Summit Trail Advisors LLC Invests $1.35 Million in Penumbra, Inc. (NYSE:PEN)

Summit Trail Advisors LLC purchased a new stake in shares of Penumbra, Inc. (NYSE:PEN - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,354 shares of the company's stock, valued at approximately $1,347,000.

A number of other hedge funds and other institutional investors have also modified their holdings of PEN. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Penumbra by 171.8% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 106 shares of the company's stock worth $27,000 after purchasing an additional 67 shares in the last quarter. RiverPark Advisors LLC purchased a new position in shares of Penumbra during the 3rd quarter valued at $42,000. Signaturefd LLC increased its stake in shares of Penumbra by 27.2% in the fourth quarter. Signaturefd LLC now owns 215 shares of the company's stock worth $54,000 after acquiring an additional 46 shares during the last quarter. Covestor Ltd raised its holdings in shares of Penumbra by 357.9% during the third quarter. Covestor Ltd now owns 348 shares of the company's stock worth $84,000 after acquiring an additional 272 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its holdings in shares of Penumbra by 496.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 358 shares of the company's stock worth $90,000 after acquiring an additional 298 shares in the last quarter. 88.88% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PEN. TheStreet raised Penumbra from a "d+" rating to a "c-" rating in a research note on Friday, January 12th. Piper Sandler reissued an "overweight" rating and set a $290.00 price objective on shares of Penumbra in a research report on Wednesday, April 3rd. JPMorgan Chase & Co. cut shares of Penumbra from an "overweight" rating to a "neutral" rating and cut their target price for the company from $284.00 to $250.00 in a research note on Friday, February 23rd. Royal Bank of Canada restated an "outperform" rating and issued a $289.00 price target on shares of Penumbra in a research report on Friday, February 23rd. Finally, Canaccord Genuity Group reaffirmed a "buy" rating and set a $284.00 price objective on shares of Penumbra in a research report on Friday, February 23rd. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Penumbra currently has an average rating of "Moderate Buy" and a consensus price target of $304.45.

Insiders Place Their Bets

In related news, Director Arani Bose sold 7,500 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $250.20, for a total value of $1,876,500.00. Following the sale, the director now owns 164,294 shares in the company, valued at approximately $41,106,358.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Arani Bose sold 7,500 shares of the company's stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $250.20, for a total value of $1,876,500.00. Following the transaction, the director now owns 164,294 shares of the company's stock, valued at $41,106,358.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Don W. Kassing sold 778 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $234.72, for a total transaction of $182,612.16. Following the sale, the director now owns 1,345 shares in the company, valued at $315,698.40. The disclosure for this sale can be found here. Insiders sold 9,648 shares of company stock worth $2,369,903 over the last ninety days. 5.00% of the stock is currently owned by corporate insiders.

Penumbra Price Performance

Shares of NYSE:PEN traded up $3.07 during midday trading on Monday, reaching $211.62. The company's stock had a trading volume of 317,626 shares, compared to its average volume of 344,109. The business's fifty day simple moving average is $222.48 and its 200-day simple moving average is $231.96. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.06 and a quick ratio of 3.49. Penumbra, Inc. has a fifty-two week low of $180.93 and a fifty-two week high of $348.67. The company has a market capitalization of $8.20 billion, a P/E ratio of 90.28, a P/E/G ratio of 2.06 and a beta of 0.57.

Penumbra (NYSE:PEN - Get Free Report) last posted its quarterly earnings data on Thursday, February 22nd. The company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.05. Penumbra had a net margin of 8.59% and a return on equity of 7.49%. The firm had revenue of $284.68 million during the quarter, compared to analysts' expectations of $286.62 million. During the same quarter last year, the company posted $0.16 EPS. The company's quarterly revenue was up 28.7% compared to the same quarter last year. As a group, equities research analysts expect that Penumbra, Inc. will post 2.85 EPS for the current fiscal year.

Penumbra 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.

Want to see what other hedge funds are holding PEN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Penumbra, Inc. (NYSE:PEN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.