Wealth Enhancement Advisory Services LLC Purchases 1,332 Shares of Penumbra, Inc. (NYSE:PEN)

Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Penumbra, Inc. (NYSE:PEN - Free Report) by 74.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 3,115 shares of the company's stock after acquiring an additional 1,332 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Penumbra were worth $740,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Norges Bank acquired a new position in Penumbra in the 4th quarter worth $54,396,000. T. Rowe Price Investment Management Inc. increased its holdings in shares of Penumbra by 47.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 707,061 shares of the company's stock worth $167,913,000 after purchasing an additional 227,506 shares during the period. Baillie Gifford & Co. increased its stake in Penumbra by 23.4% in the fourth quarter. Baillie Gifford & Co. now owns 730,233 shares of the company's stock valued at $173,416,000 after acquiring an additional 138,387 shares during the last quarter. Adage Capital Partners GP L.L.C. bought a new stake in shares of Penumbra during the fourth quarter worth $23,866,000. Finally, Baird Financial Group Inc. grew its stake in shares of Penumbra by 43.9% in the fourth quarter. Baird Financial Group Inc. now owns 280,198 shares of the company's stock worth $66,541,000 after purchasing an additional 85,542 shares during the last quarter. Institutional investors and hedge funds own 88.88% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on PEN shares. Canaccord Genuity Group boosted their target price on shares of Penumbra from $323.00 to $340.00 and gave the stock a "buy" rating in a research report on Wednesday, February 19th. BTIG Research restated a "buy" rating on shares of Penumbra in a research report on Thursday, April 24th. Wells Fargo & Company increased their target price on shares of Penumbra from $305.00 to $315.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. JPMorgan Chase & Co. raised their price target on shares of Penumbra from $230.00 to $285.00 and gave the stock an "overweight" rating in a report on Wednesday, February 19th. Finally, UBS Group reissued a "buy" rating and set a $330.00 price target (up from $320.00) on shares of Penumbra in a research report on Thursday, April 24th. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Penumbra has a consensus rating of "Moderate Buy" and a consensus target price of $302.40.

Penumbra Stock Performance

NYSE PEN traded up $2.90 during trading hours on Friday, hitting $256.30. 367,891 shares of the company's stock traded hands, compared to its average volume of 449,417. The business's fifty day moving average price is $275.71 and its two-hundred day moving average price is $267.11. The company has a current ratio of 6.01, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $9.93 billion, a P/E ratio of 753.82, a P/E/G ratio of 2.83 and a beta of 0.49. Penumbra, Inc. has a 52 week low of $148.00 and a 52 week high of $310.00.

Penumbra (NYSE:PEN - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.17. The company had revenue of $324.14 million during the quarter, compared to analyst estimates of $315.72 million. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. The firm's quarterly revenue was up 16.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.41 earnings per share. Equities research analysts predict that Penumbra, Inc. will post 3.67 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Adam Elsesser sold 15,910 shares of the company's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $253.67, for a total transaction of $4,035,889.70. Following the sale, the chief executive officer now owns 110,355 shares of the company's stock, valued at $27,993,752.85. This represents a 12.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Arani Bose sold 12,000 shares of the company's stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $283.77, for a total transaction of $3,405,240.00. Following the sale, the director now directly owns 314,819 shares in the company, valued at approximately $89,336,187.63. The trade was a 3.67% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 144,755 shares of company stock worth $40,395,871 over the last three months. 4.20% of the stock is currently owned by company insiders.

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.