Penumbra, Inc. (NYSE:PEN) Shares Bought by Silvercrest Asset Management Group LLC

Silvercrest Asset Management Group LLC boosted its position in shares of Penumbra, Inc. (NYSE:PEN) by 205.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,627 shares of the company’s stock after buying an additional 6,474 shares during the period. Silvercrest Asset Management Group LLC’s holdings in Penumbra were worth $2,286,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in PEN. Norges Bank acquired a new position in Penumbra during the fourth quarter worth approximately $54,396,000. T. Rowe Price Investment Management Inc. grew its stake in shares of Penumbra by 47.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 707,061 shares of the company’s stock valued at $167,913,000 after purchasing an additional 227,506 shares during the last quarter. Baillie Gifford & Co. increased its holdings in shares of Penumbra by 23.4% in the fourth quarter. Baillie Gifford & Co. now owns 730,233 shares of the company’s stock valued at $173,416,000 after purchasing an additional 138,387 shares during the period. Adage Capital Partners GP L.L.C. acquired a new position in shares of Penumbra in the fourth quarter valued at approximately $23,866,000. Finally, Baird Financial Group Inc. increased its holdings in shares of Penumbra by 43.9% in the fourth quarter. Baird Financial Group Inc. now owns 280,198 shares of the company’s stock valued at $66,541,000 after purchasing an additional 85,542 shares during the period. Institutional investors and hedge funds own 88.88% of the company’s stock.

Penumbra Stock Up 0.1%

Penumbra stock opened at $280.89 on Tuesday. The stock’s 50 day moving average price is $279.66 and its 200 day moving average price is $264.29. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.01 and a quick ratio of 3.25. The company has a market cap of $10.88 billion, a PE ratio of 826.15, a price-to-earnings-growth ratio of 2.83 and a beta of 0.53. Penumbra, Inc. has a 1-year low of $148.00 and a 1-year high of $310.00.

Penumbra (NYSE:PEN) last posted its earnings results on Wednesday, April 23rd. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.17. The company had revenue of $324.14 million for the quarter, compared to the consensus estimate of $315.72 million. Penumbra had a return on equity of 9.74% and a net margin of 1.17%. Penumbra’s quarterly revenue was up 16.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.41 earnings per share. On average, sell-side analysts predict that Penumbra, Inc. will post 3.67 EPS for the current fiscal year.

Insiders Place Their Bets

In other Penumbra news, Director Bridget O’rourke sold 100 shares of the business’s stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $286.15, for a total transaction of $28,615.00. Following the sale, the director now directly owns 5,423 shares in the company, valued at approximately $1,551,791.45. The trade was a 1.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Johanna Roberts sold 600 shares of the business’s stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $300.01, for a total value of $180,006.00. Following the sale, the executive vice president now owns 66,159 shares in the company, valued at approximately $19,848,361.59. The trade was a 0.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 176,696 shares of company stock worth $50,207,745. 4.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

PEN has been the topic of a number of recent research reports. BTIG Research reissued a “buy” rating on shares of Penumbra in a report on Thursday, April 24th. Bank of America initiated coverage on Penumbra in a report on Friday, March 14th. They issued a “buy” rating and a $320.00 target price on the stock. Needham & Company LLC reissued a “hold” rating on shares of Penumbra in a report on Wednesday, February 19th. Piper Sandler reissued an “overweight” rating and issued a $330.00 target price (up previously from $250.00) on shares of Penumbra in a report on Wednesday, February 19th. Finally, Royal Bank of Canada boosted 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. Three research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $302.40.

Penumbra Company 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.