Penumbra, Inc. (NYSE:PEN) Holdings Raised by M&T Bank Corp

M&T Bank Corp boosted its stake in Penumbra, Inc. (NYSE:PEN) by 8.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,560 shares of the company’s stock after buying an additional 115 shares during the period. M&T Bank Corp’s holdings in Penumbra were worth $370,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Pallas Capital Advisors LLC raised its stake in shares of Penumbra by 3.8% in the 4th quarter. Pallas Capital Advisors LLC now owns 1,108 shares of the company’s stock worth $263,000 after buying an additional 41 shares in the last quarter. Advisors Asset Management Inc. raised its position in Penumbra by 11.5% in the third quarter. Advisors Asset Management Inc. now owns 416 shares of the company’s stock worth $81,000 after acquiring an additional 43 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in Penumbra by 1.0% in the 4th quarter. Pacer Advisors Inc. now owns 5,721 shares of the company’s stock valued at $1,359,000 after acquiring an additional 57 shares during the last quarter. CIBC Asset Management Inc boosted its position in shares of Penumbra by 5.4% during the 4th quarter. CIBC Asset Management Inc now owns 1,183 shares of the company’s stock valued at $281,000 after purchasing an additional 61 shares in the last quarter. Finally, UMB Bank n.a. boosted its position in shares of Penumbra by 57.4% during the 4th quarter. UMB Bank n.a. now owns 192 shares of the company’s stock valued at $46,000 after purchasing an additional 70 shares in the last quarter. Institutional investors and hedge funds own 88.88% of the company’s stock.

Insider Activity at Penumbra

In related news, Director Harpreet Grewal sold 167 shares of Penumbra stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $241.28, for a total value of $40,293.76. Following the completion of the sale, the director now owns 8,530 shares of the company’s stock, valued at approximately $2,058,118.40. The trade was a 1.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Adam Elsesser sold 15,000 shares of the company’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $242.96, for a total transaction of $3,644,400.00. Following the completion of the sale, the chief executive officer now owns 837,582 shares of the company’s stock, valued at $203,498,922.72. This represents a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 79,918 shares of company stock valued at $22,054,293. 5.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

PEN has been the topic of a number of research reports. JPMorgan Chase & Co. boosted their target price on shares of Penumbra from $230.00 to $285.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Bank of America started coverage on Penumbra in a research report on Friday. They set a “buy” rating and a $320.00 price objective for the company. Royal Bank of Canada lifted their target price on Penumbra from $285.00 to $313.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Needham & Company LLC reaffirmed a “hold” rating on shares of Penumbra in a research report on Wednesday, February 19th. Finally, UBS Group increased their price target on Penumbra from $305.00 to $320.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $294.47.

Penumbra Stock Up 4.9 %

PEN stock opened at $273.51 on Friday. The company has a 50 day moving average of $269.89 and a two-hundred day moving average of $237.38. The company has a quick ratio of 3.25, a current ratio of 6.01 and a debt-to-equity ratio of 0.02. Penumbra, Inc. has a 12-month low of $148.00 and a 12-month high of $310.00. The company has a market cap of $10.53 billion, a price-to-earnings ratio of 804.45, a PEG ratio of 2.83 and a beta of 0.51.

Penumbra (NYSE:PEN) last released its quarterly earnings data on Tuesday, February 18th. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.09. Penumbra had a return on equity of 9.74% and a net margin of 1.17%. The firm had revenue of $315.52 million during the quarter, compared to analysts’ expectations of $311.63 million. On average, equities analysts anticipate that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal 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.