Summit Trail Advisors LLC Invests $491,000 in Penumbra, Inc. (NYSE:PEN)

Summit Trail Advisors LLC acquired a new position in shares of Penumbra, Inc. (NYSE:PEN - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 1,836 shares of the company's stock, valued at approximately $491,000.

Several other large investors have also added to or reduced their stakes in PEN. Hurley Capital LLC purchased a new position in shares of Penumbra during the fourth quarter worth $56,000. Huntington National Bank grew its position in 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. Versant Capital Management Inc raised its stake in shares of Penumbra by 893.5% during the 1st quarter. Versant Capital Management Inc now owns 308 shares of the company's stock valued at $82,000 after buying an additional 277 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Penumbra by 25.0% in the fourth quarter. Jones Financial Companies Lllp now owns 375 shares of the company's stock worth $89,000 after buying an additional 75 shares during the last quarter. Finally, UMB Bank n.a. boosted its stake in shares of Penumbra by 110.4% in the first quarter. UMB Bank n.a. now owns 404 shares of the company's stock worth $108,000 after buying an additional 212 shares during the last quarter. Hedge funds and other institutional investors own 88.88% of the company's stock.

Insider Activity

In other Penumbra news, CEO Adam Elsesser sold 15,890 shares of the business's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $253.40, for a total value of $4,026,526.00. Following the transaction, the chief executive officer directly owned 122,441 shares in the company, valued at $31,026,549.40. The trade was a 11.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Bridget O'rourke sold 100 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $286.15, for a total transaction of $28,615.00. Following the sale, the director owned 5,423 shares of the company's stock, valued at $1,551,791.45. This represents a 1.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold 114,210 shares of company stock valued at $31,582,595 in the last quarter. Insiders own 4.20% of the company's stock.

Penumbra Price Performance

NYSE PEN traded up $0.80 during mid-day trading on Thursday, hitting $250.54. The stock had a trading volume of 233,847 shares, compared to its average volume of 451,781. The firm's 50 day moving average is $271.10 and its 200 day moving average is $268.01. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.30 and a quick ratio of 3.68. The stock has a market capitalization of $9.70 billion, a price-to-earnings ratio of 236.36, a PEG ratio of 2.23 and a beta of 0.47. Penumbra, Inc. has a twelve month low of $148.00 and a twelve month high of $310.00.

Penumbra (NYSE:PEN - Get Free Report) last released its quarterly earnings data 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. Penumbra had a return on equity of 11.14% and a net margin of 3.41%. The company had revenue of $324.14 million for the quarter, compared to analyst estimates of $315.72 million. During the same quarter in the previous year, the company posted $0.41 earnings per share. The firm's revenue for the quarter was up 16.3% compared to the same quarter last year. Equities research analysts forecast that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PEN has been the subject of a number of analyst reports. Wells Fargo & Company boosted their price target on Penumbra from $305.00 to $315.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. Wall Street Zen upgraded shares of Penumbra from a "buy" rating to a "strong-buy" rating in a research note on Saturday, June 14th. Royal Bank Of Canada raised their price target on shares of Penumbra from $315.00 to $330.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Truist Financial lifted their price objective on shares of Penumbra from $315.00 to $330.00 and gave the company a "buy" rating in a report on Thursday, April 24th. Finally, BTIG Research reissued a "buy" rating on shares of Penumbra in a research note on Thursday, April 24th. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $302.40.

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.