AQR Capital Management LLC Sells 21,179 Shares of Penumbra, Inc. $PEN

AQR Capital Management LLC lessened its stake in Penumbra, Inc. (NYSE:PEN - Free Report) by 13.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 138,256 shares of the company's stock after selling 21,179 shares during the period. AQR Capital Management LLC owned about 0.36% of Penumbra worth $36,580,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Concurrent Investment Advisors LLC bought a new stake in shares of Penumbra in the 1st quarter valued at about $259,000. GAMMA Investing LLC boosted its position in shares of Penumbra by 59.0% during the 1st quarter. GAMMA Investing LLC now owns 709 shares of the company's stock valued at $190,000 after purchasing an additional 263 shares in the last quarter. Farther Finance Advisors LLC boosted its position in shares of Penumbra by 606.3% during the 1st quarter. Farther Finance Advisors LLC now owns 445 shares of the company's stock valued at $121,000 after purchasing an additional 382 shares in the last quarter. Gotham Asset Management LLC bought a new stake in shares of Penumbra during the 4th quarter valued at about $275,000. Finally, Cambridge Investment Research Advisors Inc. bought a new stake in shares of Penumbra during the 1st quarter valued at about $2,614,000. Institutional investors own 88.88% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on PEN. Evercore ISI began coverage on Penumbra in a research report on Tuesday, September 2nd. They set an "outperform" rating and a $300.00 target price on the stock. Wells Fargo & Company cut their target price on Penumbra from $315.00 to $290.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 30th. Royal Bank Of Canada cut their target price on Penumbra from $330.00 to $325.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 30th. Canaccord Genuity Group set a $350.00 price target on Penumbra and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Finally, Citigroup dropped their price target on Penumbra from $320.00 to $285.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 9th. One investment 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, Penumbra has an average rating of "Moderate Buy" and a consensus price target of $302.93.

Penumbra Stock Down 1.0%

Shares of Penumbra stock traded down $2.72 on Friday, hitting $273.68. The company had a trading volume of 101,997 shares, compared to its average volume of 493,604. The stock has a market capitalization of $10.67 billion, a price-to-earnings ratio of 72.79, a P/E/G ratio of 2.45 and a beta of 0.45. Penumbra, Inc. has a 1 year low of $184.80 and a 1 year high of $310.00. The stock has a 50 day moving average of $251.62 and a 200-day moving average of $265.17. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.04 and a current ratio of 6.75.

Penumbra (NYSE:PEN - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.81 by $0.05. The firm had revenue of $339.46 million during 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 company's quarterly revenue was up 13.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.64 earnings per share. Penumbra has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that Penumbra, Inc. will post 3.67 earnings per share for the current year.

Insider Transactions at Penumbra

In other news, CEO Adam Elsesser sold 15,800 shares of the company's stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $269.65, for a total value of $4,260,470.00. Following the completion of the transaction, the chief executive officer directly owned 182,460 shares of the company's stock, valued at $49,200,339. This represents a 7.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Arani Bose sold 12,000 shares of the company's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $250.65, for a total value of $3,007,800.00. Following the completion of the transaction, the director directly owned 558 shares of the company's stock, valued at approximately $139,862.70. This represents a 95.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 112,163 shares of company stock valued at $27,932,335. Corporate insiders own 4.20% of the company's stock.

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.