Penumbra, Inc. $PEN Shares Sold by Thoroughbred Financial Services LLC

Thoroughbred Financial Services LLC lowered its position in Penumbra, Inc. (NYSE:PEN) by 10.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,702 shares of the company’s stock after selling 1,075 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in Penumbra were worth $2,489,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Parkside Financial Bank & Trust grew its stake 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 acquiring an additional 66 shares during the last quarter. AlphaQuest LLC acquired a new position in Penumbra during the first quarter worth about $66,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Penumbra in the first quarter valued at about $76,000. Spire Wealth Management acquired a new stake in shares of Penumbra in the second quarter valued at approximately $91,000. Finally, Meeder Asset Management Inc. increased its stake in shares of Penumbra by 1,966.7% during the 1st quarter. Meeder Asset Management Inc. now owns 372 shares of the company’s stock worth $99,000 after purchasing an additional 354 shares in the last quarter. Institutional investors and hedge funds own 88.88% of the company’s stock.

Penumbra Stock Performance

Penumbra stock opened at $280.33 on Friday. The stock has a fifty day moving average price of $256.27 and a 200 day moving average price of $257.94. Penumbra, Inc. has a 52 week low of $221.26 and a 52 week high of $310.00. The firm has a market capitalization of $10.98 billion, a P/E ratio of 74.56, a PEG 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 issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.07. The firm had revenue of $354.69 million for the quarter, compared to analyst estimates of $340.77 million. Penumbra had a return on equity of 11.55% and a net margin of 11.54%.The firm’s quarterly revenue was up 17.8% on a year-over-year basis. During the same period last year, the company earned $0.85 EPS. Penumbra has set its FY 2025 guidance at EPS. Equities research analysts anticipate that Penumbra, Inc. will post 3.67 earnings per share for the current year.

Analyst Ratings Changes

PEN has been the subject of several research reports. BTIG Research restated a “buy” rating and set a $320.00 price objective on shares of Penumbra in a research report on Monday, October 27th. Weiss Ratings reissued a “hold (c)” rating on shares of Penumbra in a research report on Wednesday, October 8th. Needham & Company LLC reissued a “buy” rating and issued a $326.00 price target on shares of Penumbra in a report on Monday, October 27th. Wells Fargo & Company set a $290.00 price objective on Penumbra in a research note on Wednesday, October 1st. Finally, Morgan Stanley lifted their price objective on Penumbra from $260.00 to $266.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Penumbra has a consensus rating of “Moderate Buy” and a consensus target price of $305.69.

Insider Activity at Penumbra

In other Penumbra news, Director Thomas Wilder sold 186 shares of the stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $253.93, for a total transaction of $47,230.98. Following the transaction, the director owned 186 shares of the company’s stock, valued at $47,230.98. This trade represents a 50.00% 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, CEO Adam Elsesser sold 15,800 shares of Penumbra stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $269.65, for a total transaction of $4,260,470.00. Following the completion of the transaction, the chief executive officer owned 182,460 shares in the company, valued at approximately $49,200,339. This trade represents a 7.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 34,430 shares of company stock valued at $9,008,613 over the last three months. Insiders own 4.20% of the company’s stock.

Penumbra Company 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.