Huntington National Bank Buys 154 Shares of Penumbra, Inc. (NYSE:PEN)

Huntington National Bank lifted its stake in Penumbra, Inc. (NYSE:PEN) by 138.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 265 shares of the company’s stock after buying an additional 154 shares during the quarter. Huntington National Bank’s holdings in Penumbra were worth $63,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. purchased a new stake in Penumbra in the 4th quarter worth approximately $573,000. State Street Corp boosted its position in shares of Penumbra by 0.3% in the third quarter. State Street Corp now owns 1,236,671 shares of the company’s stock worth $240,298,000 after purchasing an additional 3,863 shares during the period. E. Ohman J or Asset Management AB increased its stake in shares of Penumbra by 10.4% in the fourth quarter. E. Ohman J or Asset Management AB now owns 21,312 shares of the company’s stock worth $5,061,000 after purchasing an additional 2,000 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Penumbra by 1.4% during the 4th 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. Finally, Geode Capital Management LLC lifted its stake in shares of Penumbra by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 655,572 shares of the company’s stock valued at $127,417,000 after buying an additional 11,257 shares in the last quarter. 88.88% of the stock is owned by hedge funds and other institutional investors.

Penumbra Stock Up 0.5 %

Shares of PEN opened at $263.59 on Tuesday. The company has a quick ratio of 3.25, a current ratio of 6.01 and a debt-to-equity ratio of 0.02. The business has a fifty day moving average of $274.30 and a 200 day moving average of $246.41. The company has a market cap of $10.15 billion, a PE ratio of 775.25, a P/E/G ratio of 2.83 and a beta of 0.56. Penumbra, Inc. has a 52-week low of $148.00 and a 52-week high of $310.00.

Penumbra (NYSE:PEN) last released its quarterly earnings results on Tuesday, February 18th. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.09. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. The firm had revenue of $315.52 million during the quarter, compared to analysts’ expectations of $311.63 million. On average, sell-side analysts expect that Penumbra, Inc. will post 3.67 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Needham & Company LLC reissued a “hold” rating on shares of Penumbra in a report on Wednesday, February 19th. Wells Fargo & Company lifted their target price on Penumbra from $275.00 to $305.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Canaccord Genuity Group boosted their price target on Penumbra from $323.00 to $340.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Citigroup increased their price objective on shares of Penumbra from $220.00 to $245.00 and gave the company a “neutral” rating in a report on Wednesday, December 11th. Finally, Royal Bank of Canada boosted their target price on shares of Penumbra from $285.00 to $313.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $294.47.

Insider Buying and Selling

In related news, Director Thomas Wilder sold 360 shares of the firm’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $264.58, for a total value of $95,248.80. Following the transaction, the director now owns 4,533 shares of the company’s stock, valued at $1,199,341.14. This trade represents a 7.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Adam Elsesser sold 61,600 shares of Penumbra stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $283.59, for a total transaction of $17,469,144.00. Following the sale, the chief executive officer now owns 16,376 shares of the company’s stock, valued at $4,644,069.84. The trade was a 79.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 111,236 shares of company stock valued at $31,222,390. Insiders own 5.00% of the company’s stock.

Penumbra 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.