Penumbra, Inc. (NYSE:PEN) Shares Sold by Congress Wealth Management LLC DE

Congress Wealth Management LLC DE reduced its stake in shares of Penumbra, Inc. (NYSE:PEN) by 0.7% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 79,868 shares of the company’s stock after selling 590 shares during the period. Congress Wealth Management LLC DE owned approximately 0.21% of Penumbra worth $18,967,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PEN. Pallas Capital Advisors LLC lifted its stake in Penumbra by 3.8% in the 4th quarter. Pallas Capital Advisors LLC now owns 1,108 shares of the company’s stock worth $263,000 after purchasing an additional 41 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in Penumbra by 11.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 416 shares of the company’s stock worth $81,000 after purchasing an additional 43 shares in the last quarter. Pacer Advisors Inc. lifted its stake in Penumbra by 1.0% in the 4th quarter. Pacer Advisors Inc. now owns 5,721 shares of the company’s stock worth $1,359,000 after purchasing an additional 57 shares in the last quarter. CIBC Asset Management Inc lifted its stake in Penumbra by 5.4% in the 4th quarter. CIBC Asset Management Inc now owns 1,183 shares of the company’s stock worth $281,000 after purchasing an additional 61 shares in the last quarter. Finally, Corient Private Wealth LLC lifted its stake in Penumbra by 3.7% in the 4th quarter. Corient Private Wealth LLC now owns 1,695 shares of the company’s stock worth $403,000 after purchasing an additional 61 shares in the last quarter. 88.88% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on PEN shares. Wells Fargo & Company lifted their price target on shares of Penumbra from $275.00 to $305.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. Morgan Stanley lifted 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. Piper Sandler reaffirmed an “overweight” rating and set a $330.00 price target (up previously from $250.00) on shares of Penumbra in a research report on Wednesday, February 19th. Needham & Company LLC reaffirmed a “hold” rating on shares of Penumbra in a research report on Wednesday, February 19th. Finally, Oppenheimer started coverage on shares of Penumbra in a research report on Tuesday, December 17th. They set an “outperform” rating and a $275.00 price target on the stock. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $294.47.

Insider Activity at Penumbra

In other Penumbra news, CFO Maggie Yuen sold 2,000 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $286.00, for a total transaction of $572,000.00. Following the completion of the transaction, the chief financial officer now directly owns 15,243 shares of the company’s stock, valued at $4,359,498. This trade represents a 11.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Johanna Roberts sold 600 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $287.43, for a total transaction of $172,458.00. Following 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 represents a 0.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 81,518 shares of company stock valued at $22,994,979. Corporate insiders own 5.00% of the company’s stock.

Penumbra Stock Performance

NYSE:PEN opened at $280.93 on Monday. 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 company has a market cap of $10.82 billion, a P/E ratio of 826.25, a P/E/G ratio of 2.83 and a beta of 0.51. Penumbra, Inc. has a fifty-two week low of $148.00 and a fifty-two week high of $310.00. The firm’s 50 day moving average is $272.70 and its two-hundred day moving average is $240.56.

Penumbra (NYSE:PEN) last issued its earnings results on Tuesday, February 18th. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.09. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. The business had revenue of $315.52 million for the quarter, compared to the consensus estimate of $311.63 million. Analysts expect that Penumbra, Inc. will post 3.67 EPS for the current 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.