Core Insights - AlphaQuest LLC increased its stake in Penumbra, Inc. by 237.9% in Q2, owning 838 shares valued at $215,000 [2] - Several institutional investors have also increased their positions in Penumbra, indicating strong institutional interest in the stock [3] Institutional Ownership - Wallace Advisory Group LLC purchased a new position worth approximately $229,000 in Q2 [3] - Securian Asset Management Inc. grew its stake by 3.4%, now owning 3,001 shares valued at $770,000 [3] - VIRGINIA RETIREMENT SYSTEMS ET AL acquired a new position worth approximately $1,386,000 [3] - WCM Investment Management LLC increased its stake by 7.6%, owning 43,554 shares valued at $11,169,000 [3] - New York State Teachers Retirement System grew its stake by 0.3%, now owning 38,154 shares valued at $9,791,000 [3] - Hedge funds and institutional investors collectively own 88.88% of Penumbra's stock [3] Stock Performance - Penumbra's shares opened at $227.34, with a market capitalization of $8.87 billion [4] - The company has a P/E ratio of 60.46, a PEG ratio of 2.10, and a beta of 0.41 [4] - The stock has a quick ratio of 4.04 and a current ratio of 6.75, indicating strong liquidity [4] - The twelve-month low and high for the stock are $207.58 and $310.00, respectively [4] Analyst Ratings - Evercore ISI reduced its price target from $300.00 to $285.00 while maintaining an "outperform" rating [5][6] - Morgan Stanley raised its price objective from $260.00 to $266.00, giving an "equal weight" rating [5][6] - Needham & Company LLC reaffirmed a "buy" rating with a price objective of $326.00 [5][6] - UBS Group set a price objective of $335.00 and rated the stock as "buy" [6] - The consensus rating for Penumbra is "Moderate Buy" with a price target of $305.94 [6] Insider Transactions - CEO Adam Elsesser sold 15,800 shares at an average price of $269.65, totaling $4,260,470, reducing his position by 7.97% [7] - EVP Johanna Roberts sold 600 shares at an average price of $249.70, totaling $149,820, resulting in a 0.93% decrease in her position [7] - Insiders have sold a total of 64,460 shares worth $16,322,614 over the last ninety days, with insiders owning 4.20% of the stock [7] Company Overview - Penumbra, Inc. designs, develops, manufactures, and markets medical devices, including the Indigo System for thrombus aspiration and various thrombectomy systems [8]