Corient Private Wealth LLC Raises Stake in Penumbra, Inc. (NYSE:PEN)

Corient Private Wealth LLC increased its stake in shares of Penumbra, Inc. (NYSE:PENFree Report) by 50.6% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 3,715 shares of the company’s stock after purchasing an additional 1,249 shares during the period. Corient Private Wealth LLC’s holdings in Penumbra were worth $934,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Penumbra by 171.8% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 106 shares of the company’s stock valued at $27,000 after acquiring an additional 67 shares in the last quarter. Signaturefd LLC raised its holdings in shares of Penumbra by 27.2% in the 4th quarter. Signaturefd LLC now owns 215 shares of the company’s stock valued at $54,000 after acquiring an additional 46 shares in the last quarter. Covestor Ltd raised its holdings in shares of Penumbra by 357.9% in the 3rd quarter. Covestor Ltd now owns 348 shares of the company’s stock valued at $84,000 after acquiring an additional 272 shares in the last quarter. Picton Mahoney Asset Management purchased a new stake in shares of Penumbra in the 4th quarter valued at about $88,000. Finally, Nisa Investment Advisors LLC raised its holdings in shares of Penumbra by 496.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 358 shares of the company’s stock valued at $90,000 after acquiring an additional 298 shares in the last quarter. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Penumbra Price Performance

PEN opened at $188.20 on Tuesday. The stock’s 50 day simple moving average is $207.11 and its 200 day simple moving average is $231.88. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.12 and a quick ratio of 3.51. Penumbra, Inc. has a 1 year low of $180.93 and a 1 year high of $348.67. The firm has a market cap of $7.29 billion, a price-to-earnings ratio of 79.41, a PEG ratio of 1.92 and a beta of 0.59.

Penumbra (NYSE:PENGet Free Report) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.01). Penumbra had a return on equity of 7.83% and a net margin of 8.52%. The company had revenue of $278.70 million for the quarter, compared to the consensus estimate of $274.94 million. During the same quarter in the previous year, the business earned $0.23 earnings per share. Penumbra’s revenue was up 15.5% compared to the same quarter last year. As a group, analysts predict that Penumbra, Inc. will post 2.87 earnings per share for the current year.

Insider Activity

In other news, Director Don W. Kassing sold 170 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $223.18, for a total transaction of $37,940.60. Following the transaction, the director now directly owns 1,175 shares of the company’s stock, valued at $262,236.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Don W. Kassing sold 170 shares of Penumbra stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $223.18, for a total transaction of $37,940.60. Following the sale, the director now directly owns 1,175 shares in the company, valued at $262,236.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Adam Elsesser sold 15,000 shares of Penumbra stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $200.98, for a total value of $3,014,700.00. Following the sale, the chief executive officer now owns 942,582 shares in the company, valued at $189,440,130.36. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,370 shares of company stock valued at $3,307,329. Company insiders own 5.00% of the company’s stock.

Analyst Ratings Changes

PEN has been the topic of several recent analyst reports. Canaccord Genuity Group lowered their price target on Penumbra from $284.00 to $272.00 and set a “buy” rating on the stock in a report on Wednesday, May 8th. JPMorgan Chase & Co. lowered Penumbra from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $284.00 to $250.00 in a research report on Friday, February 23rd. Piper Sandler reduced their price objective on Penumbra from $290.00 to $260.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 8th. Royal Bank of Canada reiterated an “outperform” rating and set a $289.00 price objective on shares of Penumbra in a research report on Friday, February 23rd. Finally, Truist Financial reduced their price objective on Penumbra from $290.00 to $280.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $300.64.

Check Out Our Latest Report on Penumbra

About Penumbra

(Free Report)

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.

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Institutional Ownership by Quarter for Penumbra (NYSE:PEN)

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