HighTower Advisors LLC Grows Position in Penumbra, Inc. (NYSE:PEN)

HighTower Advisors LLC grew its position in Penumbra, Inc. (NYSE:PEN) by 3.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,980 shares of the company’s stock after purchasing an additional 188 shares during the period. HighTower Advisors LLC’s holdings in Penumbra were worth $1,420,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of PEN. True Wealth Design LLC purchased a new position in Penumbra in the 3rd quarter valued at about $26,000. UMB Bank n.a. boosted its holdings in Penumbra by 57.4% in the fourth quarter. UMB Bank n.a. now owns 192 shares of the company’s stock valued at $46,000 after purchasing an additional 70 shares during the last quarter. Mather Group LLC. grew its stake in Penumbra by 208.0% during the 4th quarter. Mather Group LLC. now owns 308 shares of the company’s stock valued at $73,000 after purchasing an additional 208 shares in the last quarter. Advisors Asset Management Inc. raised its position in shares of Penumbra by 11.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 416 shares of the company’s stock valued at $81,000 after purchasing an additional 43 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its stake in shares of Penumbra by 25.0% during the 4th quarter. Jones Financial Companies Lllp now owns 375 shares of the company’s stock valued at $89,000 after buying an additional 75 shares during the last quarter. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Penumbra Stock Performance

Shares of NYSE PEN opened at $286.09 on Tuesday. Penumbra, Inc. has a one year low of $148.00 and a one year high of $310.00. The company has a current ratio of 6.01, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02. The business has a fifty day simple moving average of $273.48 and a 200 day simple moving average of $241.14. The firm has a market capitalization of $11.02 billion, a price-to-earnings ratio of 841.45, a PEG ratio of 2.83 and a beta of 0.51.

Penumbra (NYSE:PEN) last posted its earnings results on Tuesday, February 18th. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.88 by $0.09. The business had revenue of $315.52 million during 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%. Sell-side analysts expect that Penumbra, Inc. will post 3.67 EPS for the current year.

Insider Activity

In other Penumbra news, CEO Adam Elsesser sold 61,600 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $283.59, for a total transaction of $17,469,144.00. Following the sale, the chief executive officer now directly owns 16,376 shares in the company, valued at approximately $4,644,069.84. This trade represents a 79.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Harpreet Grewal sold 167 shares of the business’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $241.28, for a total transaction of $40,293.76. Following the completion of the sale, the director now directly owns 8,530 shares in the company, 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 over the last 90 days. 5.00% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts recently weighed in on PEN shares. Wells Fargo & Company boosted their price objective on Penumbra from $275.00 to $305.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Bank of America initiated coverage on Penumbra in a research report on Friday, March 14th. They set a “buy” rating and a $320.00 price target on the stock. BTIG Research lifted their price objective on shares of Penumbra from $232.00 to $270.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Canaccord Genuity Group boosted their target price on shares of Penumbra from $323.00 to $340.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Finally, Robert W. Baird raised their price target on shares of Penumbra from $305.00 to $328.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $294.47.

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.