VIRGINIA RETIREMENT SYSTEMS ET Al Purchases Shares of 5,402 Penumbra, Inc. $PEN

Key Points

• Virginia Retirement Systems purchased 5,402 shares of Penumbra, Inc. for approximately $1.39 million in the second quarter, indicating strong institutional interest in the company.
• An average analyst rating of "Moderate Buy" is currently assigned to Penumbra, with a consensus price target set at $302.81.
• Penumbra's shares recently opened at $251.97, showcasing a market capitalization of $9.83 billion and a PE ratio of 67.01.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Penumbra, Inc. (NYSE:PEN - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 5,402 shares of the company's stock, valued at approximately $1,386,000.

A number of other institutional investors have also recently made changes to their positions in the business. GAMMA Investing LLC grew its holdings in shares of Penumbra by 7.3% in the second quarter. GAMMA Investing LLC now owns 761 shares of the company's stock valued at $195,000 after purchasing an additional 52 shares in the last quarter. First Horizon Advisors Inc. grew its holdings in shares of 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 purchasing an additional 85 shares in the last quarter. Synergy Investment Management LLC acquired a new position in shares of Penumbra in the first quarter valued at approximately $27,000. State of Michigan Retirement System grew its holdings 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 valued at $2,464,000 after purchasing an additional 100 shares in the last quarter. Finally, Louisiana State Employees Retirement System grew its holdings 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 valued at $2,888,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 88.88% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on PEN. Weiss Ratings restated a "hold (c)" rating on shares of Penumbra in a report on Wednesday, October 8th. Needham & Company LLC set a $326.00 price objective on shares of Penumbra and gave the company a "buy" rating in a report on Wednesday, October 8th. Royal Bank Of Canada decreased their price target on shares of Penumbra from $330.00 to $325.00 and set an "outperform" rating for the company in a research note on Wednesday, July 30th. Truist Financial decreased their price target on shares of Penumbra from $310.00 to $300.00 and set a "buy" rating for the company in a research note on Wednesday, October 15th. Finally, Morgan Stanley lifted their price target on shares of Penumbra from $260.00 to $266.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $302.81.

Penumbra Stock Up 1.2%

Shares of NYSE:PEN opened at $251.97 on Thursday. The company has a market capitalization of $9.83 billion, a PE ratio of 67.01, a P/E/G ratio of 2.25 and a beta of 0.41. The company has a current ratio of 6.75, a quick ratio of 4.04 and a debt-to-equity ratio of 0.02. Penumbra, Inc. has a twelve month low of $199.01 and a twelve month high of $310.00. The firm has a 50 day simple moving average of $260.53 and a 200-day simple moving average of $261.06.

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, topping the consensus estimate 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 net margin of 11.54% and a return on equity of 11.55%. The company's revenue was up 13.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.64 EPS. Penumbra has set its FY 2025 guidance at EPS. On average, equities analysts predict that Penumbra, Inc. will post 3.67 EPS for the current fiscal year.

Insider Buying and Selling at Penumbra

In other news, Director Arani Bose sold 12,000 shares of the company's stock in a transaction on 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 transaction, the director directly owned 558 shares of the company's stock, valued at $139,862.70. This represents a 95.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Adam Elsesser sold 15,800 shares of the stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $269.65, for a total transaction of $4,260,470.00. Following the completion of the sale, the chief executive officer directly owned 182,460 shares in the company, valued at approximately $49,200,339. The trade was a 7.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 64,460 shares of company stock worth $16,322,614. 4.20% of the stock is owned by insiders.

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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