Vident Advisory LLC Has $801,000 Position in Penumbra, Inc. $PEN

Key Points

• Vident Advisory LLC significantly increased its holdings in Penumbra, Inc. by 235.3%, acquiring an additional 2,101 shares, bringing its total to 2,994 shares worth approximately $801,000.
• Several institutional investors made substantial moves with Penumbra shares, including JPMorgan Chase & Co., which raised its stake by 437.0%, and GAMMA Investing LLC, which raised its position by an astounding 42,409.9%.
• Penumbra's latest earnings report showed earnings per share of $0.86, surpassing analysts' expectations, with revenue increasing by 13.4% year-over-year.

Vident Advisory LLC lifted its holdings in Penumbra, Inc. (NYSE:PEN - Free Report) by 235.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,994 shares of the company's stock after acquiring an additional 2,101 shares during the period. Vident Advisory LLC's holdings in Penumbra were worth $801,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mercer Global Advisors Inc. ADV increased its holdings in Penumbra by 41.8% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 1,760 shares of the company's stock valued at $418,000 after purchasing an additional 519 shares in the last quarter. BNP Paribas Financial Markets boosted its position in shares of Penumbra by 59.3% in the fourth quarter. BNP Paribas Financial Markets now owns 6,523 shares of the company's stock worth $1,549,000 after buying an additional 2,429 shares during the period. Bank of America Corp DE raised its holdings in shares of Penumbra by 19.9% during the 4th quarter. Bank of America Corp DE now owns 346,528 shares of the company's stock valued at $82,293,000 after buying an additional 57,421 shares during the period. Captrust Financial Advisors acquired a new position in Penumbra during the 4th quarter worth approximately $343,000. Finally, Brevan Howard Capital Management LP acquired a new position in Penumbra during the 4th quarter worth approximately $253,000. Institutional investors and hedge funds own 88.88% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on PEN shares. Wall Street Zen upgraded shares of Penumbra from a "hold" rating to a "buy" rating in a research note on Saturday, August 30th. Robert W. Baird boosted their price objective on shares of Penumbra from $283.00 to $285.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Truist Financial set a $310.00 target price on Penumbra and gave the company a "buy" rating in a research note on Wednesday, July 30th. Evercore ISI started coverage on Penumbra in a research report on Tuesday, September 2nd. They set an "outperform" rating and a $300.00 target price on the stock. Finally, William Blair upgraded Penumbra to a "strong-buy" rating in a research note on Friday, July 18th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Penumbra has a consensus rating of "Moderate Buy" and a consensus price target of $302.93.

Penumbra Stock Performance

Shares of Penumbra stock traded down $8.51 during trading hours on Wednesday, reaching $278.58. The company's stock had a trading volume of 65,270 shares, compared to its average volume of 493,757. 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's 50 day simple moving average is $250.64 and its 200 day simple moving average is $265.20. Penumbra, Inc. has a one year low of $184.80 and a one year high of $310.00. The stock has a market cap of $10.86 billion, a P/E ratio of 74.44, 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 net margin of 11.54% and a return on equity of 11.55%. The firm had revenue of $339.46 million for the quarter, compared to the consensus estimate of $327.37 million. During the same period last year, the firm posted $0.64 EPS. Penumbra's quarterly revenue was up 13.4% compared to the same quarter last year. Penumbra has set its FY 2025 guidance at EPS. As a group, analysts expect that Penumbra, Inc. will post 3.67 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Arani Bose sold 12,000 shares of the stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $250.65, for a total value of $3,007,800.00. Following the completion of the transaction, the director 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Adam Elsesser sold 16,150 shares of the stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $233.16, for a total transaction 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. This represents a 9.94% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 112,163 shares of company stock worth $27,932,335. Insiders own 5.00% of the company's stock.

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.