PNC Financial Services Group Inc. Has $543,000 Holdings in Penumbra, Inc. (NYSE:PEN)

PNC Financial Services Group Inc. grew its position in Penumbra, Inc. (NYSE:PEN) by 11.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,286 shares of the company’s stock after purchasing an additional 228 shares during the period. PNC Financial Services Group Inc.’s holdings in Penumbra were worth $543,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of PEN. KBC Group NV increased its holdings in shares of Penumbra by 14.3% during the 3rd quarter. KBC Group NV now owns 1,018 shares of the company’s stock valued at $198,000 after acquiring an additional 127 shares during the last quarter. CIBC Asset Management Inc acquired a new position in shares of Penumbra during the 3rd quarter valued at about $218,000. Natixis Advisors LLC increased its holdings in shares of Penumbra by 45.8% during the 3rd quarter. Natixis Advisors LLC now owns 27,725 shares of the company’s stock valued at $5,387,000 after acquiring an additional 8,705 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in shares of Penumbra by 11.5% during the 3rd quarter. Advisors Asset Management Inc. now owns 416 shares of the company’s stock valued at $81,000 after acquiring an additional 43 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new position in shares of Penumbra during the 3rd quarter valued at about $31,965,000. 88.88% of the stock is owned by institutional investors and hedge funds.

Penumbra Price Performance

Shares of PEN stock opened at $280.26 on Thursday. The company has a current ratio of 6.01, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $10.79 billion, a P/E ratio of 824.31, a P/E/G ratio of 2.83 and a beta of 0.51. Penumbra, Inc. has a 12 month low of $148.00 and a 12 month high of $310.00. The stock has a 50 day moving average of $271.61 and a two-hundred day moving average of $239.21.

Penumbra (NYSE:PEN) last posted its earnings results on Tuesday, February 18th. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.88 by $0.09. The business had revenue of $315.52 million during the quarter, compared to the consensus estimate of $311.63 million. Penumbra had a return on equity of 9.74% and a net margin of 1.17%. As a group, equities analysts expect that Penumbra, Inc. will post 3.67 EPS for the current year.

Insider Buying and Selling

In related news, EVP Johanna Roberts sold 600 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $287.43, for a total transaction of $172,458.00. Following the completion of the transaction, the executive vice president now owns 66,539 shares in the company, valued at $19,125,304.77. This trade represents a 0.89 % 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 15,000 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $242.96, for a total value of $3,644,400.00. Following the transaction, the chief executive officer now owns 837,582 shares of the company’s stock, valued at $203,498,922.72. This trade represents a 1.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 79,918 shares of company stock worth $22,054,293 in the last 90 days. 5.00% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on PEN. Oppenheimer began coverage on Penumbra in a report on Tuesday, December 17th. They set an “outperform” rating and a $275.00 price objective on the stock. Robert W. Baird raised their target price on Penumbra from $305.00 to $328.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Canaccord Genuity Group raised their target price on Penumbra from $323.00 to $340.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Citigroup raised their target price on Penumbra from $220.00 to $245.00 and gave the company a “neutral” rating in a report on Wednesday, December 11th. Finally, StockNews.com lowered Penumbra from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $294.47.

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.