Atria Investments Inc Purchases New Position in Penumbra, Inc. (NYSE:PEN)

Atria Investments Inc purchased a new stake in shares of Penumbra, Inc. (NYSE:PEN - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 932 shares of the company's stock, valued at approximately $221,000.

Several other hedge funds also recently made changes to their positions in PEN. China Universal Asset Management Co. Ltd. bought a new stake in Penumbra in the fourth quarter worth $573,000. State Street Corp boosted its holdings in Penumbra by 0.3% in the third quarter. State Street Corp now owns 1,236,671 shares of the company's stock worth $240,298,000 after acquiring an additional 3,863 shares in the last quarter. E. Ohman J or Asset Management AB boosted its holdings in Penumbra by 10.4% in the fourth quarter. E. Ohman J or Asset Management AB now owns 21,312 shares of the company's stock worth $5,061,000 after acquiring an additional 2,000 shares in the last quarter. LMR Partners LLP bought a new stake in Penumbra in the third quarter worth $2,330,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Penumbra by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 271,574 shares of the company's stock worth $64,493,000 after purchasing an additional 3,807 shares during the last quarter. 88.88% of the stock is currently owned by institutional investors.

Insider Transactions at Penumbra

In other news, CEO Adam Elsesser sold 61,600 shares of the company's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $283.59, for a total value of $17,469,144.00. Following the completion of the transaction, the chief executive officer now owns 16,376 shares of the company's stock, valued at $4,644,069.84. This represents a 79.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Johanna Roberts sold 600 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $287.43, for a total value of $172,458.00. Following the completion of the transaction, the executive vice president now directly owns 66,539 shares of the company's stock, valued at approximately $19,125,304.77. This trade represents a 0.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 81,518 shares of company stock valued at $22,994,979 over the last 90 days. Company insiders own 5.00% of the company's stock.

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Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on PEN shares. StockNews.com cut Penumbra from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Wells Fargo & Company boosted their price target on Penumbra from $275.00 to $305.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 19th. JPMorgan Chase & Co. boosted their price target on Penumbra from $230.00 to $285.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 19th. Truist Financial boosted their price target on Penumbra from $285.00 to $325.00 and gave the stock a "buy" rating in a research note on Wednesday, February 19th. Finally, Piper Sandler restated an "overweight" rating and issued a $330.00 price target (up previously from $250.00) on shares of Penumbra in a research note on Wednesday, February 19th. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Penumbra currently has an average rating of "Moderate Buy" and an average price target of $294.47.

Penumbra Stock Performance

NYSE:PEN traded down $0.40 during mid-day trading on Friday, hitting $280.93. 737,365 shares of the company traded hands, compared to its average volume of 397,364. The stock's fifty day moving average price is $272.70 and its 200-day moving average price is $240.05. Penumbra, Inc. has a one year low of $148.00 and a one year high of $310.00. The company has a quick ratio of 3.25, a current ratio of 6.01 and a debt-to-equity ratio of 0.02. The firm has a market cap of $10.82 billion, a price-to-earnings ratio of 826.25, a price-to-earnings-growth ratio of 2.83 and a beta of 0.51.

Penumbra (NYSE:PEN - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.09. The business had revenue of $315.52 million during the quarter, compared to analyst estimates of $311.63 million. Penumbra had a return on equity of 9.74% and a net margin of 1.17%. Research analysts anticipate 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.