Intrust Bank NA Takes $593,000 Position 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 purchased a new stake in shares of Penumbra, Inc. (NYSE:PEN - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 2,218 shares of the company's stock, valued at approximately $593,000.

Other institutional investors have also added to or reduced their stakes in the company. Synergy Investment Management LLC bought a new stake in Penumbra during the 1st quarter worth approximately $27,000. First Horizon Advisors Inc. lifted its stake in Penumbra by 404.8% in the 1st quarter. First Horizon Advisors Inc. now owns 106 shares of the company's stock worth $28,000 after purchasing an additional 85 shares in the last quarter. Versant Capital Management Inc boosted its stake in Penumbra by 893.5% during the first 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. Meeder Asset Management Inc. grew its holdings in shares of Penumbra by 1,966.7% in the first quarter. Meeder Asset Management Inc. now owns 372 shares of the company's stock valued at $99,000 after purchasing an additional 354 shares in the last quarter. Finally, UMB Bank n.a. increased its holdings in shares of Penumbra by 110.4% in the 1st 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. 88.88% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $252.70, for a total transaction of $151,620.00. Following the completion of the transaction, the executive vice president directly owned 66,057 shares in the company, valued at approximately $16,692,603.90. This trade represents a 0.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Bridget O'rourke sold 100 shares of the business'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 directly owned 5,423 shares of the company's stock, valued at $1,551,791.45. The trade was a 1.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 115,115 shares of company stock valued at $29,476,845. Company insiders own 4.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on PEN shares. Stifel Nicolaus set a $318.00 price target on Penumbra and gave the company a "buy" rating in a report on Thursday, April 24th. Citigroup reduced their price objective on Penumbra from $320.00 to $285.00 and set a "neutral" rating on the stock in a report on Wednesday, July 9th. Morgan Stanley lifted their price objective on Penumbra from $260.00 to $266.00 and gave the company an "equal weight" rating in a report on Thursday, July 31st. Wells Fargo & Company lowered their target price on Penumbra from $315.00 to $290.00 and set an "overweight" rating for the company in a report on Wednesday, July 30th. Finally, Royal Bank Of Canada lowered their price target on shares of Penumbra from $330.00 to $325.00 and set an "outperform" rating on the stock in a report on Wednesday, July 30th. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $300.47.

Penumbra Stock Performance

NYSE PEN traded up $0.19 during trading hours on Friday, reaching $240.93. The stock had a trading volume of 280,040 shares, compared to its average volume of 535,241. Penumbra, Inc. has a 52-week low of $166.64 and a 52-week high of $310.00. The stock has a fifty day moving average of $246.70 and a 200 day moving average of $266.40. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.04 and a current ratio of 6.75. The stock has a market cap of $9.40 billion, a P/E ratio of 64.08, a price-to-earnings-growth ratio of 2.17 and a beta of 0.40.

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, topping analysts' consensus estimates of $0.81 by $0.05. The firm had revenue of $339.46 million for the quarter, compared to analyst estimates of $327.37 million. Penumbra had a net margin of 11.54% and a return on equity of 11.55%. The business's quarterly revenue was up 13.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.64 earnings per share. Sell-side analysts predict that Penumbra, Inc. will post 3.67 earnings per share for the current year.

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.