Campbell & CO Investment Adviser LLC Takes $4.94 Million Position in Penumbra, Inc. $PEN

Campbell & CO Investment Adviser LLC bought a new position in shares of Penumbra, Inc. (NYSE:PEN) during the second quarter, Holdings Channel.com reports. The fund bought 19,233 shares of the company’s stock, valued at approximately $4,936,000.

Other large investors also recently modified their holdings of the company. Parkside Financial Bank & Trust increased its stake in Penumbra by 70.2% during the 2nd quarter. Parkside Financial Bank & Trust now owns 160 shares of the company’s stock valued at $41,000 after purchasing an additional 66 shares in the last quarter. Vestmark Advisory Solutions Inc. grew its holdings in shares of Penumbra by 94.1% during the second quarter. Vestmark Advisory Solutions Inc. now owns 1,640 shares of the company’s stock valued at $421,000 after buying an additional 795 shares during the last quarter. Genus Capital Management Inc. bought a new stake in shares of Penumbra during the second quarter worth about $1,383,000. Machina Capital S.A.S. bought a new stake in shares of Penumbra during the second quarter worth about $369,000. Finally, State of Michigan Retirement System raised its holdings in shares of Penumbra by 1.1% in the 2nd quarter. State of Michigan Retirement System now owns 9,314 shares of the company’s stock worth $2,390,000 after acquiring an additional 100 shares during the last quarter. 88.88% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Adam Elsesser sold 15,900 shares of the firm’s stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $254.53, for a total transaction of $4,047,027.00. Following the completion of the sale, the chief executive officer owned 170,280 shares in the company, valued at $43,341,368.40. This trade represents a 8.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Maggie Yuen sold 2,000 shares of Penumbra stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $250.00, for a total transaction of $500,000.00. Following the completion of the sale, the chief financial officer directly owned 12,943 shares in the company, valued at $3,235,750. This trade represents a 13.38% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 48,802 shares of company stock worth $12,588,928. 4.20% of the stock is owned by insiders.

Penumbra Trading Up 0.6%

Shares of Penumbra stock opened at $266.25 on Friday. The firm has a market cap of $10.43 billion, a PE ratio of 70.81, a P/E/G ratio of 2.10 and a beta of 0.51. 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 fifty day moving average price of $255.94 and a 200-day moving average price of $258.50.

Penumbra (NYSE:PEN) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.97 earnings per share for the quarter, topping 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 the consensus estimate of $340.77 million. During the same period in the previous year, the firm earned $0.85 EPS. The firm’s quarterly revenue was up 17.8% on a year-over-year basis. Penumbra has set its FY 2025 guidance at EPS. Equities research analysts anticipate that Penumbra, Inc. will post 3.67 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PEN. Morgan Stanley lifted their price target on Penumbra from $260.00 to $266.00 and gave the company an “equal weight” rating in a research note on Thursday, July 31st. JPMorgan Chase & Co. raised their target price on Penumbra from $265.00 to $275.00 and gave the company a “neutral” rating in a report on Thursday. 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 report on Wednesday, July 30th. Royal Bank Of Canada lowered their price target on Penumbra from $330.00 to $325.00 and set an “outperform” rating for the company in a research report on Wednesday, July 30th. Finally, Needham & Company LLC restated a “buy” rating and set a $326.00 price objective on shares of Penumbra in a research note on Monday, October 27th. One investment 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’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $305.69.

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.