Russell Investments Group Ltd. Has $5.79 Million Stake in Penumbra, Inc. $PEN

Key Points

• Russell Investments Group Ltd. has increased its stake in Penumbra, Inc. by 8.3%, now owning 21,644 shares valued at approximately $5.79 million.
• Several hedge funds, including First Horizon Advisors Inc. and Meeder Asset Management Inc., have significantly increased their positions in Penumbra during the first quarter.
• Penumbra recently reported earnings of $0.86 EPS, exceeding analysts' expectations of $0.81, with a revenue increase of 13.4% year-over-year.

Russell Investments Group Ltd. raised its stake in Penumbra, Inc. (NYSE:PEN - Free Report) by 8.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,644 shares of the company's stock after buying an additional 1,655 shares during the quarter. Russell Investments Group Ltd. owned 0.06% of Penumbra worth $5,788,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in PEN. Synergy Investment Management LLC acquired a new position in Penumbra in the first quarter valued at about $27,000. First Horizon Advisors Inc. lifted its stake in Penumbra by 404.8% in the first quarter. First Horizon Advisors Inc. now owns 106 shares of the company's stock valued at $28,000 after buying an additional 85 shares during the period. Versant Capital Management Inc lifted its stake in Penumbra by 893.5% in the first quarter. Versant Capital Management Inc now owns 308 shares of the company's stock valued at $82,000 after buying an additional 277 shares during the period. Meeder Asset Management Inc. lifted its stake in Penumbra by 1,966.7% in the first quarter. Meeder Asset Management Inc. now owns 372 shares of the company's stock valued at $99,000 after buying an additional 354 shares during the period. Finally, UMB Bank n.a. lifted its stake in Penumbra by 110.4% in the first quarter. UMB Bank n.a. now owns 404 shares of the company's stock valued at $108,000 after buying an additional 212 shares during the period. Institutional investors and hedge funds own 88.88% of the company's stock.

Penumbra Stock Up 1.1%

NYSE:PEN opened at $255.9490 on Thursday. 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 company has a market cap of $9.98 billion, a PE ratio of 68.07, a PEG ratio of 2.28 and a beta of 0.40. Penumbra, Inc. has a 52-week low of $184.80 and a 52-week high of $310.00. The stock has a 50-day simple moving average of $246.04 and a 200 day simple moving average of $265.33.

Penumbra (NYSE:PEN - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.81 by $0.05. The business 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%.Penumbra's quarterly revenue was up 13.4% on a year-over-year basis. During the same period last year, the company earned $0.64 earnings per share. Penumbra has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that Penumbra, Inc. will post 3.67 EPS for the current fiscal year.

Analysts Set New Price Targets

PEN has been the topic of several analyst reports. Wall Street Zen lowered Penumbra from a "strong-buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Wells Fargo & Company dropped their price target on Penumbra from $315.00 to $290.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 30th. Citigroup dropped 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 raised their price target on Penumbra from $260.00 to $266.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 31st. Finally, Truist Financial set a $310.00 price target on Penumbra and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $300.47.

Insider Transactions at Penumbra

In related news, Director Arani Bose sold 12,000 shares of the stock in a transaction dated 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 completion of the transaction, the director directly owned 558 shares in the company, valued at approximately $139,862.70. This trade represents a 95.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Adam Elsesser sold 16,300 shares of the stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $267.91, for a total value of $4,366,933.00. Following the transaction, the chief executive officer owned 98,289 shares of the company's stock, valued at approximately $26,332,605.99. The trade was a 14.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 112,487 shares of company stock valued at $27,969,587 in the last ninety days. 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.

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