UMB Bank n.a. Boosts Position in Penumbra, Inc. (NYSE:PEN)

UMB Bank n.a. boosted its position in shares of Penumbra, Inc. (NYSE:PEN) by 110.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 404 shares of the company’s stock after buying an additional 212 shares during the period. UMB Bank n.a.’s holdings in Penumbra were worth $108,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its holdings in shares of Penumbra by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 271,574 shares of the company’s stock valued at $64,493,000 after purchasing an additional 3,807 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Penumbra by 39.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 299,397 shares of the company’s stock valued at $71,831,000 after purchasing an additional 85,284 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in Penumbra in the fourth quarter valued at $3,553,000. HighTower Advisors LLC lifted its position in shares of Penumbra by 3.2% in the fourth quarter. HighTower Advisors LLC now owns 5,980 shares of the company’s stock valued at $1,420,000 after acquiring an additional 188 shares in the last quarter. Finally, Atria Investments Inc purchased a new stake in shares of Penumbra in the fourth quarter valued at $221,000. Institutional investors and hedge funds own 88.88% of the company’s stock.

Insider Activity

In other Penumbra news, Director Arani Bose sold 12,000 shares of the business’s stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $283.77, for a total value of $3,405,240.00. Following the completion of the sale, the director now owns 314,819 shares of the company’s stock, valued at $89,336,187.63. The trade was a 3.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Adam Elsesser sold 16,600 shares of the business’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $276.21, for a total value of $4,585,086.00. Following the completion of the sale, the chief executive officer now directly owns 27,752 shares of the company’s stock, valued at $7,665,379.92. This represents a 37.43% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 128,845 shares of company stock worth $36,359,981. 4.20% of the stock is owned by corporate insiders.

Penumbra Stock Down 0.2%

Shares of PEN stock opened at $252.80 on Friday. Penumbra, Inc. has a 1 year low of $148.00 and a 1 year high of $310.00. The stock has a market cap of $9.79 billion, a PE ratio of 743.53, a price-to-earnings-growth ratio of 2.83 and a beta of 0.49. The business’s fifty day moving average is $275.71 and its 200-day moving average is $267.06. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.25 and a current ratio of 6.01.

Penumbra (NYSE:PEN) last issued 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. The business had revenue of $324.14 million for the quarter, compared to analysts’ expectations of $315.72 million. Penumbra had a return on equity of 9.74% and a net margin of 1.17%. The company’s quarterly revenue was up 16.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.41 EPS. Equities analysts expect that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently weighed in on PEN. Morgan Stanley increased their target price on Penumbra from $240.00 to $260.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 19th. Piper Sandler reiterated an “overweight” rating and issued a $330.00 target price (up previously from $250.00) on shares of Penumbra in a research note on Wednesday, February 19th. Canaccord Genuity Group increased their target price on Penumbra from $323.00 to $340.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Stifel Nicolaus set a $318.00 price objective on Penumbra and gave the company a “buy” rating in a research note on Thursday, April 24th. Finally, Bank of America assumed coverage on Penumbra in a report on Friday, March 14th. They set a “buy” rating and a $320.00 target price on the stock. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $302.40.

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.