Robeco Institutional Asset Management B.V. Invests $1.33 Million in Penumbra, Inc. $PEN

Robeco Institutional Asset Management B.V. acquired a new position in shares of Penumbra, Inc. (NYSE:PEN - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 5,193 shares of the company's stock, valued at approximately $1,333,000.

Several other institutional investors have also recently bought and sold shares of PEN. JPMorgan Chase & Co. raised its position in Penumbra by 437.0% in the 1st quarter. JPMorgan Chase & Co. now owns 703,634 shares of the company's stock worth $188,159,000 after purchasing an additional 572,606 shares during the last quarter. Lord Abbett & CO. LLC bought a new position in Penumbra in the 1st quarter worth approximately $63,731,000. Los Angeles Capital Management LLC raised its position in Penumbra by 487.1% in the 1st quarter. Los Angeles Capital Management LLC now owns 179,550 shares of the company's stock worth $48,013,000 after purchasing an additional 148,968 shares during the last quarter. Nuveen LLC bought a new position in Penumbra in the 1st quarter worth approximately $33,696,000. Finally, Woodline Partners LP raised its position in Penumbra by 476.1% in the 1st quarter. Woodline Partners LP now owns 145,881 shares of the company's stock worth $39,010,000 after purchasing an additional 120,558 shares during the last quarter. Institutional investors own 88.88% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on PEN. Citigroup dropped their price objective 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. Wall Street Zen lowered shares of Penumbra from a "buy" rating to a "hold" rating in a report on Friday, September 26th. Wells Fargo & Company set a $290.00 target price on shares of Penumbra in a report on Wednesday, October 1st. Robert W. Baird lifted their target price on shares of Penumbra from $283.00 to $285.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Finally, Truist Financial set a $310.00 target price on shares of Penumbra and gave the stock a "buy" rating in a report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $301.93.

Insider Buying and Selling

In other news, CEO Adam Elsesser sold 16,150 shares of the business's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $233.16, for a total value of $3,765,534.00. Following the completion of the transaction, the chief executive officer owned 146,258 shares of the company's stock, valued at $34,101,515.28. The trade was a 9.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thomas Wilder sold 372 shares of the business's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $240.16, for a total transaction of $89,339.52. Following the completion of the sale, the director directly owned 372 shares in the company, valued at $89,339.52. This represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 80,610 shares of company stock worth $20,088,148 over the last ninety days. Insiders own 5.00% of the company's stock.

Penumbra Price Performance

Shares of PEN stock opened at $249.05 on Wednesday. Penumbra, Inc. has a 12-month low of $190.51 and a 12-month high of $310.00. The firm has a market capitalization of $9.71 billion, a price-to-earnings ratio of 66.24, a price-to-earnings-growth ratio of 2.30 and a beta of 0.41. The company has a quick ratio of 4.04, a current ratio of 6.75 and a debt-to-equity ratio of 0.02. The firm has a fifty day moving average of $258.59 and a 200-day moving average of $262.45.

Penumbra (NYSE:PEN - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.05. Penumbra had a net margin of 11.54% and a return on equity of 11.55%. The company had revenue of $339.46 million during the quarter, compared to analyst estimates of $327.37 million. During the same quarter in the previous year, the business earned $0.64 EPS. The firm's revenue was up 13.4% on a year-over-year basis. Penumbra has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that Penumbra, Inc. will post 3.67 earnings per share for the current 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.