United Services Automobile Association Makes New Investment in Penumbra, Inc. $PEN

Key Points

• United Services Automobile Association invested approximately $656,000 in shares of Penumbra, acquiring 2,452 shares in the first quarter, highlighting institutional interest in the company.
• CEO Adam Elsesser sold 15,800 shares of Penumbra stock for about $4.26 million, indicating a notable reduction in his ownership stake.
• Penumbra reported earnings of $0.86 per share, surpassing analyst expectations, which reflects a 13.4% increase in quarterly revenue compared to the previous year.

United Services Automobile Association bought a new position in shares of Penumbra, Inc. (NYSE:PEN - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,452 shares of the company's stock, valued at approximately $656,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PEN. Vanguard Group Inc. boosted its stake in shares of Penumbra by 0.7% in the first quarter. Vanguard Group Inc. now owns 3,675,349 shares of the company's stock valued at $982,825,000 after buying an additional 24,727 shares during the period. RTW Investments LP grew its holdings in shares of Penumbra by 8.4% during the 4th quarter. RTW Investments LP now owns 862,450 shares of the company's stock worth $204,815,000 after purchasing an additional 66,700 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Penumbra by 437.0% during 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 in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Penumbra by 7.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 321,046 shares of the company's stock worth $87,045,000 after purchasing an additional 21,649 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Penumbra by 4.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 283,821 shares of the company's stock valued at $75,897,000 after purchasing an additional 12,247 shares in the last quarter. 88.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Penumbra

In other news, Director Arani Bose sold 12,000 shares of the company's stock in a transaction dated Wednesday, August 13th. The shares were 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 of the company's stock, valued at approximately $139,862.70. This represents a 95.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Johanna Roberts sold 600 shares of the business's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $270.58, for a total value of $162,348.00. Following the transaction, the executive vice president owned 64,857 shares in the company, valued at approximately $17,549,007.06. This represents a 0.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 112,163 shares of company stock worth $27,932,335 over the last ninety days. 4.20% of the stock is owned by company insiders.

Penumbra Price Performance

Shares of Penumbra stock traded down $2.86 on Friday, hitting $273.54. 454,483 shares of the company traded hands, compared to its average volume of 448,436. Penumbra, Inc. has a 12-month low of $184.80 and a 12-month high of $310.00. 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 company has a market cap of $10.67 billion, a P/E ratio of 72.75, a P/E/G ratio of 2.49 and a beta of 0.45. The firm's 50-day simple moving average is $252.08 and its 200 day simple moving average is $265.12.

Penumbra (NYSE:PEN - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $0.86 earnings per share for the quarter, beating analysts' consensus estimates of $0.81 by $0.05. The company had revenue of $339.46 million for the quarter, compared to analysts' expectations of $327.37 million. Penumbra had a return on equity of 11.55% and a net margin of 11.54%.Penumbra's revenue for the quarter was up 13.4% compared to the same quarter last year. During the same period last year, the firm posted $0.64 EPS. Penumbra has set its FY 2025 guidance at EPS. Analysts expect that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on PEN shares. Evercore ISI assumed coverage on shares of Penumbra in a report on Tuesday, September 2nd. They set an "outperform" rating and a $300.00 price target on the stock. Morgan Stanley raised their price target on shares of Penumbra from $260.00 to $266.00 and gave the stock an "equal weight" rating in a report on Thursday, July 31st. Wall Street Zen raised shares of Penumbra from a "hold" rating to a "buy" rating in a research report on Saturday, August 30th. UBS Group set a $335.00 target price on Penumbra and gave the company a "buy" rating in a research report on Wednesday, July 30th. Finally, Royal Bank Of Canada dropped their price objective on shares of Penumbra from $330.00 to $325.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $302.93.

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.