Silver Oak Securities Incorporated Buys Shares of 1,040 Penumbra, Inc. (NYSE:PEN)

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

Several other institutional investors have also modified their holdings of the business. Rhumbline Advisers raised its holdings in Penumbra by 0.8% during the 4th quarter. Rhumbline Advisers now owns 110,386 shares of the company's stock worth $26,214,000 after buying an additional 849 shares during the period. CIBC Asset Management Inc increased its position in shares of Penumbra by 5.4% during the fourth quarter. CIBC Asset Management Inc now owns 1,183 shares of the company's stock worth $281,000 after acquiring an additional 61 shares in the last quarter. Ieq Capital LLC acquired a new stake in shares of Penumbra during the fourth quarter worth $1,815,000. Olympiad Research LP acquired a new stake in shares of Penumbra during the fourth quarter worth $253,000. Finally, Bank of New York Mellon Corp lifted its position in Penumbra by 0.6% in the 4th quarter. Bank of New York Mellon Corp now owns 294,620 shares of the company's stock valued at $69,966,000 after acquiring an additional 1,823 shares in the last quarter. Institutional investors own 88.88% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on PEN. Truist Financial increased their target price on Penumbra from $315.00 to $330.00 and gave the stock a "buy" rating in a report on Thursday, April 24th. Robert W. Baird increased their price objective on Penumbra from $316.00 to $325.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. BTIG Research reissued a "buy" rating on shares of Penumbra in a research report on Thursday, April 24th. Wall Street Zen raised Penumbra from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 14th. Finally, Stifel Nicolaus set a $318.00 price target on shares of Penumbra and gave the stock a "buy" rating in a research note on Thursday, April 24th. Three 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $302.40.

Penumbra Stock Performance

Shares of PEN opened at $256.99 on Friday. The firm has a 50-day moving average of $274.79 and a 200-day moving average of $267.48. The company has a market cap of $9.95 billion, a PE ratio of 242.45, a price-to-earnings-growth ratio of 2.29 and a beta of 0.49. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.30 and a quick ratio of 3.68. Penumbra, Inc. has a one year low of $148.00 and a one year 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 EPS for the quarter, beating the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the company earned $0.41 earnings per share. As a group, equities analysts forecast that Penumbra, Inc. will post 3.67 earnings per share for the current year.

Insiders Place Their Bets

In other Penumbra news, CEO Adam Elsesser sold 15,910 shares of the firm's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $253.67, for a total value of $4,035,889.70. Following the sale, the chief executive officer now owns 110,355 shares of the company's stock, valued at approximately $27,993,752.85. This trade represents a 12.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Thomas Wilder sold 360 shares of Penumbra stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $264.58, for a total value of $95,248.80. Following the completion of the transaction, the director now owns 4,533 shares in the company, valued at approximately $1,199,341.14. This represents a 7.36% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 128,205 shares of company stock worth $35,823,774 in the last quarter. Corporate 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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