Bayforest Capital Ltd Decreases Holdings in Penumbra, Inc. $PEN

Bayforest Capital Ltd lowered its position in Penumbra, Inc. (NYSE:PEN) by 72.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 400 shares of the company’s stock after selling 1,031 shares during the quarter. Bayforest Capital Ltd’s holdings in Penumbra were worth $103,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Penumbra by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 3,675,349 shares of the company’s stock valued at $982,825,000 after purchasing an additional 24,727 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Penumbra by 437.0% during the first quarter. JPMorgan Chase & Co. now owns 703,634 shares of the company’s stock valued at $188,159,000 after buying an additional 572,606 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Penumbra by 0.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 322,030 shares of the company’s stock valued at $80,726,000 after buying an additional 984 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Penumbra by 4.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 283,821 shares of the company’s stock valued at $75,897,000 after buying an additional 12,247 shares during the last quarter. Finally, Lord Abbett & CO. LLC purchased a new position in shares of Penumbra in the first quarter worth about $63,731,000. 88.88% of the stock is owned by hedge funds and other institutional investors.

Penumbra Price Performance

Shares of Penumbra stock opened at $249.32 on Friday. The business has a 50 day moving average of $260.49 and a 200 day moving average of $261.50. Penumbra, Inc. has a 52 week low of $199.01 and a 52 week high of $310.00. The company has a market cap of $9.72 billion, a PE ratio of 66.31, a P/E/G ratio of 2.29 and a beta of 0.41. 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 issued its quarterly earnings data on Tuesday, July 29th. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.81 by $0.05. The business had revenue of $339.46 million during the quarter, compared to analyst estimates of $327.37 million. Penumbra had a net margin of 11.54% and a return on equity of 11.55%. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.64 EPS. Penumbra has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that Penumbra, Inc. will post 3.67 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on PEN shares. Citigroup reduced their price target on Penumbra from $320.00 to $285.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 9th. William Blair upgraded shares of Penumbra to a “strong-buy” rating in a report on Friday, July 18th. Morgan Stanley lifted their target price on shares of Penumbra from $260.00 to $266.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 31st. Truist Financial dropped 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. Finally, Wall Street Zen raised shares of Penumbra from a “hold” rating to a “buy” rating in a report on Saturday, October 11th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $302.81.

Insiders Place Their Bets

In other Penumbra news, Director Arani Bose sold 12,000 shares of Penumbra stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $250.65, for a total transaction of $3,007,800.00. Following the sale, the director directly owned 558 shares of the company’s stock, valued at approximately $139,862.70. The trade was a 95.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Adam Elsesser sold 15,800 shares of the company’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 transaction, the chief executive officer owned 182,460 shares in the company, valued at $49,200,339. This trade represents a 7.97% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 80,610 shares of company stock valued at $20,088,148 over the last ninety days. 4.20% of the stock is owned by corporate insiders.

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.