Commerce Bank Takes $1.17 Million Position in Penumbra, Inc. $PEN

Commerce Bank purchased a new stake in Penumbra, Inc. (NYSE:PEN) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 3,707 shares of the company’s stock, valued at approximately $1,170,000.

Other large investors also recently added to or reduced their stakes in the company. Hsbc Holdings PLC lifted its stake in shares of Penumbra by 2.3% in the 4th quarter. Hsbc Holdings PLC now owns 1,527 shares of the company’s stock valued at $475,000 after purchasing an additional 35 shares during the last quarter. Farther Finance Advisors LLC increased its position in shares of Penumbra by 27.1% during the 4th quarter. Farther Finance Advisors LLC now owns 178 shares of the company’s stock valued at $55,000 after purchasing an additional 38 shares during the last quarter. Swiss Life Asset Management Ltd increased its position in shares of Penumbra by 2.3% during the 4th quarter. Swiss Life Asset Management Ltd now owns 1,728 shares of the company’s stock valued at $537,000 after purchasing an additional 39 shares during the last quarter. Keybank National Association OH raised its holdings in Penumbra by 1.2% during the 4th quarter. Keybank National Association OH now owns 3,705 shares of the company’s stock valued at $1,152,000 after buying an additional 43 shares during the period. Finally, UMB Bank n.a. raised its holdings in Penumbra by 11.3% during the 4th quarter. UMB Bank n.a. now owns 442 shares of the company’s stock valued at $137,000 after buying an additional 45 shares during the period. 88.88% of the stock is owned by institutional investors.

Penumbra Trading Up 0.3%

NYSE PEN opened at $324.61 on Wednesday. The stock has a market cap of $12.79 billion, a PE ratio of 79.76, a PEG ratio of 2.01 and a beta of 0.70. Penumbra, Inc. has a 12 month low of $221.26 and a 12 month high of $362.41. The company’s 50-day moving average price is $320.38 and its 200-day moving average price is $327.16. The company has a current ratio of 5.75, a quick ratio of 3.86 and a debt-to-equity ratio of 0.01.

Penumbra (NYSE:PEN) last announced its quarterly earnings data on Thursday, July 30th. The company reported $0.88 earnings per share for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.28). The company had revenue of $390.05 million for the quarter, compared to the consensus estimate of $389.64 million. Penumbra had a net margin of 10.67% and a return on equity of 10.50%. The company’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.86 EPS. Equities research analysts forecast that Penumbra, Inc. will post 5.02 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on PEN. Evercore reaffirmed an “outperform” rating and set a $320.00 price objective on shares of Penumbra in a research note on Monday, July 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Penumbra in a research note on Friday, July 17th. Zacks Research lowered shares of Penumbra from a “hold” rating to a “strong sell” rating in a report on Monday, June 29th. Wall Street Zen upgraded shares of Penumbra to a “hold” rating in a report on Saturday, May 9th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $374.00 price objective on shares of Penumbra in a research note on Thursday, June 11th. Three analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $367.07.

Penumbra Profile

Penumbra, Inc is a global healthcare company specializing in the development and manufacture of innovative medical devices that address neurovascular and peripheral vascular conditions. The company focuses on products designed to improve patient outcomes in acute ischemic stroke, aneurysm treatment and peripheral thrombectomy. Penumbra’s technologies are used by interventional neuroradiologists, neurosurgeons and interventional cardiologists in hospitals and clinics around the world.

At the core of Penumbra’s portfolio is its mechanical thrombectomy platform, which includes aspiration catheters and accessory devices engineered to remove blood clots in acute stroke cases.