Summit Trail Advisors LLC Purchases New Position in Penumbra, Inc. (NYSE:PEN)

Summit Trail Advisors LLC bought a new stake in shares of Penumbra, Inc. (NYSE:PEN) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,354 shares of the company’s stock, valued at approximately $1,347,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Fifth Third Bancorp boosted its position in shares of Penumbra by 13.9% during the fourth quarter. Fifth Third Bancorp now owns 378 shares of the company’s stock valued at $95,000 after buying an additional 46 shares during the period. Signaturefd LLC lifted its position in shares of Penumbra by 27.2% during the fourth quarter. Signaturefd LLC now owns 215 shares of the company’s stock worth $54,000 after purchasing an additional 46 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Penumbra by 171.8% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 106 shares of the company’s stock worth $27,000 after purchasing an additional 67 shares during the last quarter. Treasurer of the State of North Carolina raised its position in Penumbra by 0.4% during the 3rd quarter. Treasurer of the State of North Carolina now owns 16,394 shares of the company’s stock valued at $3,966,000 after purchasing an additional 70 shares in the last quarter. Finally, M&T Bank Corp grew its position in shares of Penumbra by 6.1% during the 3rd quarter. M&T Bank Corp now owns 1,262 shares of the company’s stock worth $305,000 after buying an additional 72 shares in the last quarter. 88.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PEN. Truist Financial cut their target price on shares of Penumbra from $290.00 to $280.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. JPMorgan Chase & Co. downgraded shares of Penumbra from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $284.00 to $250.00 in a research note on Friday, February 23rd. TheStreet upgraded Penumbra from a “d+” rating to a “c-” rating in a report on Friday, January 12th. Royal Bank of Canada reissued an “outperform” rating and set a $289.00 target price on shares of Penumbra in a research report on Friday, February 23rd. Finally, Piper Sandler reiterated an “overweight” rating and set a $290.00 price target on shares of Penumbra in a research note on Wednesday, April 3rd. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $304.45.

Insider Activity at Penumbra

In other Penumbra news, EVP Johanna Roberts sold 600 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $237.68, for a total transaction of $142,608.00. Following the sale, the executive vice president now owns 62,997 shares of the company’s stock, valued at $14,973,126.96. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Penumbra news, EVP Johanna Roberts sold 600 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $237.68, for a total transaction of $142,608.00. Following the transaction, the executive vice president now owns 62,997 shares of the company’s stock, valued at $14,973,126.96. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Don W. Kassing sold 170 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $223.18, for a total value of $37,940.60. Following the completion of the sale, the director now directly owns 1,175 shares of the company’s stock, valued at $262,236.50. The disclosure for this sale can be found here. Insiders sold 9,648 shares of company stock valued at $2,369,903 over the last three months. 5.00% of the stock is owned by corporate insiders.

Penumbra Trading Up 1.5 %

Penumbra stock traded up $3.07 during midday trading on Monday, reaching $211.62. 317,626 shares of the stock traded hands, compared to its average volume of 344,109. The company has a current ratio of 6.06, a quick ratio of 3.49 and a debt-to-equity ratio of 0.02. The company has a 50-day simple moving average of $222.48 and a two-hundred day simple moving average of $231.96. The firm has a market cap of $8.20 billion, a PE ratio of 90.28, a price-to-earnings-growth ratio of 2.06 and a beta of 0.57. Penumbra, Inc. has a 12-month low of $180.93 and a 12-month high of $348.67.

Penumbra (NYSE:PEN) last announced its quarterly earnings results on Thursday, February 22nd. The company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.05. Penumbra had a return on equity of 7.49% and a net margin of 8.59%. The company had revenue of $284.68 million during the quarter, compared to the consensus estimate of $286.62 million. During the same period in the previous year, the business earned $0.16 EPS. Penumbra’s revenue for the quarter was up 28.7% on a year-over-year basis. Research analysts expect that Penumbra, Inc. will post 2.85 earnings per share for the current fiscal year.

Penumbra 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.