M&T Bank Corp Has $281,000 Stock Position in Penumbra, Inc. (NYSE:PEN)

M&T Bank Corp increased its stake in shares of Penumbra, Inc. (NYSE:PEN) by 14.1% in the third quarter, Holdings Channel reports. The firm owned 1,445 shares of the company’s stock after buying an additional 179 shares during the quarter. M&T Bank Corp’s holdings in Penumbra were worth $281,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. True Wealth Design LLC bought a new stake in shares of Penumbra in the 3rd quarter valued at about $26,000. GAMMA Investing LLC boosted its stake in Penumbra by 111.1% during the 3rd quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock worth $33,000 after acquiring an additional 90 shares during the last quarter. Park Place Capital Corp grew its holdings in Penumbra by 1,473.9% during the third quarter. Park Place Capital Corp now owns 362 shares of the company’s stock valued at $70,000 after purchasing an additional 339 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in Penumbra by 1,845.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 389 shares of the company’s stock valued at $70,000 after purchasing an additional 369 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its position in shares of Penumbra by 11.5% during the third quarter. Advisors Asset Management Inc. now owns 416 shares of the company’s stock worth $81,000 after purchasing an additional 43 shares in the last quarter. Institutional investors and hedge funds own 88.88% of the company’s stock.

Analysts Set New Price Targets

PEN has been the subject of a number of recent analyst reports. Truist Financial upped their price objective on shares of Penumbra from $240.00 to $285.00 and gave the company a “buy” rating in a research report on Wednesday. Robert W. Baird boosted their target price on Penumbra from $244.00 to $248.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Oppenheimer assumed coverage on Penumbra in a research report on Tuesday. They set an “outperform” rating and a $275.00 price target on the stock. Canaccord Genuity Group boosted their price objective on Penumbra from $260.00 to $323.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Finally, BTIG Research raised their target price on shares of Penumbra from $232.00 to $270.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Penumbra has a consensus rating of “Moderate Buy” and a consensus target price of $258.00.

Penumbra Stock Up 1.9 %

Shares of PEN stock opened at $243.52 on Friday. Penumbra, Inc. has a 1 year low of $148.00 and a 1 year high of $277.34. The firm has a market capitalization of $9.35 billion, a P/E ratio of 283.16, a PEG ratio of 2.47 and a beta of 0.51. The company has a current ratio of 5.82, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02. The firm’s fifty day moving average price is $231.36 and its two-hundred day moving average price is $203.22.

Penumbra (NYSE:PEN) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.16. The firm had revenue of $301.04 million for the quarter, compared to analyst estimates of $297.36 million. Penumbra had a net margin of 2.97% and a return on equity of 8.99%. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.67 earnings per share. On average, equities analysts predict that Penumbra, Inc. will post 2.81 EPS for the current fiscal year.

Insider Buying and Selling at Penumbra

In other Penumbra news, EVP Johanna Roberts sold 600 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $190.76, for a total transaction of $114,456.00. Following the transaction, the executive vice president now owns 60,488 shares in the company, valued at $11,538,690.88. This represents a 0.98 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Adam Elsesser sold 15,000 shares of the stock in a transaction on Monday, October 21st. The stock was sold at an average price of $204.56, for a total value of $3,068,400.00. Following the sale, the chief executive officer now directly owns 867,582 shares in the company, valued at approximately $177,472,573.92. This trade represents a 1.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,418 shares of company stock worth $7,659,323 over the last 90 days. Company 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.