Wealth Enhancement Advisory Services LLC Purchases 1,332 Shares of Penumbra, Inc. (NYSE:PEN)

Wealth Enhancement Advisory Services LLC lifted its position in Penumbra, Inc. (NYSE:PEN) by 74.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,115 shares of the company’s stock after acquiring an additional 1,332 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Penumbra were worth $740,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of Penumbra by 1.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 271,574 shares of the company’s stock worth $64,493,000 after buying an additional 3,807 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Penumbra by 39.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 299,397 shares of the company’s stock worth $71,831,000 after buying an additional 85,284 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Penumbra in the 4th quarter worth about $3,553,000. HighTower Advisors LLC boosted its holdings in shares of Penumbra by 3.2% in the 4th quarter. HighTower Advisors LLC now owns 5,980 shares of the company’s stock worth $1,420,000 after buying an additional 188 shares during the last quarter. Finally, Atria Investments Inc purchased a new position in shares of Penumbra in the 4th quarter worth about $221,000. Institutional investors own 88.88% of the company’s stock.

Wall Street Analysts Forecast Growth

PEN has been the topic of a number of research analyst reports. Canaccord Genuity Group boosted their price target on shares of Penumbra from $323.00 to $340.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Wells Fargo & Company boosted their price target on shares of Penumbra from $305.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, April 24th. Needham & Company LLC reissued a “hold” rating on shares of Penumbra in a report on Wednesday, February 19th. Bank of America started coverage on shares of Penumbra in a report on Friday, March 14th. They set a “buy” rating and a $320.00 price objective on the stock. Finally, Morgan Stanley boosted their price target on shares of Penumbra from $240.00 to $260.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 19th. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $302.40.

Insider Buying and Selling

In other news, EVP Johanna Roberts sold 600 shares of the stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $258.17, for a total value of $154,902.00. Following the transaction, the executive vice president now owns 64,714 shares of the company’s stock, valued at $16,707,213.38. This represents a 0.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Arani Bose sold 12,000 shares of the stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $283.77, for a total transaction of $3,405,240.00. Following the completion of the transaction, the director now directly owns 314,819 shares in the company, valued at $89,336,187.63. The trade was a 3.67% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 128,845 shares of company stock valued at $36,359,981. Company insiders own 4.20% of the company’s stock.

Penumbra Stock Performance

Penumbra stock opened at $255.31 on Wednesday. The firm’s 50 day simple moving average is $276.11 and its 200 day simple moving average is $267.10. 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 firm has a market capitalization of $9.89 billion, a PE ratio of 750.90, a price-to-earnings-growth ratio of 2.83 and a beta of 0.49. Penumbra, Inc. has a 1-year low of $148.00 and a 1-year high of $310.00.

Penumbra (NYSE:PEN) last posted its earnings results on Wednesday, April 23rd. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.17. The business had revenue of $324.14 million for the quarter, compared to analyst estimates of $315.72 million. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. Penumbra’s revenue was up 16.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.41 EPS. As a group, analysts expect that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal 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.