Penumbra, Inc. (NYSE:PEN) Shares Bought by XTX Topco Ltd

Key Points

• XTX Topco Ltd increased its holdings in Penumbra, Inc. by 49.7% during the first quarter, acquiring an additional 2,814 shares for a total worth of $2.27 million.
• Several institutional investors also made significant investments in Penumbra, with 88.88% of the company's stock currently owned by institutional investors.
• Penumbra reported a 13.4% year-over-year revenue increase, with earnings per share for the last quarter reaching $0.86, surpassing analyst estimates of $0.81.

XTX Topco Ltd increased its holdings in shares of Penumbra, Inc. (NYSE:PEN - Free Report) by 49.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,478 shares of the company's stock after buying an additional 2,814 shares during the quarter. XTX Topco Ltd's holdings in Penumbra were worth $2,267,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in PEN. Harvest Fund Management Co. Ltd acquired a new stake in shares of Penumbra in the first quarter valued at about $173,000. Meeder Asset Management Inc. raised its position in Penumbra by 1,966.7% during the first quarter. Meeder Asset Management Inc. now owns 372 shares of the company's stock valued at $99,000 after purchasing an additional 354 shares in the last quarter. Fielder Capital Group LLC acquired a new position in shares of Penumbra during the first quarter worth $209,000. Bryce Point Capital LLC bought a new stake in shares of Penumbra in the first quarter worth $839,000. Finally, LPL Financial LLC boosted its position in Penumbra by 167.8% during the first quarter. LPL Financial LLC now owns 25,408 shares of the company's stock valued at $6,794,000 after acquiring an additional 15,922 shares during the last quarter. Institutional investors and hedge funds own 88.88% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on PEN shares. Robert W. Baird increased their price objective 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. Canaccord Genuity Group set a $350.00 price target on shares of Penumbra and gave the company a "buy" rating in a report on Wednesday, July 30th. Truist Financial set a $310.00 target price on shares of Penumbra and gave the stock a "buy" rating in a research report on Wednesday, July 30th. UBS Group set a $335.00 price target on shares of Penumbra and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Finally, Morgan Stanley raised their price target on shares of Penumbra from $260.00 to $266.00 and gave the company an "equal weight" rating in a research report on Thursday. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $300.47.

Insiders Place Their Bets

In other news, CEO Adam Elsesser sold 16,650 shares of Penumbra stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $289.37, for a total value of $4,818,010.50. Following the sale, the chief executive officer owned 75,237 shares in the company, valued at $21,771,330.69. This trade represents a 18.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Johanna Roberts sold 900 shares of the business's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $298.55, for a total transaction of $268,695.00. Following the completion of the transaction, the executive vice president owned 65,314 shares in the company, valued at $19,499,494.70. The trade was a 1.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 115,735 shares of company stock valued at $30,476,510 in the last ninety days. 5.00% of the stock is owned by corporate insiders.

Penumbra Price Performance

PEN stock traded down $2.59 during mid-day trading on Monday, hitting $240.42. The company had a trading volume of 119,567 shares, compared to its average volume of 503,712. The company has a 50-day moving average price of $249.42 and a 200 day moving average price of $267.29. The company has a quick ratio of 4.04, a current ratio of 6.75 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $9.38 billion, a price-to-earnings ratio of 64.00, a P/E/G ratio of 2.19 and a beta of 0.40. Penumbra, Inc. has a 12-month low of $163.63 and a 12-month high of $310.00.

Penumbra (NYSE:PEN - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.81 by $0.05. The company 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%. The firm's revenue was up 13.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.64 EPS. On average, research analysts anticipate that Penumbra, Inc. will post 3.67 earnings per share for the current year.

Penumbra 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.