gave the company a "buy" rating in a research report on Wednesday, July 30th. Finally, William Blair upgraded Penumbra to a "strong-buy" rating in a report on Friday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $302.93.

Penumbra Stock Down 0.7%

Shares of NYSE:PEN traded down $1.85 during midday trading on Friday, reaching $255.90. The company had a trading volume of 947,229 shares, compared to its average volume of 464,140. The business's 50 day moving average price is $253.59 and its 200 day moving average price is $264.21. The stock has a market cap of $9.98 billion, a PE ratio of 68.06, a P/E/G ratio of 2.32 and a beta of 0.45. The company has a quick ratio of 4.04, a current ratio of 6.75 and a debt-to-equity ratio of 0.02. Penumbra, Inc. has a 1-year low of $185.13 and a 1-year high of $310.00.

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

Insiders Place Their Bets

In other Penumbra news, CFO Maggie Yuen sold 2,000 shares of the business's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $250.00, for a total transaction of $500,000.00. Following the transaction, the chief financial officer owned 12,943 shares of the company's stock, valued at $3,235,750. The trade was a 13.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Johanna Roberts sold 600 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $252.70, for a total value of $151,620.00. Following the transaction, the executive vice president directly owned 66,057 shares in the company, valued at approximately $16,692,603.90. This trade represents a 0.90% decrease in their position. The disclosure for this sale can be found here. Insiders sold 112,113 shares of company stock worth $27,919,346 in the last three months. 4.20% of the stock is owned by corporate insiders.

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.