Silvercrest Asset Management Group LLC Purchases 6,474 Shares of Penumbra, Inc. (NYSE:PEN)

Silvercrest Asset Management Group LLC raised its position in Penumbra, Inc. (NYSE:PEN - Free Report) by 205.3% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 9,627 shares of the company's stock after acquiring an additional 6,474 shares during the period. Silvercrest Asset Management Group LLC's holdings in Penumbra were worth $2,286,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. UMB Bank n.a. lifted its stake in Penumbra by 57.4% in the 4th quarter. UMB Bank n.a. now owns 192 shares of the company's stock valued at $46,000 after acquiring an additional 70 shares in the last quarter. Hurley Capital LLC bought a new stake in Penumbra in the 4th quarter valued at approximately $56,000. Huntington National Bank lifted its stake in Penumbra by 138.7% in the 4th quarter. Huntington National Bank now owns 265 shares of the company's stock valued at $63,000 after acquiring an additional 154 shares in the last quarter. Mather Group LLC. lifted its stake in Penumbra by 208.0% in the 4th quarter. Mather Group LLC. now owns 308 shares of the company's stock valued at $73,000 after acquiring an additional 208 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted its stake in Penumbra by 25.0% in the 4th quarter. Jones Financial Companies Lllp now owns 375 shares of the company's stock valued at $89,000 after acquiring an additional 75 shares in the last quarter. Institutional investors own 88.88% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on PEN shares. Piper Sandler reiterated an "overweight" rating and set a $330.00 price objective (up previously from $250.00) on shares of Penumbra in a research note on Wednesday, February 19th. Bank of America initiated coverage on Penumbra in a report on Friday, March 14th. They set a "buy" rating and a $320.00 target price on the stock. Stifel Nicolaus set a $318.00 target price on Penumbra and gave the stock a "buy" rating in a report on Thursday, April 24th. Robert W. Baird boosted their target price on Penumbra from $316.00 to $325.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Finally, Morgan Stanley boosted their target price on Penumbra from $240.00 to $260.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 19th. Three analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Penumbra currently has an average rating of "Moderate Buy" and an average price target of $302.40.

Penumbra Price Performance

NYSE:PEN traded up $1.97 during trading hours on Friday, hitting $268.72. The company's stock had a trading volume of 235,921 shares, compared to its average volume of 443,992. The stock has a fifty day simple moving average of $279.68 and a 200-day simple moving average of $265.40. The company has a market capitalization of $10.41 billion, a P/E ratio of 790.35, a PEG ratio of 2.83 and a beta of 0.53. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.01 and a quick ratio of 3.25. 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, beating the consensus estimate of $0.66 by $0.17. The business had revenue of $324.14 million for the quarter, compared to analyst estimates of $315.72 million. Penumbra had a return on equity of 9.74% and a net margin of 1.17%. Penumbra's revenue 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. On average, analysts anticipate that Penumbra, Inc. will post 3.67 EPS for the current fiscal year.

Insider Buying and Selling at Penumbra

In other Penumbra news, EVP Johanna Roberts sold 600 shares of the stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $300.01, for a total value of $180,006.00. Following the completion of the transaction, the executive vice president now directly owns 66,159 shares in the company, valued at approximately $19,848,361.59. This trade represents a 0.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas Wilder sold 360 shares of the firm's stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $264.58, for a total value of $95,248.80. Following the transaction, the director now owns 4,533 shares of the company's stock, valued at $1,199,341.14. This trade represents a 7.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 176,696 shares of company stock worth $50,207,745. 4.20% 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.