Lecap Asset Management Ltd. Acquires New Holdings in Penumbra, Inc. $PEN

Lecap Asset Management Ltd. purchased a new position in Penumbra, Inc. (NYSE:PEN) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,314 shares of the company’s stock, valued at approximately $1,107,000.

Several other institutional investors have also added to or reduced their stakes in the business. JPMorgan Chase & Co. raised its stake in shares of Penumbra by 437.0% in the first quarter. JPMorgan Chase & Co. now owns 703,634 shares of the company’s stock worth $188,159,000 after purchasing an additional 572,606 shares during the last quarter. Lord Abbett & CO. LLC purchased a new stake in shares of Penumbra in the first quarter valued at approximately $63,731,000. Los Angeles Capital Management LLC boosted its stake in shares of Penumbra by 487.1% in the first quarter. Los Angeles Capital Management LLC now owns 179,550 shares of the company’s stock worth $48,013,000 after acquiring an additional 148,968 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Penumbra in the first quarter worth approximately $33,696,000. Finally, Woodline Partners LP boosted its stake in Penumbra by 476.1% during the first quarter. Woodline Partners LP now owns 145,881 shares of the company’s stock worth $39,010,000 after buying an additional 120,558 shares during the last quarter. Institutional investors and hedge funds own 88.88% of the company’s stock.

Penumbra Stock Performance

NYSE PEN opened at $249.48 on Thursday. Penumbra, Inc. has a fifty-two week low of $187.84 and a fifty-two week high of $310.00. The stock has a market cap of $9.73 billion, a price-to-earnings ratio of 66.35, a price-to-earnings-growth ratio of 2.28 and a beta of 0.41. The business has a fifty day moving average of $256.72 and a 200-day moving average of $263.26. The company has a quick ratio of 4.04, a current ratio of 6.75 and a debt-to-equity ratio of 0.02.

Penumbra (NYSE:PEN) last released its quarterly earnings results on Tuesday, July 29th. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. Penumbra had a return on equity of 11.55% and a net margin of 11.54%.The company had revenue of $339.46 million during the quarter, compared to analysts’ expectations of $327.37 million. During the same period in the previous year, the firm posted $0.64 earnings per share. The business’s revenue for the quarter was up 13.4% compared to the same quarter last year. Penumbra has set its FY 2025 guidance at EPS. As a group, analysts predict that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Citigroup cut their price objective on Penumbra from $320.00 to $285.00 and set a “neutral” rating on the stock in a report on Wednesday, July 9th. Robert W. Baird lifted their target price on Penumbra from $283.00 to $285.00 and gave the company an “outperform” rating in a research note on Wednesday, July 30th. Evercore ISI started coverage on Penumbra in a research note on Tuesday, September 2nd. They issued an “outperform” rating and a $300.00 target price on the stock. Wells Fargo & Company set a $290.00 target price on Penumbra in a research note on Wednesday. Finally, 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. One 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 stock. Based on data from MarketBeat.com, Penumbra has an average rating of “Moderate Buy” and an average price target of $302.93.

Insider Buying and Selling

In related news, Director Harpreet Grewal sold 186 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $272.19, for a total value of $50,627.34. Following the completion of the transaction, the director owned 8,888 shares of the company’s stock, valued at approximately $2,419,224.72. This represents a 2.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Adam Elsesser sold 15,800 shares of the firm’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $269.65, for a total value 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. This trade represents a 7.97% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 95,623 shares of company stock valued at $23,741,200. 4.20% of the stock is owned by corporate insiders.

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.