Diversify Advisory Services LLC Acquires Shares of 2,889 Penumbra, Inc. (NYSE:PEN)

Diversify Advisory Services LLC bought a new position in shares of Penumbra, Inc. (NYSE:PEN - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,889 shares of the company's stock, valued at approximately $858,000.

Several other hedge funds also recently bought and sold shares of the company. Raymond James Financial Inc. bought a new position in Penumbra in the fourth quarter valued at $5,976,000. HighTower Advisors LLC boosted its stake in shares of Penumbra by 3.2% in the 4th quarter. HighTower Advisors LLC now owns 5,980 shares of the company's stock valued at $1,420,000 after purchasing an additional 188 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Penumbra by 3.7% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 2,867 shares of the company's stock valued at $681,000 after purchasing an additional 101 shares in the last quarter. Corient Private Wealth LLC boosted its stake in shares of Penumbra by 3.7% in the 4th quarter. Corient Private Wealth LLC now owns 1,695 shares of the company's stock valued at $403,000 after purchasing an additional 61 shares in the last quarter. Finally, Xponance Inc. raised its holdings in Penumbra by 2.8% during the 4th quarter. Xponance Inc. now owns 7,948 shares of the company's stock valued at $1,887,000 after buying an additional 216 shares during the last quarter. Hedge funds and other institutional investors own 88.88% of the company's stock.

Insider Activity at Penumbra

In other news, CEO Adam Elsesser sold 15,985 shares of the stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $243.75, for a total value of $3,896,343.75. Following the completion of the transaction, the chief executive officer owned 134,432 shares in the company, valued at $32,767,800. This trade represents a 10.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Bridget O'rourke sold 100 shares of the stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $286.15, for a total transaction of $28,615.00. Following the completion of the sale, the director directly owned 5,423 shares in the company, valued at approximately $1,551,791.45. The trade was a 1.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 114,185 shares of company stock worth $31,073,762 in the last 90 days. 5.00% of the stock is owned by insiders.

Penumbra Trading Up 1.5%

Penumbra stock traded up $3.50 during midday trading on Tuesday, hitting $232.36. 156,226 shares of the stock were exchanged, compared to its average volume of 455,142. Penumbra, Inc. has a fifty-two week low of $148.00 and a fifty-two week high of $310.00. The stock has a market capitalization of $9.00 billion, a price-to-earnings ratio of 218.95, a PEG ratio of 2.06 and a beta of 0.47. The stock's 50-day simple moving average is $258.27 and its 200 day simple moving average is $268.38. The company has a current ratio of 6.30, a quick ratio of 3.68 and a debt-to-equity ratio of 0.02.

Penumbra (NYSE:PEN - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $0.83 earnings per share for the quarter, beating analysts' consensus estimates of $0.66 by $0.17. Penumbra had a net margin of 3.41% and a return on equity of 11.14%. The firm had revenue of $324.14 million during the quarter, compared to analysts' expectations of $315.72 million. During the same quarter in the previous year, the business posted $0.41 earnings per share. The business's quarterly revenue was up 16.3% compared to the same quarter last year. On average, equities analysts anticipate that Penumbra, Inc. will post 3.67 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on PEN shares. Wall Street Zen raised shares of Penumbra from a "buy" rating to a "strong-buy" rating in a research note on Saturday, June 14th. William Blair raised shares of Penumbra to a "strong-buy" rating in a research note on Friday. BTIG Research restated a "buy" rating on shares of Penumbra in a research note on Thursday, April 24th. Stifel Nicolaus set a $318.00 price objective on shares of Penumbra and gave the company a "buy" rating in a research note on Thursday, April 24th. Finally, UBS Group restated a "buy" rating and set a $330.00 price objective (up from $320.00) on shares of Penumbra in a research note on Thursday, April 24th. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Penumbra currently has a consensus rating of "Buy" and an average price target of $305.07.

About Penumbra

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.