Atria Investments Inc Invests $221,000 in Penumbra, Inc. (NYSE:PEN)

Atria Investments Inc purchased a new position in Penumbra, Inc. (NYSE:PEN) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 932 shares of the company’s stock, valued at approximately $221,000.

Other institutional investors also recently added to or reduced their stakes in the company. True Wealth Design LLC purchased a new stake in Penumbra in the 3rd quarter valued at about $26,000. UMB Bank n.a. raised its stake in shares of Penumbra by 57.4% during the fourth quarter. UMB Bank n.a. now owns 192 shares of the company’s stock valued at $46,000 after acquiring an additional 70 shares in the last quarter. Mather Group LLC. boosted its holdings in shares of Penumbra by 208.0% in the fourth quarter. Mather Group LLC. now owns 308 shares of the company’s stock valued at $73,000 after purchasing an additional 208 shares during the period. Jones Financial Companies Lllp grew its stake in Penumbra by 25.0% in the fourth quarter. Jones Financial Companies Lllp now owns 375 shares of the company’s stock worth $89,000 after purchasing an additional 75 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its holdings in Penumbra by 11.5% during the 3rd quarter. Advisors Asset Management Inc. now owns 416 shares of the company’s stock worth $81,000 after purchasing an additional 43 shares during the period. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on PEN. Needham & Company LLC reiterated a “hold” rating on shares of Penumbra in a report on Wednesday, February 19th. Bank of America assumed coverage on shares of Penumbra in a research note on Friday, March 14th. They issued a “buy” rating and a $320.00 price objective for the company. Robert W. Baird raised their target price on shares of Penumbra from $305.00 to $328.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. UBS Group boosted their price target on Penumbra from $305.00 to $320.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Finally, Piper Sandler reissued an “overweight” rating and set a $330.00 target price (up previously from $250.00) on shares of Penumbra in a research report on Wednesday, February 19th. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Penumbra currently has a consensus rating of “Moderate Buy” and an average price target of $294.47.

Insider Buying and Selling

In other 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 value of $3,644,400.00. Following the sale, the chief executive officer now owns 837,582 shares in the company, valued at $203,498,922.72. This represents a 1.76 % 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, Director Harpreet Grewal sold 167 shares of Penumbra 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 transaction, the director now owns 8,530 shares of the company’s stock, valued at approximately $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 sold a total of 79,918 shares of company stock valued at $22,054,293 over the last 90 days. Insiders own 5.00% of the company’s stock.

Penumbra Trading Down 0.2 %

Shares of NYSE:PEN opened at $275.40 on Wednesday. The company has a quick ratio of 3.25, a current ratio of 6.01 and a debt-to-equity ratio of 0.02. Penumbra, Inc. has a 52-week low of $148.00 and a 52-week high of $310.00. The stock has a market cap of $10.61 billion, a price-to-earnings ratio of 810.01, a PEG ratio of 2.83 and a beta of 0.51. The business has a 50-day moving average price of $271.17 and a 200-day moving average price of $238.92.

Penumbra (NYSE:PEN) last posted its quarterly earnings results on Tuesday, February 18th. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.09. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. The company had revenue of $315.52 million during the quarter, compared to analyst estimates of $311.63 million. Equities analysts predict that Penumbra, Inc. will post 3.67 EPS for the current year.

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.