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

MML Investors Services LLC trimmed its position in Penumbra, Inc. (NYSE:PEN) by 7.8% during the third quarter, Holdings Channel reports. The firm owned 1,390 shares of the company’s stock after selling 118 shares during the quarter. MML Investors Services LLC’s holdings in Penumbra were worth $270,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. True Wealth Design LLC bought a new stake in Penumbra in the third quarter valued at approximately $26,000. GAMMA Investing LLC raised its stake in Penumbra by 111.1% in the 3rd quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock valued at $33,000 after acquiring an additional 90 shares during the period. Park Place Capital Corp lifted its holdings in Penumbra by 1,473.9% during the 3rd 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 last quarter. Northwestern Mutual Wealth Management Co. boosted 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 worth $70,000 after purchasing an additional 369 shares during the period. Finally, Advisors Asset Management Inc. boosted its position 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 purchasing an additional 43 shares during the period. 88.88% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PEN has been the subject of a number of research reports. Truist Financial raised their target price on shares of Penumbra from $240.00 to $285.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Citigroup raised their price objective on shares of Penumbra from $220.00 to $245.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 11th. Canaccord Genuity Group upped their target price on Penumbra from $260.00 to $323.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Royal Bank of Canada lifted their price target on Penumbra from $205.00 to $222.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Finally, BTIG Research upped their price objective on Penumbra from $232.00 to $270.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $258.00.

Insider Buying and Selling at Penumbra

In other Penumbra news, CAO Lambert Shiu sold 1,798 shares of Penumbra stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $242.56, for a total value of $436,122.88. Following the transaction, the chief accounting officer now owns 20,682 shares in the company, valued at $5,016,625.92. The trade was a 8.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Johanna Roberts sold 600 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $190.76, for a total transaction of $114,456.00. Following the completion of the transaction, the executive vice president now directly owns 60,488 shares of the company’s stock, valued at $11,538,690.88. This trade represents a 0.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 49,418 shares of company stock worth $11,303,723 over the last three months. Corporate insiders own 5.00% of the company’s stock.

Penumbra Stock Down 0.1 %

Shares of NYSE PEN opened at $240.36 on Thursday. Penumbra, Inc. has a 52 week low of $148.00 and a 52 week high of $277.34. The stock’s fifty day moving average is $233.41 and its 200 day moving average is $204.44. 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 stock has a market capitalization of $9.22 billion, a P/E ratio of 279.49, a PEG ratio of 2.47 and a beta of 0.51.

Penumbra (NYSE:PEN) last released its earnings results on Wednesday, October 30th. The company reported $0.85 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $297.36 million. During the same period last year, the firm earned $0.67 EPS. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. Sell-side analysts forecast that Penumbra, Inc. will post 2.81 earnings per share for the current fiscal year.

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.