Silver Oak Securities Incorporated Makes New Investment in Penumbra, Inc. (NYSE:PEN)

Silver Oak Securities Incorporated purchased a new position in Penumbra, Inc. (NYSE:PEN - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,040 shares of the company's stock, valued at approximately $278,000.

Other institutional investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of Penumbra by 1.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 271,574 shares of the company's stock worth $64,493,000 after purchasing an additional 3,807 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Penumbra during the fourth quarter worth $3,553,000. HighTower Advisors LLC boosted its holdings in shares of Penumbra by 3.2% during the fourth quarter. HighTower Advisors LLC now owns 5,980 shares of the company's stock worth $1,420,000 after purchasing an additional 188 shares during the last quarter. Atria Investments Inc acquired a new stake in shares of Penumbra during the fourth quarter worth $221,000. Finally, Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Penumbra by 3.7% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 2,867 shares of the company's stock worth $681,000 after purchasing an additional 101 shares during the last quarter. 88.88% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PEN has been the topic of several analyst reports. UBS Group restated a "buy" rating and set a $330.00 price objective (up previously from $320.00) on shares of Penumbra in a report on Thursday, April 24th. Truist Financial raised their price objective on Penumbra from $315.00 to $330.00 and gave the stock a "buy" rating in a report on Thursday, April 24th. Royal Bank Of Canada lifted their target price on Penumbra from $315.00 to $330.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. BTIG Research reiterated a "buy" rating on shares of Penumbra in a report on Thursday, April 24th. Finally, Bank of America assumed coverage on Penumbra in a report on Friday, March 14th. They issued a "buy" rating and a $320.00 target price on the stock. Three 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 stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $302.40.

Insider Activity at Penumbra

In related news, Director Bridget O'rourke sold 100 shares of the business's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $286.15, for a total value of $28,615.00. Following the completion of the sale, the director now directly owns 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Adam Elsesser sold 16,565 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $272.24, for a total value of $4,509,655.60. Following the transaction, the chief executive officer now directly owns 52,495 shares of the company's stock, valued at $14,291,238.80. This trade represents a 23.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 128,205 shares of company stock valued at $35,823,774 over the last three months. 5.00% of the stock is owned by insiders.

Penumbra Stock Down 1.0%

Shares of NYSE PEN traded down $2.46 during midday trading on Monday, reaching $254.41. 477,556 shares of the company's stock were exchanged, compared to its average volume of 452,011. Penumbra, Inc. has a 52-week low of $148.00 and a 52-week high of $310.00. The stock has a market capitalization of $9.85 billion, a PE ratio of 240.01, a price-to-earnings-growth ratio of 2.29 and a beta of 0.50. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.68 and a current ratio of 6.30. The business's fifty day moving average price is $274.15 and its two-hundred day moving average price is $267.98.

Penumbra (NYSE:PEN - Get Free Report) last announced its earnings results 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. Penumbra had a return on equity of 11.14% and a net margin of 3.41%. The business had revenue of $324.14 million for the quarter, compared to analyst estimates of $315.72 million. During the same period in the previous year, the company earned $0.41 earnings per share. The company's revenue for the quarter was up 16.3% compared to the same quarter last year. Analysts forecast that Penumbra, Inc. will post 3.67 EPS for the current year.

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.