Penumbra, Inc. (NYSE:PEN) Position Trimmed by Comerica Bank

Comerica Bank lowered its stake in Penumbra, Inc. (NYSE:PEN) by 4.6% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 12,015 shares of the company’s stock after selling 583 shares during the period. Comerica Bank’s holdings in Penumbra were worth $2,853,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of PEN. UMB Bank n.a. lifted its holdings in shares of Penumbra by 57.4% during the fourth quarter. UMB Bank n.a. now owns 192 shares of the company’s stock valued at $46,000 after purchasing an additional 70 shares during the last quarter. Hurley Capital LLC purchased a new stake in Penumbra during the fourth quarter valued at about $56,000. Huntington National Bank boosted its holdings in shares of Penumbra by 138.7% in the fourth quarter. Huntington National Bank now owns 265 shares of the company’s stock worth $63,000 after buying an additional 154 shares during the period. Mather Group LLC. increased its position in shares of Penumbra by 208.0% in the fourth quarter. Mather Group LLC. now owns 308 shares of the company’s stock worth $73,000 after acquiring an additional 208 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its holdings in shares of Penumbra by 25.0% during the fourth quarter. Jones Financial Companies Lllp now owns 375 shares of the company’s stock valued at $89,000 after acquiring an additional 75 shares during the period. Institutional investors and hedge funds own 88.88% of the company’s stock.

Analyst Upgrades and Downgrades

PEN has been the topic of several recent analyst reports. Bank of America assumed coverage on shares of Penumbra in a research note on Friday, March 14th. They set a “buy” rating and a $320.00 target price on the stock. Piper Sandler reissued an “overweight” rating and set a $330.00 price target (up from $250.00) on shares of Penumbra in a research report on Wednesday, February 19th. Needham & Company LLC restated a “hold” rating on shares of Penumbra in a research report on Wednesday, February 19th. Truist Financial upped their target price on Penumbra from $315.00 to $330.00 and gave the company a “buy” rating in a report on Thursday, April 24th. Finally, Robert W. Baird raised their price target on shares of Penumbra from $316.00 to $325.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. Three equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $302.40.

Penumbra Price Performance

Shares of Penumbra stock opened at $288.65 on Thursday. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.01 and a quick ratio of 3.25. The company has a market cap of $11.18 billion, a PE ratio of 848.97, a price-to-earnings-growth ratio of 2.83 and a beta of 0.53. The firm has a fifty day moving average price of $277.42 and a two-hundred day moving average price of $259.36. Penumbra, Inc. has a fifty-two week low of $148.00 and a fifty-two week high of $310.00.

Penumbra (NYSE:PEN) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.17. The company had revenue of $324.14 million during the quarter, compared to the consensus estimate of $315.72 million. Penumbra had a return on equity of 9.74% and a net margin of 1.17%. The company’s quarterly revenue was up 16.3% on a year-over-year basis. During the same quarter last year, the company earned $0.41 EPS. Analysts expect that Penumbra, Inc. will post 3.67 EPS for the current year.

Insider Buying and Selling at Penumbra

In related news, CFO Maggie Yuen sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $286.00, for a total transaction of $572,000.00. Following the completion of the transaction, the chief financial officer now owns 15,243 shares in the company, valued at $4,359,498. This trade represents a 11.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Adam Elsesser sold 61,600 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $283.59, for a total value of $17,469,144.00. Following the completion of the sale, the chief executive officer now owns 16,376 shares in the company, valued at $4,644,069.84. This trade represents a 79.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 142,446 shares of company stock valued at $40,141,973 in the last 90 days. 5.00% of the stock is currently owned by company insiders.

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.