Rational Advisors Inc. Invests $3.26 Million in Penumbra, Inc. (NYSE:PEN)

Rational Advisors Inc. purchased a new stake in Penumbra, Inc. (NYSE:PEN - Free Report) during the first quarter, according to its most recent filing with the SEC. The fund purchased 12,200 shares of the company's stock, valued at approximately $3,262,000.

Several other hedge funds have also bought and sold shares of PEN. Synergy Investment Management LLC bought a new stake in shares of Penumbra in the 1st quarter worth about $27,000. First Horizon Advisors Inc. raised its position in Penumbra by 404.8% during the first quarter. First Horizon Advisors Inc. now owns 106 shares of the company's stock valued at $28,000 after purchasing an additional 85 shares during the period. Hurley Capital LLC purchased a new position in shares of Penumbra in the 4th quarter worth approximately $56,000. Huntington National Bank increased 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 valued at $63,000 after purchasing an additional 154 shares during the last quarter. Finally, Versant Capital Management Inc raised its holdings in 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 period. Hedge funds and other institutional investors own 88.88% of the company's stock.

Analyst Ratings Changes

PEN has been the subject of a number of recent analyst reports. Royal Bank Of Canada lifted their price target on shares of Penumbra from $315.00 to $330.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Robert W. Baird upped their target price on Penumbra from $316.00 to $325.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Truist Financial raised their price target on Penumbra from $315.00 to $330.00 and gave the stock a "buy" rating in a research note on Thursday, April 24th. BTIG Research restated a "buy" rating on shares of Penumbra in a report on Thursday, April 24th. Finally, Citigroup reduced their target price on Penumbra from $320.00 to $285.00 and set a "neutral" rating on the stock in a research note on Wednesday. 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. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $305.07.

Penumbra Stock Performance

Shares of NYSE:PEN opened at $237.37 on Friday. The firm has a 50 day moving average of $264.08 and a 200 day moving average of $268.16. The company has a quick ratio of 3.68, a current ratio of 6.30 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $9.19 billion, a price-to-earnings ratio of 223.93, a price-to-earnings-growth ratio of 2.17 and a beta of 0.47. 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 quarterly earnings data on Wednesday, April 23rd. The company reported $0.83 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.66 by $0.17. The firm had revenue of $324.14 million for the quarter, compared to the consensus estimate of $315.72 million. Penumbra had a net margin of 3.41% and a return on equity of 11.14%. The company's quarterly revenue was up 16.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.41 EPS. On average, sell-side analysts predict that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal year.

Insider Transactions at Penumbra

In other Penumbra news, EVP Johanna Roberts sold 600 shares of the firm's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $252.70, for a total value of $151,620.00. Following the completion of the transaction, the executive vice president owned 66,057 shares of the company's stock, valued at approximately $16,692,603.90. This trade represents a 0.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Adam Elsesser sold 15,985 shares of the business's stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $243.75, for a total transaction of $3,896,343.75. Following the sale, the chief executive officer directly owned 134,432 shares in the company, valued at $32,767,800. This trade represents a 10.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 130,795 shares of company stock worth $35,630,558. Insiders own 4.20% of the company's stock.

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.

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