Penumbra, Inc. $PEN Shares Sold by AQR Capital Management LLC

AQR Capital Management LLC reduced its position in shares of Penumbra, Inc. (NYSE:PEN - Free Report) by 13.3% in the 1st quarter, according to the company in its most recent 13F 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 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. PDT Partners LLC increased its stake in Penumbra by 30.8% in the first quarter. PDT Partners LLC now owns 15,076 shares of the company's stock valued at $4,031,000 after purchasing an additional 3,546 shares during the last quarter. Royal Bank of Canada grew its position in shares of Penumbra by 35.8% in the 1st quarter. Royal Bank of Canada now owns 19,332 shares of the company's stock valued at $5,169,000 after buying an additional 5,092 shares during the last quarter. Vident Advisory LLC raised its stake in Penumbra by 235.3% during the 1st quarter. Vident Advisory LLC now owns 2,994 shares of the company's stock worth $801,000 after acquiring an additional 2,101 shares in the last quarter. Evergreen Capital Management LLC lifted its position in Penumbra by 13.1% in the first quarter. Evergreen Capital Management LLC now owns 1,065 shares of the company's stock valued at $285,000 after acquiring an additional 123 shares during the last quarter. Finally, Driehaus Capital Management LLC acquired a new position in Penumbra in the first quarter valued at $20,398,000. Hedge funds and other institutional investors own 88.88% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Robert W. Baird boosted their target price on Penumbra from $283.00 to $285.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Citigroup cut 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. Morgan Stanley increased their price objective on Penumbra from $260.00 to $266.00 and gave the company an "equal weight" rating in a report on Thursday, July 31st. Royal Bank Of Canada cut their target price 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. Finally, Wall Street Zen upgraded shares of Penumbra from a "hold" rating to a "buy" rating in a research note on Saturday, August 30th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $302.93.

Penumbra Stock Performance

NYSE:PEN traded down $14.85 during mid-day trading on Wednesday, reaching $272.24. The stock had a trading volume of 481,440 shares, compared to its average volume of 496,368. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.04 and a current ratio of 6.75. The business has a 50 day simple moving average of $250.64 and a 200 day simple moving average of $265.20. Penumbra, Inc. has a twelve month low of $184.80 and a twelve month high of $310.00. The firm has a market capitalization of $10.62 billion, a price-to-earnings ratio of 72.41, a PEG ratio of 2.57 and a beta of 0.45.

Penumbra (NYSE:PEN - Get Free Report) last posted 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. Penumbra had a return on equity of 11.55% and a net margin of 11.54%.The business had revenue of $339.46 million during the quarter, compared to analysts' expectations of $327.37 million. During the same period last year, the firm earned $0.64 EPS. The company's quarterly revenue was up 13.4% compared to the same quarter last year. Penumbra has set its FY 2025 guidance at EPS. On average, analysts expect that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal year.

Insider Activity at Penumbra

In other news, CEO Adam Elsesser sold 15,800 shares of the company's stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $269.65, for a total transaction of $4,260,470.00. Following 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Johanna Roberts sold 600 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $270.58, for a total transaction of $162,348.00. Following the completion of the sale, the executive vice president owned 64,857 shares of the company's stock, valued at $17,549,007.06. This trade represents a 0.92% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 112,163 shares of company stock worth $27,932,335. 5.00% of the stock is currently owned by 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.