MML Investors Services LLC Has $270,000 Holdings in Penumbra, Inc. (NYSE:PEN)

MML Investors Services LLC decreased its position in shares of Penumbra, Inc. (NYSE:PEN) by 7.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,390 shares of the company’s stock after selling 118 shares during the period. MML Investors Services LLC’s holdings in Penumbra were worth $270,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of PEN. Bank of New York Mellon Corp lifted its position in shares of Penumbra by 1.5% during the second quarter. Bank of New York Mellon Corp now owns 327,312 shares of the company’s stock worth $58,906,000 after purchasing an additional 4,814 shares in the last quarter. Hantz Financial Services Inc. acquired a new position in Penumbra during the 2nd quarter worth $9,810,000. Commonwealth Equity Services LLC bought a new position in Penumbra in the 2nd quarter valued at $215,000. nVerses Capital LLC acquired a new stake in shares of Penumbra in the 2nd quarter valued at $396,000. Finally, Natixis Advisors LLC bought a new stake in shares of Penumbra during the second quarter worth $3,423,000. Institutional investors and hedge funds own 88.88% of the company’s stock.

Analysts Set New Price Targets

PEN has been the topic of several recent research reports. Leerink Partnrs upgraded Penumbra to a “strong-buy” rating in a report on Tuesday, September 3rd. Truist Financial raised their target price on shares of Penumbra from $240.00 to $285.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Canaccord Genuity Group boosted their price target on shares of Penumbra from $260.00 to $323.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Piper Sandler raised their price objective on shares of Penumbra from $235.00 to $250.00 and gave the company an “overweight” rating in a research note on Wednesday, November 20th. Finally, BTIG Research upped their target price on shares of Penumbra from $232.00 to $270.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $258.00.

Penumbra Stock Performance

Shares of PEN opened at $240.36 on Thursday. The firm has a market cap of $9.22 billion, a P/E ratio of 279.49, a PEG ratio of 2.47 and a beta of 0.51. Penumbra, Inc. has a twelve month low of $148.00 and a twelve month high of $277.34. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.25 and a current ratio of 5.82. The firm’s 50 day moving average price is $233.41 and its two-hundred day moving average price is $204.44.

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

Insider Activity at Penumbra

In related news, CEO Adam Elsesser sold 15,000 shares of the company’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $242.96, for a total transaction of $3,644,400.00. Following the sale, the chief executive officer now owns 837,582 shares in the company, valued at approximately $203,498,922.72. This represents a 1.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Harpreet Grewal sold 166 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $190.83, for a total value of $31,677.78. Following the completion of the transaction, the director now owns 8,697 shares of the company’s stock, valued at approximately $1,659,648.51. This represents a 1.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 49,418 shares of company stock valued at $11,303,723. 5.00% of the stock is owned by insiders.

About Penumbra

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.