Intrust Bank NA Invests $593,000 in Penumbra, Inc. (NYSE:PEN)

Key Points

• Intrust Bank NA made a new investment of $593,000 in Penumbra, Inc., acquiring 2,218 shares during the first quarter.
• Penumbra reported $0.86 earnings per share for the latest quarter, exceeding analysts' expectations and reflecting a 13.4% increase in revenue year-over-year.
• Several analysts adjusted their price targets on Penumbra, with Canaccord Genuity setting the highest target at $350.00 and most analysts maintaining a rating of "buy."

Intrust Bank NA acquired a new stake in Penumbra, Inc. (NYSE:PEN - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 2,218 shares of the company's stock, valued at approximately $593,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Concurrent Investment Advisors LLC acquired a new stake in Penumbra during the 1st quarter valued at $259,000. GAMMA Investing LLC lifted its position in Penumbra by 59.0% in the 1st quarter. GAMMA Investing LLC now owns 709 shares of the company's stock worth $190,000 after buying an additional 263 shares in the last quarter. Farther Finance Advisors LLC increased its stake in shares of Penumbra by 606.3% during the 1st quarter. Farther Finance Advisors LLC now owns 445 shares of the company's stock worth $121,000 after purchasing an additional 382 shares during the last quarter. Gotham Asset Management LLC bought a new position in Penumbra in the 4th quarter worth $275,000. Finally, Cambridge Investment Research Advisors Inc. acquired a new stake in Penumbra during the first quarter valued at approximately $2,614,000. 88.88% of the stock is currently owned by institutional investors and hedge funds.

Penumbra Stock Down 0.9%

PEN stock traded down $2.23 during trading hours on Monday, hitting $238.27. The company's stock had a trading volume of 37,058 shares, compared to its average volume of 498,431. The company has a market capitalization of $9.29 billion, a PE ratio of 63.37, a price-to-earnings-growth ratio of 2.16 and a beta of 0.40. Penumbra, Inc. has a 12 month low of $168.30 and a 12 month high of $310.00. The company has a quick ratio of 4.04, a current ratio of 6.75 and a debt-to-equity ratio of 0.02. The stock has a 50 day moving average price of $246.70 and a two-hundred day moving average price of $266.28.

Penumbra (NYSE:PEN - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The company reported $0.86 earnings per share for the quarter, beating analysts' consensus estimates of $0.81 by $0.05. Penumbra had a return on equity of 11.55% and a net margin of 11.54%. The company had revenue of $339.46 million for the quarter, compared to the consensus estimate of $327.37 million. During the same period in the previous year, the business earned $0.64 earnings per share. The company's quarterly revenue was up 13.4% on a year-over-year basis. On average, equities research analysts expect that Penumbra, Inc. will post 3.67 earnings per share for the current year.

Insider Activity at Penumbra

In other news, Director Bridget O'rourke sold 100 shares of the company's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $286.15, for a total value of $28,615.00. Following the completion of the transaction, the director owned 5,423 shares in the company, valued at $1,551,791.45. This represents a 1.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Johanna Roberts sold 600 shares of the stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $252.70, for a total transaction of $151,620.00. Following the completion of the sale, the executive vice president owned 66,057 shares of the company's stock, valued at approximately $16,692,603.90. This represents a 0.90% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 114,215 shares of company stock worth $29,208,150. 5.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

PEN has been the subject of a number of analyst reports. Truist Financial set a $310.00 price objective on shares of Penumbra and gave the company a "buy" rating in a report on Wednesday, July 30th. William Blair upgraded shares of Penumbra to a "strong-buy" rating in a research note on Friday, July 18th. Wells Fargo & Company cut their price objective on shares of Penumbra from $315.00 to $290.00 and set an "overweight" rating on the stock in a report on Wednesday, July 30th. Robert W. Baird boosted their price objective on Penumbra from $283.00 to $285.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Finally, Citigroup decreased their price objective on shares of Penumbra from $320.00 to $285.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 9th. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $300.47.

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.