Titleist Asset Management LLC Invests $251,000 in Penumbra, Inc. (NYSE:PEN)

Titleist Asset Management LLC acquired a new stake in shares of Penumbra, Inc. (NYSE:PEN) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 900 shares of the company’s stock, valued at approximately $251,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of PEN. Captrust Financial Advisors grew its holdings in shares of Penumbra by 44.1% during the second quarter. Captrust Financial Advisors now owns 219 shares of the company’s stock valued at $27,000 after purchasing an additional 67 shares during the last quarter. Altshuler Shaham Ltd bought a new position in Penumbra during the 4th quarter worth $27,000. Massmutual Trust Co. FSB ADV grew its stake in Penumbra by 116.0% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 108 shares of the company’s stock worth $30,000 after buying an additional 58 shares during the last quarter. Belpointe Asset Management LLC acquired a new stake in Penumbra in the fourth quarter worth $32,000. Finally, Fifth Third Bancorp boosted its holdings in shares of Penumbra by 21.5% during the first quarter. Fifth Third Bancorp now owns 271 shares of the company’s stock valued at $76,000 after acquiring an additional 48 shares during the period. Institutional investors and hedge funds own 88.18% of the company’s stock.

Insider Activity

In other Penumbra news, EVP Johanna Roberts sold 900 shares of the business’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $340.18, for a total transaction of $306,162.00. Following the sale, the executive vice president now owns 65,437 shares in the company, valued at approximately $22,260,358.66. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, EVP Johanna Roberts sold 900 shares of Penumbra stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $340.18, for a total value of $306,162.00. Following the transaction, the executive vice president now directly owns 65,437 shares of the company’s stock, valued at $22,260,358.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Adam Elsesser sold 9,666 shares of the company’s stock in a transaction that occurred on Tuesday, July 11th. The shares were sold at an average price of $322.98, for a total transaction of $3,121,924.68. The disclosure for this sale can be found here. Insiders sold a total of 32,249 shares of company stock valued at $9,328,627 over the last three months. Insiders own 5.30% of the company’s stock.

Penumbra Stock Performance

Shares of PEN opened at $279.05 on Thursday. Penumbra, Inc. has a 12-month low of $144.76 and a 12-month high of $348.67. The stock has a market capitalization of $10.73 billion, a P/E ratio of 377.09 and a beta of 0.54. The firm’s 50 day moving average is $280.71 and its 200-day moving average is $291.00. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.74 and a quick ratio of 3.25.

Penumbra (NYSE:PEN) last posted its quarterly earnings results on Tuesday, August 1st. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.15. The company had revenue of $261.50 million for the quarter, compared to analysts’ expectations of $253.59 million. Penumbra had a return on equity of 3.16% and a net margin of 3.11%. The firm’s revenue was up 25.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.01 earnings per share. Equities research analysts anticipate that Penumbra, Inc. will post 1.75 EPS for the current fiscal year.

Analyst Ratings Changes

PEN has been the subject of a number of analyst reports. Truist Financial reduced their target price on shares of Penumbra from $370.00 to $345.00 and set a “buy” rating for the company in a research note on Wednesday, August 2nd. Deutsche Bank Aktiengesellschaft raised their target price on Penumbra from $325.00 to $376.00 in a research report on Monday, June 26th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $349.00 target price on shares of Penumbra in a research note on Thursday, August 17th. BTIG Research decreased their price target on Penumbra from $351.00 to $308.00 in a research note on Wednesday, August 2nd. Finally, Robert W. Baird began coverage on shares of Penumbra in a research note on Tuesday, July 18th. They set an “outperform” rating and a $375.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $324.38.

About Penumbra

Penumbra, Inc, together with its subsidiairies, designs, develops, manufactures, and markets medical devices in the United States and internationally. The company offers aspiration based thrombectomy systems and accessory devices, including revascularization device for mechanical thrombectomy, such as Penumbra System under the Penumbra RED, JET, ACE, 3D Revascularization Device, and Penumbra ENGINE brands, as well as components and accessories; neurovascular embolization coiling systems to treat patients with various sizes of aneurysms and other neurovascular lesions under the Penumbra Coil 400, POD400, PAC400, and Penumbra SMART Coil brand names; and neurovascular access systems designed to provide intracranial access for use in a range of neurovascular therapies under the Neuron, Neuron MAX, Select, BENCHMARK, BMX96, DDC, SENDit, and PX SLIM brands.