Petrus Trust Company LTA Sells 2,528 Shares of 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 reduced its position in shares of Penumbra, Inc. (NYSE:PEN - Free Report) by 73.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm 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 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in PEN. EFG Asset Management North America Corp. increased its holdings in shares of Penumbra by 24.6% during the first quarter. EFG Asset Management North America Corp. now owns 18,519 shares of the company's stock valued at $4,953,000 after acquiring an additional 3,659 shares in the last quarter. PDT Partners LLC grew its position in 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 during the period. Royal Bank of Canada grew its position in 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 during the period. Vident Advisory LLC grew its position in 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 during the period. Finally, Evergreen Capital Management LLC grew its position in 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 during the period. Institutional investors and hedge funds own 88.88% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on PEN. Wall Street Zen raised shares of Penumbra from a "hold" rating to a "buy" rating in a research report on Saturday, August 30th. Citigroup reduced their price target on shares of Penumbra from $320.00 to $285.00 and set a "neutral" rating for the company in a research report on Wednesday, July 9th. Canaccord Genuity Group set a $350.00 price target on shares of Penumbra and gave the company a "buy" rating in a research report on Wednesday, July 30th. William Blair raised shares of Penumbra to a "strong-buy" rating in a research report on Friday, July 18th. Finally, Truist Financial set a $310.00 price target on shares of Penumbra and gave the company a "buy" rating in a research report on Wednesday, July 30th. One research 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 stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $302.93.

Insider Activity at Penumbra

In other news, CFO Maggie Yuen sold 2,000 shares of Penumbra stock in a transaction 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 sale, the chief financial officer directly owned 12,943 shares in the company, valued at $3,235,750. The trade was a 13.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Adam Elsesser sold 15,800 shares of Penumbra stock in a transaction 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 sale, the chief executive officer owned 182,460 shares in the company, valued at $49,200,339. The trade was a 7.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 112,163 shares of company stock worth $27,932,335. 5.00% of the stock is owned by company insiders.

Penumbra Price Performance

Shares of NYSE:PEN opened at $287.46 on Wednesday. The company has a current ratio of 6.75, a quick ratio of 4.04 and a debt-to-equity ratio of 0.02. The stock's fifty day simple moving average is $250.64 and its two-hundred day simple moving average is $265.20. Penumbra, Inc. has a 1-year low of $184.80 and a 1-year high of $310.00. The stock has a market cap of $11.21 billion, a PE ratio of 76.45, a price-to-earnings-growth ratio of 2.57 and a beta of 0.45.

Penumbra (NYSE:PEN - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $0.86 earnings per share 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 for the quarter, compared to analysts' expectations of $327.37 million. During the same period last year, the business earned $0.64 EPS. The business's revenue was up 13.4% on a year-over-year basis. Penumbra has set its FY 2025 guidance at EPS. As a group, analysts forecast that Penumbra, Inc. will post 3.67 EPS for the current fiscal year.

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.

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