Future Fund LLC Invests $1.02 Million in Penumbra, Inc. $PEN

Future Fund LLC purchased a new stake in Penumbra, Inc. (NYSE:PEN) during the second quarter, according to its most recent disclosure with the SEC. The firm purchased 3,975 shares of the company’s stock, valued at approximately $1,020,000.

Other institutional investors also recently bought and sold shares of the company. Parkside Financial Bank & Trust raised its holdings in shares of Penumbra by 70.2% during the second 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 purchased a new stake in shares of Penumbra during the first quarter worth approximately $66,000. Caitong International Asset Management Co. Ltd acquired a new position in Penumbra in the 1st quarter valued at $76,000. Spire Wealth Management purchased a new position in Penumbra in the 2nd quarter valued at $91,000. Finally, Meeder Asset Management Inc. lifted its holdings in Penumbra by 1,966.7% in the 1st 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. 88.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Thomas Wilder sold 186 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $253.93, for a total transaction of $47,230.98. Following the completion of the sale, the director directly owned 186 shares of the company’s stock, valued at approximately $47,230.98. This trade represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Harpreet Grewal sold 186 shares of the company’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $227.58, for a total transaction of $42,329.88. Following the completion of the transaction, the director directly owned 8,516 shares in the company, valued at $1,938,071.28. The trade was a 2.14% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 48,802 shares of company stock valued at $12,588,928. 4.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

PEN has been the subject of a number of research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Penumbra in a report on Wednesday, October 8th. Morgan Stanley boosted their price target on shares of Penumbra from $260.00 to $266.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 31st. William Blair upgraded shares of Penumbra to a “strong-buy” rating in a report on Friday, July 18th. Evercore ISI reissued an “outperform” rating and issued a $286.00 target price on shares of Penumbra in a research note on Thursday. Finally, Wells Fargo & Company set a $290.00 price target on Penumbra in a research report on Wednesday, October 1st. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $305.69.

Penumbra Stock Performance

NYSE:PEN opened at $266.25 on Friday. The company’s 50-day moving average is $255.94 and its two-hundred day moving average is $258.50. 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 firm has a market capitalization of $10.43 billion, a price-to-earnings ratio of 70.81, a PEG ratio of 2.10 and a beta of 0.51.

Penumbra (NYSE:PEN) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.90 by $0.07. Penumbra had a net margin of 11.54% and a return on equity of 11.55%. The firm had revenue of $354.69 million for the quarter, compared to analyst estimates of $340.77 million. During the same quarter in the previous year, the company earned $0.85 EPS. The business’s revenue for the quarter was up 17.8% compared to the same quarter last year. Penumbra has set its FY 2025 guidance at EPS. Analysts forecast that Penumbra, Inc. will post 3.67 EPS for the current year.

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.