Penumbra, Inc. $PEN Shares Sold by Voya Investment Management LLC

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 decreased its position in Penumbra, Inc. (NYSE:PEN - Free Report) by 7.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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 0.24% of Penumbra worth $25,323,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets raised its holdings in Penumbra by 59.3% during the fourth quarter. BNP Paribas Financial Markets now owns 6,523 shares of the company's stock worth $1,549,000 after purchasing an additional 2,429 shares in the last quarter. Captrust Financial Advisors acquired a new stake in Penumbra during the fourth quarter worth approximately $343,000. Gotham Asset Management LLC acquired a new stake in Penumbra during the fourth quarter worth approximately $275,000. Lazard Asset Management LLC raised its holdings in Penumbra by 38.0% during the fourth quarter. Lazard Asset Management LLC now owns 3,827 shares of the company's stock worth $908,000 after purchasing an additional 1,054 shares in the last quarter. Finally, Quantinno Capital Management LP raised its holdings in Penumbra by 497.3% during the fourth quarter. Quantinno Capital Management LP now owns 9,031 shares of the company's stock worth $2,145,000 after purchasing an additional 7,519 shares in the last quarter. Institutional investors and hedge funds own 88.88% of the company's stock.

Insider Activity

In related news, CFO Maggie Yuen sold 2,000 shares of Penumbra stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $250.00, for a total value of $500,000.00. Following the transaction, the chief financial officer directly owned 12,943 shares in the company, valued at $3,235,750. This trade represents a 13.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Adam Elsesser sold 16,150 shares of Penumbra stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $233.16, for a total transaction of $3,765,534.00. Following the completion of the transaction, the chief executive officer owned 146,258 shares in the company, valued at approximately $34,101,515.28. This trade represents a 9.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 112,113 shares of company stock valued at $27,919,346. Corporate insiders own 4.20% of the company's stock.

Penumbra Stock Performance

NYSE:PEN opened at $273.54 on Monday. The firm's fifty day moving average price is $252.08 and its 200 day moving average price is $264.82. Penumbra, Inc. has a 1-year low of $184.80 and a 1-year high of $310.00. 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 firm has a market cap of $10.67 billion, a price-to-earnings ratio of 72.75, a price-to-earnings-growth ratio of 2.46 and a beta of 0.45.

Penumbra (NYSE:PEN - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $0.86 earnings per share 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 firm had revenue of $339.46 million for the quarter, compared to analyst estimates of $327.37 million. During the same period last year, the firm posted $0.64 EPS. Penumbra's quarterly revenue was up 13.4% on a year-over-year basis. Penumbra has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that Penumbra, Inc. will post 3.67 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on PEN shares. 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. Canaccord Genuity Group set a $350.00 target price on shares of Penumbra and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Royal Bank Of Canada lowered their target price on shares of Penumbra from $330.00 to $325.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 30th. Truist Financial set a $310.00 target price on shares of Penumbra and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Finally, Robert W. Baird raised their target price on shares of Penumbra from $283.00 to $285.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $302.93.

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.

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