Focus Partners Advisor Solutions LLC Buys Shares of 832 Penumbra, Inc. $PEN

Focus Partners Advisor Solutions LLC acquired a new stake in shares of Penumbra, Inc. (NYSE:PEN) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 832 shares of the company’s stock, valued at approximately $214,000.

Other large investors also recently bought and sold shares of the company. Concurrent Investment Advisors LLC bought a new position in shares of Penumbra in the 1st quarter worth $259,000. Fortis Capital Advisors LLC bought a new stake in Penumbra during the first quarter valued at about $732,000. Belpointe Asset Management LLC purchased a new position in Penumbra in the first quarter valued at about $732,000. Sheets Smith Investment Management bought a new position in Penumbra in the first quarter worth about $773,000. Finally, E. Ohman J or Asset Management AB raised its holdings in Penumbra by 10.2% in the second quarter. E. Ohman J or Asset Management AB now owns 18,312 shares of the company’s stock worth $4,699,000 after purchasing an additional 1,700 shares in the last quarter. Institutional investors own 88.88% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Penumbra in a research report on Wednesday, October 8th. Morgan Stanley raised their target price on shares of Penumbra from $260.00 to $266.00 and gave the company an “equal weight” rating in a research note on Thursday, July 31st. UBS Group set a $335.00 price target on shares of Penumbra and gave the stock a “buy” rating in a report on Wednesday, July 30th. Evercore ISI decreased their price objective on Penumbra from $300.00 to $285.00 and set an “outperform” rating for the company in a report on Tuesday, October 7th. Finally, Royal Bank Of Canada lowered their price objective on Penumbra from $330.00 to $325.00 and set an “outperform” rating for the company in a research report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Penumbra presently has a consensus rating of “Moderate Buy” and a consensus price target of $305.94.

Insider Transactions at Penumbra

In related news, Director Thomas Wilder sold 372 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $240.16, for a total value of $89,339.52. Following the transaction, the director owned 372 shares in the company, valued at approximately $89,339.52. This represents a 50.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Adam Elsesser sold 16,030 shares of the firm’s stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $238.20, for a total transaction of $3,818,346.00. Following the transaction, the chief executive officer directly owned 158,204 shares of the company’s stock, valued at $37,684,192.80. This represents a 9.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 64,460 shares of company stock valued at $16,322,614. 4.20% of the stock is owned by company insiders.

Penumbra Stock Performance

Shares of PEN stock opened at $227.34 on Friday. The business has a fifty day moving average of $258.44 and a 200 day moving average of $259.62. Penumbra, Inc. has a 1 year low of $207.58 and a 1 year high of $310.00. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.75 and a quick ratio of 4.04. The firm has a market capitalization of $8.87 billion, a price-to-earnings ratio of 60.46, a price-to-earnings-growth ratio of 2.10 and a beta of 0.41.

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.