Thurston Springer Miller Herd & Titak Inc. Makes New $554,000 Investment in Penumbra, Inc. $PEN

Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Penumbra, Inc. (NYSE:PEN) in the 4th quarter, HoldingsChannel reports. The fund purchased 1,781 shares of the company’s stock, valued at approximately $554,000.

A number of other institutional investors have also modified their holdings of PEN. Mather Group LLC. purchased a new position in shares of Penumbra in the 3rd quarter worth approximately $25,000. Newbridge Financial Services Group Inc. purchased a new stake in Penumbra during the second quarter valued at approximately $30,000. Rothschild Investment LLC acquired a new stake in Penumbra in the third quarter valued at approximately $40,000. Covestor Ltd boosted its stake in Penumbra by 53.0% in the third quarter. Covestor Ltd now owns 179 shares of the company’s stock valued at $46,000 after acquiring an additional 62 shares in the last quarter. Finally, Allworth Financial LP grew its holdings in Penumbra by 36.2% in the third quarter. Allworth Financial LP now owns 241 shares of the company’s stock worth $61,000 after purchasing an additional 64 shares during the last quarter. 88.88% of the stock is currently owned by institutional investors.

Insider Activity

In other Penumbra news, Director Harpreet Grewal sold 186 shares of the business’s stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $312.64, for a total transaction of $58,151.04. Following the sale, the director owned 8,230 shares in the company, valued at approximately $2,573,027.20. The trade was a 2.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Maggie Yuen sold 2,432 shares of the stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $342.30, for a total value of $832,473.60. Following the completion of the transaction, the chief financial officer directly owned 18,353 shares in the company, valued at $6,282,231.90. This represents a 11.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 4.20% of the stock is currently owned by insiders.

Penumbra Trading Down 0.1%

NYSE PEN opened at $330.07 on Friday. Penumbra, Inc. has a 12-month low of $221.26 and a 12-month high of $362.41. The company has a fifty day simple moving average of $340.48 and a two-hundred day simple moving average of $304.10. The company has a current ratio of 6.64, a quick ratio of 4.29 and a debt-to-equity ratio of 0.01. The stock has a market cap of $12.95 billion, a P/E ratio of 73.02, a P/E/G ratio of 2.03 and a beta of 0.84.

Penumbra (NYSE:PEN) last announced its quarterly earnings data on Wednesday, February 25th. The company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of $1.12 by ($1.49). Penumbra had a net margin of 12.66% and a return on equity of 11.41%. The company had revenue of $385.39 million for the quarter, compared to analysts’ expectations of $367.18 million. During the same period last year, the firm earned $0.97 earnings per share. Penumbra’s quarterly revenue was up 22.2% compared to the same quarter last year. On average, analysts forecast that Penumbra, Inc. will post 3.67 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on PEN shares. Canaccord Genuity Group lowered Penumbra from a “buy” rating to a “hold” rating and increased their price objective for the company from $359.00 to $374.00 in a report on Tuesday, January 20th. Wells Fargo & Company restated an “equal weight” rating and set a $374.00 target price on shares of Penumbra in a research note on Thursday, January 15th. Bank of America upped their target price on Penumbra from $320.00 to $370.00 and gave the company a “buy” rating in a research report on Monday, January 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Penumbra in a research note on Monday, December 29th. Finally, Citigroup downgraded Penumbra from a “buy” rating to a “neutral” rating and raised their price target for the stock from $350.00 to $374.00 in a report on Thursday, January 15th. Four equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $361.69.

About Penumbra

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.