Park Avenue Securities LLC Purchases 261 Shares of Penumbra, Inc. (NYSE:PEN)

Park Avenue Securities LLC grew its position in shares of Penumbra, Inc. (NYSE:PEN) by 18.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,665 shares of the company’s stock after buying an additional 261 shares during the quarter. Park Avenue Securities LLC’s holdings in Penumbra were worth $395,000 as of its most recent filing with the Securities & Exchange Commission.

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

Penumbra Trading Up 0.2 %

Shares of Penumbra stock opened at $274.25 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.82 and a quick ratio of 3.25. Penumbra, Inc. has a 1 year low of $148.00 and a 1 year high of $277.89. The firm has a market cap of $10.53 billion, a PE ratio of 318.89, a PEG ratio of 2.02 and a beta of 0.52. The company has a 50 day simple moving average of $247.22 and a two-hundred day simple moving average of $215.04.

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

Insider Activity

In other Penumbra news, CAO Lambert Shiu sold 1,798 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $242.56, for a total value of $436,122.88. Following the completion of the sale, the chief accounting officer now owns 20,682 shares of the company’s stock, valued at $5,016,625.92. This represents a 8.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $239.74, for a total transaction of $143,844.00. Following the transaction, the executive vice president now directly owns 64,044 shares in the company, valued at $15,353,908.56. This trade represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,819 shares of company stock worth $8,129,483. 5.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PEN. Oppenheimer assumed coverage on shares of Penumbra in a research note on Tuesday, December 17th. They set an “outperform” rating and a $275.00 price target for the company. Wells Fargo & Company raised Penumbra from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $190.00 to $275.00 in a research report on Wednesday, December 11th. Piper Sandler lifted their price objective on Penumbra from $235.00 to $250.00 and gave the stock an “overweight” rating in a report on Wednesday, November 20th. Truist Financial boosted their price objective on Penumbra from $240.00 to $285.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Finally, UBS Group initiated coverage on shares of Penumbra in a research report on Tuesday. They set a “buy” rating and a $305.00 target price for the company. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Penumbra currently has an average rating of “Moderate Buy” and an average price target of $261.36.

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.