Crestline Management LP Purchases Shares of 1,400 Penumbra, Inc. (NYSE:PEN)

Crestline Management LP acquired a new position in shares of Penumbra, Inc. (NYSE:PEN) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 1,400 shares of the company’s stock, valued at approximately $332,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PEN. China Universal Asset Management Co. Ltd. acquired a new position in Penumbra during the 4th quarter worth $573,000. E. Ohman J or Asset Management AB grew its position in Penumbra by 10.4% in the 4th quarter. E. Ohman J or Asset Management AB now owns 21,312 shares of the company’s stock valued at $5,061,000 after buying an additional 2,000 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Penumbra by 1.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 271,574 shares of the company’s stock valued at $64,493,000 after buying an additional 3,807 shares in the last quarter. Washington Capital Management Inc. acquired a new position in Penumbra during the 4th quarter valued at about $226,000. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Penumbra by 39.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 299,397 shares of the company’s stock worth $71,831,000 after buying an additional 85,284 shares in the last quarter. 88.88% of the stock is owned by institutional investors.

Insider Buying and Selling at Penumbra

In other Penumbra news, Director Thomas Wilder sold 360 shares of the company’s stock in a transaction on Monday, March 31st. The shares were sold at an average price of $264.58, for a total transaction of $95,248.80. Following the sale, the director now owns 4,533 shares of the company’s stock, valued at approximately $1,199,341.14. This represents a 7.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Adam Elsesser sold 16,650 shares of the firm’s stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $289.37, for a total value of $4,818,010.50. Following the sale, the chief executive officer now directly owns 75,237 shares of the company’s stock, valued at $21,771,330.69. This represents a 18.12 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 159,096 shares of company stock worth $44,959,983. Insiders own 5.00% of the company’s stock.

Penumbra Trading Up 3.0 %

Shares of PEN opened at $297.25 on Friday. Penumbra, Inc. has a 52-week low of $148.00 and a 52-week high of $310.00. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.25 and a current ratio of 6.01. The business’s fifty day moving average is $277.75 and its 200-day moving average is $260.95. The firm has a market cap of $11.51 billion, a price-to-earnings ratio of 874.26, a PEG ratio of 2.83 and a beta of 0.53.

Penumbra (NYSE:PEN) last issued its earnings results on Wednesday, April 23rd. The company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.17. The business had revenue of $324.14 million during the quarter, compared to analysts’ expectations of $315.72 million. Penumbra had a return on equity of 9.74% and a net margin of 1.17%. The business’s revenue for the quarter was up 16.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.41 EPS. Equities analysts anticipate that Penumbra, Inc. will post 3.67 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on PEN shares. Truist Financial lifted their price target on Penumbra from $315.00 to $330.00 and gave the company a “buy” rating in a research report on Thursday, April 24th. Wells Fargo & Company increased their price objective on Penumbra from $305.00 to $315.00 and gave the company an “overweight” rating in a research report on Thursday, April 24th. BTIG Research restated a “buy” rating on shares of Penumbra in a report on Thursday, April 24th. Canaccord Genuity Group raised their price objective on shares of Penumbra from $323.00 to $340.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $330.00 price objective (up previously from $250.00) on shares of Penumbra in a research note on Wednesday, February 19th. Three analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $302.40.

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.