Commerce Bank Acquires New Holdings in Penumbra, Inc. (NYSE:PEN)

Commerce Bank acquired a new stake in shares of Penumbra, Inc. (NYSE:PEN - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The fund acquired 1,160 shares of the company's stock, valued at approximately $275,000.

Other hedge funds also recently made changes to their positions in the company. Farringdon Capital Ltd. bought a new position in shares of Penumbra in the fourth quarter worth about $632,000. Marshall Wace LLP boosted its stake in Penumbra by 2,312.3% in the 4th quarter. Marshall Wace LLP now owns 43,952 shares of the company's stock worth $10,438,000 after purchasing an additional 42,130 shares during the period. XTX Topco Ltd grew its holdings in Penumbra by 111.3% during the 4th quarter. XTX Topco Ltd now owns 5,664 shares of the company's stock valued at $1,345,000 after buying an additional 2,984 shares in the last quarter. Mariner LLC raised its position in shares of Penumbra by 5.2% during the fourth quarter. Mariner LLC now owns 9,356 shares of the company's stock valued at $2,222,000 after buying an additional 464 shares during the last quarter. Finally, Barclays PLC lifted its holdings in shares of Penumbra by 65.3% in the fourth quarter. Barclays PLC now owns 29,796 shares of the company's stock worth $7,076,000 after buying an additional 11,771 shares in the last quarter. 88.88% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Penumbra

In related news, Director Thomas Wilder sold 360 shares of the business's stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $264.58, for a total value of $95,248.80. Following the completion of the sale, the director now owns 4,533 shares in the company, valued at approximately $1,199,341.14. The trade was a 7.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Lambert Shiu sold 501 shares of the firm's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $282.88, for a total value of $141,722.88. Following the transaction, the chief accounting officer now owns 32,969 shares in the company, valued at $9,326,270.72. The trade was a 1.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 128,446 shares of company stock valued at $35,959,193 in the last quarter. 5.00% of the stock is owned by insiders.

Penumbra Trading Up 0.8 %

Shares of PEN stock traded up $2.25 during trading hours on Friday, reaching $300.50. 608,778 shares of the stock were exchanged, compared to its average volume of 424,593. The firm has a market capitalization of $11.64 billion, a price-to-earnings ratio of 883.82, a price-to-earnings-growth ratio of 2.83 and a beta of 0.56. Penumbra, Inc. has a 12-month low of $148.00 and a 12-month high of $310.00. The company's 50-day moving average price is $276.99 and its 200-day moving average price is $254.78. The company has a current ratio of 6.01, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02.

Penumbra (NYSE:PEN - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.17. Penumbra had a return on equity of 9.74% and a net margin of 1.17%. The business had revenue of $324.14 million during the quarter, compared to analyst estimates of $315.72 million. As a group, equities analysts anticipate that Penumbra, Inc. will post 3.67 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. BTIG Research reaffirmed a "buy" rating on shares of Penumbra in a research note on Thursday. Morgan Stanley lifted their target price on Penumbra from $240.00 to $260.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 19th. Needham & Company LLC reiterated a "hold" rating on shares of Penumbra in a research report on Wednesday, February 19th. Bank of America began coverage on Penumbra in a research note on Friday, March 14th. They issued a "buy" rating and a $320.00 price objective on the stock. Finally, Royal Bank of Canada increased their target price on Penumbra from $315.00 to $330.00 and gave the company an "outperform" rating in a research report on Thursday. Three investment 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 company's stock. According to MarketBeat, Penumbra presently has an average rating of "Moderate Buy" and an average 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.