Cetera Investment Advisers Acquires 1,000 Shares of Penumbra, Inc. (NYSE:PEN)

Cetera Investment Advisers increased its holdings in Penumbra, Inc. (NYSE:PEN - Free Report) by 56.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,757 shares of the company's stock after acquiring an additional 1,000 shares during the period. Cetera Investment Advisers' holdings in Penumbra were worth $737,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of PEN. Synergy Investment Management LLC bought a new position in shares of Penumbra in the first quarter valued at approximately $27,000. First Horizon Advisors Inc. grew its holdings in Penumbra by 404.8% during the first quarter. First Horizon Advisors Inc. now owns 106 shares of the company's stock valued at $28,000 after purchasing an additional 85 shares during the period. Versant Capital Management Inc grew its holdings in Penumbra by 893.5% during the first quarter. Versant Capital Management Inc now owns 308 shares of the company's stock valued at $82,000 after purchasing an additional 277 shares during the period. UMB Bank n.a. grew its holdings in Penumbra by 110.4% during the first quarter. UMB Bank n.a. now owns 404 shares of the company's stock valued at $108,000 after purchasing an additional 212 shares during the period. Finally, Fifth Third Bancorp grew its holdings in Penumbra by 16.4% during the first quarter. Fifth Third Bancorp now owns 404 shares of the company's stock valued at $108,000 after purchasing an additional 57 shares during the period. 88.88% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Johanna Roberts sold 600 shares of the stock in a transaction on Monday, August 11th. The stock was sold at an average price of $238.94, for a total value of $143,364.00. Following the sale, the executive vice president owned 65,457 shares in the company, valued at approximately $15,640,295.58. This trade represents a 0.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Thomas Wilder sold 372 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $240.16, for a total value of $89,339.52. Following the completion of the sale, the director owned 372 shares in the company, valued at $89,339.52. This trade represents a 50.00% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 98,487 shares of company stock worth $24,461,787. Corporate insiders own 4.20% of the company's stock.

Penumbra Trading Down 1.6%

Shares of PEN stock opened at $253.19 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.04 and a current ratio of 6.75. Penumbra, Inc. has a 52-week low of $184.19 and a 52-week high of $310.00. The company has a market capitalization of $9.87 billion, a PE ratio of 67.34, a price-to-earnings-growth ratio of 2.31 and a beta of 0.40. The business's fifty day moving average is $246.16 and its 200 day moving average is $265.74.

Penumbra (NYSE:PEN - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.81 by $0.05. Penumbra had a return on equity of 11.55% and a net margin of 11.54%. The company had revenue of $339.46 million for the quarter, compared to the consensus estimate of $327.37 million. During the same quarter last year, the business posted $0.64 earnings per share. The firm's revenue was up 13.4% compared to the same quarter last year. On average, equities research analysts anticipate that Penumbra, Inc. will post 3.67 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have weighed in on PEN. Morgan Stanley increased their price objective on Penumbra from $260.00 to $266.00 and gave the company an "equal weight" rating in a report on Thursday, July 31st. BTIG Research reissued a "buy" rating on shares of Penumbra in a report on Thursday, April 24th. William Blair raised Penumbra to a "strong-buy" rating in a report on Friday, July 18th. Robert W. Baird increased their price objective on Penumbra from $283.00 to $285.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Finally, Wall Street Zen lowered Penumbra from a "strong-buy" rating to a "hold" rating in a report on Saturday, August 2nd. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Penumbra currently has a consensus rating of "Moderate Buy" and a consensus price target of $300.47.

Penumbra 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.

Want to see what other hedge funds are holding PEN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Penumbra, Inc. (NYSE:PEN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.