Magnetar Financial LLC Invests $8.12 Million in Penumbra, Inc. $PEN

Magnetar Financial LLC purchased a new stake in Penumbra, Inc. (NYSE:PEN) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 31,636 shares of the company’s stock, valued at approximately $8,119,000. Magnetar Financial LLC owned approximately 0.08% of Penumbra as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on PEN shares. Evercore ISI reiterated an “outperform” rating and issued a $286.00 price target on shares of Penumbra in a research note on Thursday, November 6th. UBS Group set a $335.00 price objective on Penumbra and gave the company a “buy” rating in a research note on Wednesday, July 30th. Morgan Stanley lifted their target price on Penumbra from $260.00 to $266.00 and gave the company an “equal weight” rating in a research report on Thursday, July 31st. Needham & Company LLC reissued a “buy” rating and issued a $326.00 target price on shares of Penumbra in a report on Monday, October 27th. Finally, Canaccord Genuity Group raised their price target on shares of Penumbra from $350.00 to $355.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $305.69.

Penumbra Price Performance

Penumbra stock opened at $288.86 on Friday. The stock has a 50-day moving average price of $256.55 and a two-hundred day moving average price of $257.79. Penumbra, Inc. has a 12 month low of $221.26 and a 12 month high of $310.00. The company has a market capitalization of $11.31 billion, a PE ratio of 76.82, a P/E/G ratio of 2.10 and a beta of 0.51. 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 released its quarterly earnings data on Wednesday, November 5th. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.07. The company had revenue of $354.69 million during the quarter, compared to the consensus estimate of $340.77 million. Penumbra had a return on equity of 11.55% and a net margin of 11.54%.The firm’s revenue was up 17.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.85 earnings per share. Penumbra has set its FY 2025 guidance at EPS. Analysts expect that Penumbra, Inc. will post 3.67 EPS for the current year.

Insider Buying and Selling at Penumbra

In related news, CEO Adam Elsesser sold 15,800 shares of the stock in a transaction 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 $49,200,339. This represents a 7.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Johanna Roberts sold 600 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $270.58, for a total value of $162,348.00. Following the transaction, the executive vice president directly owned 64,857 shares of the company’s stock, valued at approximately $17,549,007.06. This represents a 0.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 18,530 shares of company stock valued at $4,961,586. Insiders own 4.20% of the company’s stock.

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.