HighTower Advisors LLC Has $1.42 Million Position in Penumbra, Inc. (NYSE:PEN)

HighTower Advisors LLC lifted its position in shares of Penumbra, Inc. (NYSE:PEN) by 3.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,980 shares of the company’s stock after acquiring an additional 188 shares during the period. HighTower Advisors LLC’s holdings in Penumbra were worth $1,420,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Janus Henderson Group PLC increased its position in Penumbra by 128.1% during the 3rd quarter. Janus Henderson Group PLC now owns 668,873 shares of the company’s stock worth $129,967,000 after purchasing an additional 375,684 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new stake in shares of Penumbra during the third quarter worth $31,965,000. Braidwell LP increased its holdings in shares of Penumbra by 70.0% during the third quarter. Braidwell LP now owns 361,428 shares of the company’s stock worth $70,229,000 after buying an additional 148,834 shares in the last quarter. Baillie Gifford & Co. lifted its stake in shares of Penumbra by 23.4% in the 4th quarter. Baillie Gifford & Co. now owns 730,233 shares of the company’s stock valued at $173,416,000 after acquiring an additional 138,387 shares during the last quarter. Finally, FMR LLC lifted its stake in shares of Penumbra by 2.1% in the 3rd quarter. FMR LLC now owns 5,896,396 shares of the company’s stock valued at $1,145,729,000 after acquiring an additional 121,465 shares during the last quarter. Institutional investors and hedge funds own 88.88% of the company’s stock.

Penumbra Stock Up 2.0 %

Penumbra stock opened at $286.09 on Tuesday. The firm has a market capitalization of $11.02 billion, a P/E ratio of 841.45, a P/E/G ratio of 2.83 and a beta of 0.51. The company has a current ratio of 6.01, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02. Penumbra, Inc. has a twelve month low of $148.00 and a twelve month high of $310.00. The stock’s fifty day simple moving average is $273.48 and its 200-day simple moving average is $241.14.

Penumbra (NYSE:PEN) last released its quarterly earnings data on Tuesday, February 18th. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.09. The business had revenue of $315.52 million for the quarter, compared to the consensus estimate of $311.63 million. Penumbra had a return on equity of 9.74% and a net margin of 1.17%. As a group, equities analysts expect that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PEN. Piper Sandler reiterated an “overweight” rating and issued a $330.00 price objective (up previously from $250.00) on shares of Penumbra in a report on Wednesday, February 19th. Wells Fargo & Company increased their target price on shares of Penumbra from $275.00 to $305.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. Citigroup raised their price objective on shares of Penumbra from $220.00 to $245.00 and gave the company a “neutral” rating in a research note on Wednesday, December 11th. BTIG Research raised their price target 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. Finally, Canaccord Genuity Group increased their price target on Penumbra from $323.00 to $340.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $294.47.

Insider Activity

In other news, CEO Adam Elsesser sold 16,600 shares of the business’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $276.21, for a total transaction of $4,585,086.00. Following the transaction, the chief executive officer now directly owns 27,752 shares in the company, valued at $7,665,379.92. The trade was a 37.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Harpreet Grewal sold 167 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $241.28, for a total value of $40,293.76. Following the completion of the sale, the director now directly owns 8,530 shares of the company’s stock, valued at $2,058,118.40. This represents a 1.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 81,518 shares of company stock valued at $22,994,979 in the last ninety days. 5.00% of the stock is currently owned by company 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.