Cambridge Investment Research Advisors Inc. Purchases Shares of 9,777 Penumbra, Inc. (NYSE:PEN)

Cambridge Investment Research Advisors Inc. bought a new stake in shares of Penumbra, Inc. (NYSE:PEN - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 9,777 shares of the company's stock, valued at approximately $2,614,000.

Other large investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of Penumbra by 1.4% during the fourth 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. Proficio Capital Partners LLC acquired a new stake in shares of Penumbra in the fourth quarter valued at $3,553,000. HighTower Advisors LLC raised its stake in shares of Penumbra by 3.2% in the fourth quarter. HighTower Advisors LLC now owns 5,980 shares of the company's stock worth $1,420,000 after acquiring an additional 188 shares during the last quarter. Atria Investments Inc bought a new position in Penumbra in the 4th quarter valued at $221,000. Finally, Envestnet Portfolio Solutions Inc. raised its holdings in Penumbra by 3.7% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 2,867 shares of the company's stock worth $681,000 after purchasing an additional 101 shares during the last quarter. 88.88% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently commented on PEN. Bank of America began coverage on shares of Penumbra in a research report on Friday, March 14th. They issued a "buy" rating and a $320.00 price objective for the company. BTIG Research reissued a "buy" rating on shares of Penumbra in a report on Thursday, April 24th. Robert W. Baird boosted their price objective on Penumbra from $316.00 to $325.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Truist Financial lifted their price objective on shares of Penumbra from $315.00 to $330.00 and gave the stock a "buy" rating in a research note on Thursday, April 24th. Finally, Wells Fargo & Company boosted their price target on Penumbra from $305.00 to $315.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $302.40.

Penumbra Stock Performance

Shares of PEN stock traded up $0.80 during mid-day trading on Friday, hitting $250.54. 233,847 shares of the stock were exchanged, compared to its average volume of 453,066. The stock's fifty day simple moving average is $270.14 and its two-hundred day simple moving average is $268.03. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.68 and a current ratio of 6.30. Penumbra, Inc. has a 12-month low of $148.00 and a 12-month high of $310.00. The stock has a market capitalization of $9.70 billion, a price-to-earnings ratio of 236.36, a P/E/G ratio of 2.24 and a beta of 0.47.

Penumbra (NYSE:PEN - Get Free Report) last released its quarterly 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 analysts' expectations of $315.72 million. Penumbra had a return on equity of 11.14% and a net margin of 3.41%. The company's revenue was up 16.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.41 EPS. On average, analysts forecast that Penumbra, Inc. will post 3.67 EPS for the current year.

Insider Buying and Selling at Penumbra

In other Penumbra news, CFO Maggie Yuen sold 2,000 shares of the company's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $299.01, for a total value of $598,020.00. Following the transaction, the chief financial officer directly owned 13,957 shares of the company's stock, valued at $4,173,282.57. This represents a 12.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Adam Elsesser sold 16,650 shares of the stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $289.37, for a total value of $4,818,010.50. Following the completion of the sale, the chief executive officer directly owned 75,237 shares in the company, valued at $21,771,330.69. This represents a 18.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 114,810 shares of company stock worth $31,734,215. 4.20% of the stock is currently owned by insiders.

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.