Inceptionr LLC Invests $949,000 in Penumbra, Inc. $PEN

Inceptionr LLC bought a new position in shares of Penumbra, Inc. (NYSE:PEN) in the second quarter, Holdings Channel.com reports. The fund bought 3,697 shares of the company’s stock, valued at approximately $949,000.

Several other hedge funds and other institutional investors have also bought and sold shares of PEN. Parkside Financial Bank & Trust grew its holdings in Penumbra by 70.2% during the 2nd quarter. Parkside Financial Bank & Trust now owns 160 shares of the company’s stock worth $41,000 after acquiring an additional 66 shares during the period. AlphaQuest LLC bought a new stake in shares of Penumbra during the 1st quarter valued at about $66,000. Caitong International Asset Management Co. Ltd acquired a new stake in Penumbra during the first quarter worth approximately $76,000. Spire Wealth Management bought a new stake in Penumbra in the second quarter worth approximately $91,000. Finally, Meeder Asset Management Inc. lifted its stake in Penumbra by 1,966.7% in the first quarter. Meeder Asset Management Inc. now owns 372 shares of the company’s stock valued at $99,000 after buying an additional 354 shares during the period. Institutional investors and hedge funds own 88.88% of the company’s stock.

Analysts Set New Price Targets

PEN has been the subject of several research analyst reports. BTIG Research reiterated a “buy” rating and issued a $320.00 price objective on shares of Penumbra in a research note on Monday, October 27th. UBS Group set a $335.00 price target on shares of Penumbra and gave the stock a “buy” rating in a report on Wednesday, July 30th. Wall Street Zen downgraded shares of Penumbra from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Truist Financial cut their price objective on shares of Penumbra from $310.00 to $300.00 and set a “buy” rating on the stock in a research report on Wednesday, October 15th. Finally, Royal Bank Of Canada reduced their target price on Penumbra from $330.00 to $325.00 and set an “outperform” rating for the company in a research note on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $305.69.

Insider Buying and Selling at Penumbra

In other Penumbra news, Director Harpreet Grewal sold 186 shares of Penumbra stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $227.58, for a total transaction of $42,329.88. Following the completion of the transaction, the director owned 8,516 shares in the company, valued at approximately $1,938,071.28. The trade was a 2.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Arani Bose sold 7,500 shares of the stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $290.56, for a total value of $2,179,200.00. Following the completion of the sale, the director directly owned 282,761 shares of the company’s stock, valued at approximately $82,159,036.16. This trade represents a 2.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 35,330 shares of company stock worth $9,932,319. 4.20% of the stock is currently owned by corporate insiders.

Penumbra Stock Performance

PEN opened at $295.96 on Thursday. Penumbra, Inc. has a 1-year low of $221.26 and a 1-year high of $310.00. The company has a market cap of $11.59 billion, a price-to-earnings ratio of 78.71, a PEG ratio of 2.10 and a beta of 0.51. The company’s fifty day moving average price is $258.75 and its two-hundred day moving average price is $257.67. 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 (NYSE:PEN) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.07. The firm had revenue of $354.69 million during the quarter, compared to analysts’ expectations of $340.77 million. Penumbra had a net margin of 11.54% and a return on equity of 11.55%. The business’s revenue was up 17.8% on a year-over-year basis. During the same period last year, the company earned $0.85 earnings per share. Penumbra has set its FY 2025 guidance at EPS. On average, analysts expect that Penumbra, Inc. will post 3.67 EPS for the current fiscal 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.