PNC Financial Services Group Inc. Has $411,000 Stock Position in Penumbra, Inc. (NYSE:PEN)

PNC Financial Services Group Inc. lessened its holdings in Penumbra, Inc. (NYSE:PEN) by 5.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,633 shares of the company’s stock after selling 90 shares during the period. PNC Financial Services Group Inc.’s holdings in Penumbra were worth $411,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Benjamin F. Edwards & Company Inc. raised its holdings in Penumbra by 171.8% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 106 shares of the company’s stock valued at $27,000 after buying an additional 67 shares in the last quarter. Signaturefd LLC raised its stake in shares of Penumbra by 27.2% in the 4th quarter. Signaturefd LLC now owns 215 shares of the company’s stock valued at $54,000 after acquiring an additional 46 shares in the last quarter. Quest Partners LLC bought a new stake in Penumbra during the fourth quarter worth approximately $71,000. Picton Mahoney Asset Management acquired a new position in Penumbra during the fourth quarter valued at approximately $88,000. Finally, Nisa Investment Advisors LLC raised its position in shares of Penumbra by 496.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 358 shares of the company’s stock valued at $90,000 after purchasing an additional 298 shares during the period. 88.88% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on PEN. Needham & Company LLC reiterated a “hold” rating on shares of Penumbra in a research note on Wednesday, May 8th. Piper Sandler dropped their price objective on Penumbra from $290.00 to $260.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 8th. Truist Financial decreased their target price on Penumbra from $290.00 to $280.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. Finally, Canaccord Genuity Group dropped their price target on Penumbra from $284.00 to $272.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $293.10.

Penumbra Trading Up 2.9 %

Shares of PEN stock opened at $179.97 on Friday. The firm has a fifty day moving average of $194.50 and a 200-day moving average of $226.03. The stock has a market cap of $6.98 billion, a price-to-earnings ratio of 75.94, a P/E/G ratio of 1.77 and a beta of 0.59. Penumbra, Inc. has a 52-week low of $170.59 and a 52-week high of $348.67. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.51 and a current ratio of 6.12.

Penumbra (NYSE:PEN) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). Penumbra had a return on equity of 7.83% and a net margin of 8.52%. The business had revenue of $278.70 million for the quarter, compared to the consensus estimate of $274.94 million. During the same quarter in the prior year, the business earned $0.23 EPS. The firm’s revenue for the quarter was up 15.5% on a year-over-year basis. On average, equities research analysts forecast that Penumbra, Inc. will post 2.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Johanna Roberts sold 600 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $217.07, for a total value of $130,242.00. Following the sale, the executive vice president now owns 64,281 shares of the company’s stock, valued at approximately $13,953,476.67. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $217.07, for a total value of $130,242.00. Following the completion of the transaction, the executive vice president now owns 64,281 shares in the company, valued at $13,953,476.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Don W. Kassing sold 170 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $223.18, for a total value of $37,940.60. Following the sale, the director now owns 1,175 shares in the company, valued at $262,236.50. The disclosure for this sale can be found here. Insiders sold 16,970 shares of company stock worth $3,420,669 over the last three months. 5.00% of the stock is currently owned by corporate 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.