2,452 Shares in Penumbra, Inc. $PEN Bought by United Services Automobile Association

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 acquired a new stake in shares of Penumbra, Inc. (NYSE:PEN - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 2,452 shares of the company's stock, valued at approximately $656,000.

A number of other hedge funds also recently bought and sold shares of the company. Fifth Third Bancorp lifted its position in shares of Penumbra by 16.4% in the first quarter. Fifth Third Bancorp now owns 404 shares of the company's stock worth $108,000 after purchasing an additional 57 shares in the last quarter. First Horizon Advisors Inc. lifted its position in shares of Penumbra by 404.8% in the first quarter. First Horizon Advisors Inc. now owns 106 shares of the company's stock worth $28,000 after purchasing an additional 85 shares in the last quarter. Synergy Investment Management LLC purchased a new stake in shares of Penumbra in the first quarter worth approximately $27,000. State of Michigan Retirement System lifted its position in shares of Penumbra by 1.1% in the first quarter. State of Michigan Retirement System now owns 9,214 shares of the company's stock worth $2,464,000 after purchasing an additional 100 shares in the last quarter. Finally, Louisiana State Employees Retirement System lifted its position in shares of Penumbra by 0.9% in the first quarter. Louisiana State Employees Retirement System now owns 10,800 shares of the company's stock worth $2,888,000 after purchasing an additional 100 shares in the last quarter. 88.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PEN has been the subject of a number of research analyst reports. UBS Group set a $335.00 price target on shares of Penumbra and gave the stock 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. Royal Bank Of Canada reduced their price target on shares of Penumbra from $330.00 to $325.00 and set an "outperform" rating for the company in a research report on Wednesday, July 30th. Robert W. Baird increased their price target on shares of Penumbra from $283.00 to $285.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Finally, Truist Financial set a $310.00 price objective on Penumbra and gave the stock a "buy" rating in a report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Penumbra has a consensus rating of "Moderate Buy" and a consensus target price of $302.93.

Insiders Place Their Bets

In other news, Director Harpreet Grewal sold 186 shares of the firm's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $272.19, for a total value of $50,627.34. Following the sale, the director owned 8,888 shares in the company, valued at approximately $2,419,224.72. This trade represents a 2.05% 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 firm's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $270.58, for a total transaction of $162,348.00. Following the completion of the sale, the executive vice president owned 64,857 shares in the company, valued at approximately $17,549,007.06. The trade was a 0.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 112,113 shares of company stock valued at $27,919,346 in the last 90 days. 4.20% of the stock is currently owned by corporate insiders.

Penumbra Stock Performance

Shares of Penumbra stock traded down $2.63 during midday trading on Monday, hitting $270.11. The company had a trading volume of 69,812 shares, compared to its average volume of 493,296. The business's 50 day simple moving average is $252.08 and its two-hundred day simple moving average is $264.82. The stock has a market cap of $10.53 billion, a PE ratio of 71.81, a P/E/G ratio of 2.46 and a beta of 0.45. 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 1-year low of $184.80 and a 1-year high of $310.00.

Penumbra (NYSE:PEN - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $0.86 earnings per share (EPS) for the quarter, topping 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%. Penumbra's quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter last year, the company posted $0.64 earnings per share. Penumbra has set its FY 2025 guidance at EPS. As a group, equities analysts predict that Penumbra, Inc. will post 3.67 EPS for the current fiscal year.

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.