Petrus Trust Company LTA Decreases Holdings in Penumbra, Inc. $PEN

Key Points

• Petrus Trust Company LTA significantly reduced its stake in Penumbra, Inc. by 73.9%, selling 2,528 shares and leaving it with 892 shares valued at $239,000.
• Institutional investors and hedge funds now hold 88.88% of Penumbra's stock, with several hedge funds increasing their positions, including EFG Asset Management and PDT Partners.
• Research firms have issued mixed ratings for Penumbra, with one upgrading to a "buy" and others adjusting price targets, resulting in an average target of $302.93 for the company's stock.

Petrus Trust Company LTA decreased its stake in shares of Penumbra, Inc. (NYSE:PEN - Free Report) by 73.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 892 shares of the company's stock after selling 2,528 shares during the quarter. Petrus Trust Company LTA's holdings in Penumbra were worth $239,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. EFG Asset Management North America Corp. raised its holdings in shares of Penumbra by 24.6% in the 1st quarter. EFG Asset Management North America Corp. now owns 18,519 shares of the company's stock valued at $4,953,000 after purchasing an additional 3,659 shares in the last quarter. PDT Partners LLC raised its holdings in shares of Penumbra by 30.8% in the 1st 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 in the last quarter. Royal Bank of Canada raised its holdings 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 purchasing an additional 5,092 shares in the last quarter. Vident Advisory LLC raised its holdings in shares of Penumbra by 235.3% in the 1st quarter. Vident Advisory LLC now owns 2,994 shares of the company's stock valued at $801,000 after purchasing an additional 2,101 shares in the last quarter. Finally, Evergreen Capital Management LLC raised its holdings in shares of Penumbra by 13.1% in the 1st quarter. Evergreen Capital Management LLC now owns 1,065 shares of the company's stock valued at $285,000 after purchasing an additional 123 shares in the last quarter. Institutional investors own 88.88% of the company's stock.

Penumbra Stock Performance

Penumbra stock traded down $2.64 during mid-day trading on Monday, reaching $270.09. 55,588 shares of the company traded hands, compared to its average volume of 493,229. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.75 and a quick ratio of 4.04. Penumbra, Inc. has a fifty-two week low of $184.80 and a fifty-two week high of $310.00. The company has a market capitalization of $10.53 billion, a price-to-earnings ratio of 71.84, a price-to-earnings-growth ratio of 2.46 and a beta of 0.45. The firm's fifty day moving average is $252.08 and its two-hundred day moving average is $264.82.

Penumbra (NYSE:PEN - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.81 by $0.05. The business had revenue of $339.46 million for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the firm earned $0.64 EPS. Penumbra has set its FY 2025 guidance at EPS. On average, equities research analysts expect that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently commented on PEN shares. Evercore ISI started coverage on shares of Penumbra in a report on Tuesday, September 2nd. They issued an "outperform" rating and a $300.00 price target for the company. Citigroup reduced their price objective on shares of Penumbra from $320.00 to $285.00 and set a "neutral" rating for the company in a research note on Wednesday, July 9th. Morgan Stanley boosted their price objective on shares of Penumbra from $260.00 to $266.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 31st. Royal Bank Of Canada reduced their price objective on shares of Penumbra from $330.00 to $325.00 and set an "outperform" rating for the company in a research note on Wednesday, July 30th. Finally, UBS Group set a $335.00 price objective on shares of Penumbra and gave the stock a "buy" rating in a research note on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $302.93.

Insider Activity

In related news, EVP Johanna Roberts sold 600 shares of the stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $270.58, for a total transaction of $162,348.00. Following the sale, the executive vice president directly owned 64,857 shares of the company's stock, valued at approximately $17,549,007.06. This represents a 0.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Arani Bose sold 12,000 shares of the stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $250.65, for a total transaction of $3,007,800.00. Following the sale, the director directly owned 558 shares in the company, valued at $139,862.70. This trade represents a 95.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 112,113 shares of company stock valued at $27,919,346 in the last three months. Corporate insiders own 4.20% of the company's stock.

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.