Vestmark Advisory Solutions Inc. Grows Stock Holdings in Penumbra, Inc. $PEN

Vestmark Advisory Solutions Inc. boosted its holdings in Penumbra, Inc. (NYSE:PEN) by 94.1% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,640 shares of the company’s stock after purchasing an additional 795 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in Penumbra were worth $421,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of PEN. GAMMA Investing LLC boosted its position in shares of Penumbra by 7.3% during the 2nd quarter. GAMMA Investing LLC now owns 761 shares of the company’s stock worth $195,000 after acquiring an additional 52 shares in the last quarter. Louisiana State Employees Retirement System lifted its stake in Penumbra by 0.9% during the second quarter. Louisiana State Employees Retirement System now owns 10,900 shares of the company’s stock worth $2,797,000 after purchasing an additional 100 shares during the last quarter. New York State Teachers Retirement System lifted its stake in Penumbra by 0.3% during the second quarter. New York State Teachers Retirement System now owns 38,154 shares of the company’s stock worth $9,791,000 after purchasing an additional 100 shares during the last quarter. Securian Asset Management Inc. boosted its holdings in Penumbra by 3.4% in the second quarter. Securian Asset Management Inc. now owns 3,001 shares of the company’s stock valued at $770,000 after purchasing an additional 100 shares in the last quarter. Finally, State of Michigan Retirement System increased its stake in Penumbra by 1.1% in the second quarter. State of Michigan Retirement System now owns 9,314 shares of the company’s stock valued at $2,390,000 after purchasing an additional 100 shares during the last quarter. 88.88% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Adam Elsesser sold 15,900 shares of the business’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $254.53, for a total value of $4,047,027.00. Following the transaction, the chief executive officer owned 170,280 shares of the company’s stock, valued at approximately $43,341,368.40. The trade was a 8.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Thomas Wilder sold 186 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $253.93, for a total value of $47,230.98. Following the sale, the director owned 186 shares of the company’s stock, valued at $47,230.98. This trade represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 33,830 shares of company stock worth $8,848,425. Insiders own 5.00% of the company’s stock.

Penumbra Stock Up 3.4%

Shares of NYSE:PEN opened at $279.73 on Wednesday. Penumbra, Inc. has a 1-year low of $221.26 and a 1-year high of $310.00. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.75 and a quick ratio of 4.04. The stock has a market cap of $10.95 billion, a P/E ratio of 74.40, a P/E/G ratio of 2.10 and a beta of 0.51. The firm has a fifty day moving average price of $256.09 and a 200 day moving average price of $258.02.

Penumbra (NYSE:PEN) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.07. Penumbra had a net margin of 11.54% and a return on equity of 11.55%. The company had revenue of $354.69 million for the quarter, compared to analyst estimates of $340.77 million. During the same period in the previous year, the business posted $0.85 earnings per share. Penumbra’s quarterly revenue was up 17.8% on a year-over-year basis. Penumbra has set its FY 2025 guidance at EPS. Sell-side analysts predict that Penumbra, Inc. will post 3.67 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Canaccord Genuity Group boosted their price objective on shares of Penumbra from $350.00 to $355.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Needham & Company LLC reiterated a “buy” rating and set a $326.00 price target on shares of Penumbra in a research note on Monday, October 27th. Truist Financial reduced their price target on shares of Penumbra from $310.00 to $300.00 and set a “buy” rating for the company in a research report on Wednesday, October 15th. Weiss Ratings restated a “hold (c)” rating on shares of Penumbra in a research note on Wednesday, October 8th. Finally, Royal Bank Of Canada dropped their price objective on Penumbra from $330.00 to $325.00 and set an “outperform” rating on the stock in a report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Penumbra has an average rating of “Moderate Buy” and an average price target of $305.69.

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.