Canandaigua National Bank & Trust Co. Invests $258,000 in Penumbra, Inc. (NYSE:PEN)

Canandaigua National Bank & Trust Co. purchased a new position in Penumbra, Inc. (NYSE:PEN) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 1,434 shares of the company’s stock, valued at approximately $258,000.

Other hedge funds also recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. raised its holdings in Penumbra by 171.8% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 106 shares of the company’s stock worth $27,000 after buying an additional 67 shares during the last quarter. Mather Group LLC. purchased a new stake in shares of Penumbra during the 1st quarter valued at about $29,000. Signaturefd LLC grew its stake in shares of Penumbra by 27.2% in the fourth quarter. Signaturefd LLC now owns 215 shares of the company’s stock worth $54,000 after acquiring an additional 46 shares during the period. Quest Partners LLC bought a new position in Penumbra during the fourth quarter valued at approximately $71,000. Finally, Picton Mahoney Asset Management bought a new stake in Penumbra in the 4th quarter worth approximately $88,000. Institutional investors own 88.88% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Citigroup lowered Penumbra from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $165.00 to $178.00 in a report on Wednesday, July 31st. Morgan Stanley lowered their price objective on shares of Penumbra from $235.00 to $210.00 and set an “equal weight” rating on the stock in a research note on Monday, July 15th. Truist Financial restated a “buy” rating and set a $200.00 target price (down from $230.00) on shares of Penumbra in a research report on Wednesday, July 31st. Canaccord Genuity Group cut their price objective on shares of Penumbra from $272.00 to $176.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Finally, Royal Bank of Canada decreased their target price on Penumbra from $289.00 to $205.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $193.60.

Penumbra Price Performance

Shares of NYSE:PEN traded up $0.65 during trading on Friday, hitting $170.03. 294,006 shares of the company’s stock were exchanged, compared to its average volume of 375,134. The business’s 50-day simple moving average is $182.15 and its 200 day simple moving average is $211.64. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.25 and a quick ratio of 3.51. Penumbra, Inc. has a 52-week low of $148.00 and a 52-week high of $302.00. The company has a market cap of $6.59 billion, a price-to-earnings ratio of 71.74, a PEG ratio of 1.85 and a beta of 0.55.

Penumbra (NYSE:PEN) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.08. Penumbra had a net margin of 1.26% and a return on equity of 8.39%. The company had revenue of $299.40 million for the quarter, compared to the consensus estimate of $298.24 million. During the same period in the previous year, the firm posted $0.43 EPS. Penumbra’s revenue for the quarter was up 14.5% compared to the same quarter last year. As a group, equities analysts predict that Penumbra, Inc. will post 2.74 EPS for the current year.

Insider Buying and Selling at Penumbra

In other news, CEO Adam Elsesser sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $202.52, for a total transaction of $3,037,800.00. Following the sale, the chief executive officer now directly owns 927,582 shares of the company’s stock, valued at approximately $187,853,906.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Adam Elsesser sold 15,000 shares of the firm’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $202.52, for a total value of $3,037,800.00. Following the completion of the sale, the chief executive officer now directly owns 927,582 shares in the company, valued at $187,853,906.64. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Don W. Kassing sold 170 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $179.99, for a total transaction of $30,598.30. Following the completion of the sale, the director now directly owns 1,005 shares in the company, valued at $180,889.95. The disclosure for this sale can be found here. Insiders sold 31,970 shares of company stock worth $6,428,404 in the last quarter. 5.00% of the stock is 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.