Cwm LLC Raises Stake in Penumbra, Inc. (NYSE:PEN)

Cwm LLC lifted its stake in Penumbra, Inc. (NYSE:PEN) by 215.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,550 shares of the company’s stock after purchasing an additional 1,059 shares during the period. Cwm LLC’s holdings in Penumbra were worth $279,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in PEN. Signaturefd LLC grew its stake in Penumbra by 27.2% in the 4th quarter. Signaturefd LLC now owns 215 shares of the company’s stock worth $54,000 after acquiring an additional 46 shares in the last quarter. Silvercrest Asset Management Group LLC grew its stake in Penumbra by 3.4% in the first quarter. Silvercrest Asset Management Group LLC now owns 1,680 shares of the company’s stock worth $375,000 after purchasing an additional 55 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in Penumbra by 171.8% in the fourth 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. M&T Bank Corp increased its holdings in Penumbra by 9.4% during the 4th quarter. M&T Bank Corp now owns 1,380 shares of the company’s stock worth $347,000 after purchasing an additional 118 shares during the period. Finally, Retirement Systems of Alabama raised its position in Penumbra by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 48,467 shares of the company’s stock valued at $10,817,000 after purchasing an additional 127 shares in the last quarter. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PEN. Morgan Stanley dropped their price target on Penumbra from $235.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Monday, July 15th. BTIG Research cut their target price on shares of Penumbra from $232.00 to $187.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Canaccord Genuity Group reduced their price target on shares of Penumbra from $272.00 to $176.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Royal Bank of Canada lowered their price target on shares of Penumbra from $289.00 to $205.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. Finally, Truist Financial reissued a “buy” rating and set a $200.00 price objective (down from $230.00) on shares of Penumbra in a report on Wednesday, July 31st. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $193.60.

Penumbra Stock Performance

Shares of PEN stock opened at $183.10 on Thursday. Penumbra, Inc. has a 12-month low of $148.00 and a 12-month high of $302.00. The business’s fifty day simple moving average is $181.49 and its 200-day simple moving average is $209.88. The company has a current ratio of 6.25, a quick ratio of 3.77 and a debt-to-equity ratio of 0.02. The company has a market cap of $7.11 billion, a PE ratio of 77.26, a PEG ratio of 1.90 and a beta of 0.55.

Penumbra (NYSE:PEN) last announced its earnings results on Tuesday, July 30th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.08. Penumbra had a return on equity of 8.39% and a net margin of 1.26%. The company had revenue of $299.40 million for the quarter, compared to analyst estimates of $298.24 million. During the same period in the prior year, the company posted $0.43 EPS. The firm’s quarterly revenue was up 14.5% compared to the same quarter last year. Analysts expect that Penumbra, Inc. will post 2.64 earnings per share for the current fiscal year.

Insider Activity at Penumbra

In other Penumbra news, CEO Adam Elsesser sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $200.98, for a total transaction of $3,014,700.00. Following the sale, the chief executive officer now owns 942,582 shares of the company’s stock, valued at approximately $189,440,130.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Penumbra news, CEO Adam Elsesser sold 15,000 shares of Penumbra stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $200.98, for a total transaction of $3,014,700.00. Following the completion of the sale, the chief executive officer now owns 942,582 shares of the company’s stock, valued at approximately $189,440,130.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Johanna Roberts sold 600 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $188.90, for a total value of $113,340.00. Following the sale, the executive vice president now owns 62,888 shares in the company, valued at approximately $11,879,543.20. The disclosure for this sale can be found here. Insiders sold 31,370 shares of company stock valued at $6,303,958 in the last three months. 5.00% of the stock is owned by insiders.

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.