Commerce Bank Makes New Investment in Penumbra, Inc. (NYSE:PEN)

Commerce Bank bought a new stake in Penumbra, Inc. (NYSE:PEN - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,160 shares of the company's stock, valued at approximately $275,000.

Several other large investors have also modified their holdings of PEN. UMB Bank n.a. lifted its position in shares of Penumbra by 57.4% in the 4th quarter. UMB Bank n.a. now owns 192 shares of the company's stock worth $46,000 after buying an additional 70 shares during the last quarter. Hurley Capital LLC bought a new position in shares of Penumbra during the fourth quarter valued at approximately $56,000. Huntington National Bank raised its position in shares of Penumbra by 138.7% during the 4th quarter. Huntington National Bank now owns 265 shares of the company's stock worth $63,000 after purchasing an additional 154 shares during the period. Mather Group LLC. lifted its holdings in shares of Penumbra by 208.0% in the 4th quarter. Mather Group LLC. now owns 308 shares of the company's stock worth $73,000 after purchasing an additional 208 shares during the last quarter. Finally, Jones Financial Companies Lllp boosted its position in Penumbra by 25.0% during the 4th quarter. Jones Financial Companies Lllp now owns 375 shares of the company's stock valued at $89,000 after purchasing an additional 75 shares during the period. Institutional investors own 88.88% of the company's stock.

Analyst Upgrades and Downgrades

PEN has been the topic of a number of recent research reports. Morgan Stanley raised their target price on Penumbra from $240.00 to $260.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 19th. Piper Sandler reiterated an "overweight" rating and issued a $330.00 price objective (up from $250.00) on shares of Penumbra in a research report on Wednesday, February 19th. Wells Fargo & Company upped their target price on shares of Penumbra from $305.00 to $315.00 and gave the stock an "overweight" rating in a research report on Thursday, April 24th. StockNews.com raised Penumbra from a "hold" rating to a "buy" rating in a report on Thursday, April 24th. Finally, BTIG Research reissued a "buy" rating on shares of Penumbra in a report on Thursday, April 24th. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $302.40.

Penumbra Price Performance

Shares of NYSE:PEN traded down $4.55 during trading hours on Wednesday, hitting $292.36. 520,775 shares of the company's stock traded hands, compared to its average volume of 426,570. The company's fifty day simple moving average is $276.75 and its two-hundred day simple moving average is $256.41. The company has a market cap of $11.32 billion, a price-to-earnings ratio of 859.88, a price-to-earnings-growth ratio of 2.83 and a beta of 0.56. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.25 and a current ratio of 6.01. Penumbra, Inc. has a 52 week low of $148.00 and a 52 week high of $310.00.

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

Insider Buying and Selling

In other news, CFO Maggie Yuen sold 2,000 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $286.00, for a total transaction of $572,000.00. Following the sale, the chief financial officer now owns 15,243 shares in the company, valued at $4,359,498. The trade was a 11.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas Wilder sold 360 shares of the firm's stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $264.58, for a total transaction of $95,248.80. Following the completion of the transaction, the director now directly owns 4,533 shares of the company's stock, valued at $1,199,341.14. This represents a 7.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 140,446 shares of company stock worth $39,543,953 in the last three months. 5.00% of the stock is currently owned by insiders.

Penumbra Company 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.