Wescott Financial Advisory Group LLC Acquires New Holdings in Penumbra, Inc. (NYSE:PEN)

Wescott Financial Advisory Group LLC bought a new stake in Penumbra, Inc. (NYSE:PEN) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 853 shares of the company’s stock, valued at approximately $203,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PEN. China Universal Asset Management Co. Ltd. bought a new position in Penumbra in the 4th quarter valued at approximately $573,000. State Street Corp increased its position in Penumbra by 0.3% in the 3rd quarter. State Street Corp now owns 1,236,671 shares of the company’s stock valued at $240,298,000 after acquiring an additional 3,863 shares during the period. E. Ohman J or Asset Management AB raised its stake in shares of Penumbra by 10.4% during the fourth quarter. E. Ohman J or Asset Management AB now owns 21,312 shares of the company’s stock valued at $5,061,000 after acquiring an additional 2,000 shares during the last quarter. 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 purchasing an additional 3,807 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Penumbra by 1.7% in the third quarter. Geode Capital Management LLC now owns 655,572 shares of the company’s stock worth $127,417,000 after purchasing an additional 11,257 shares during the last quarter. Institutional investors own 88.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Royal Bank of Canada lifted their target price on Penumbra from $285.00 to $313.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Truist Financial raised their price objective on Penumbra from $285.00 to $325.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. JPMorgan Chase & Co. upped their target price on Penumbra from $230.00 to $285.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Oppenheimer initiated coverage on shares of Penumbra in a research note on Tuesday, December 17th. They issued an “outperform” rating and a $275.00 price objective on the stock. Finally, Needham & Company LLC reissued a “hold” rating on shares of Penumbra in a research note on Wednesday, February 19th. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Penumbra has a consensus rating of “Moderate Buy” and a consensus price target of $294.47.

Insider Activity at Penumbra

In other Penumbra news, CEO Adam Elsesser sold 61,600 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $283.59, for a total value of $17,469,144.00. Following the completion of the sale, the chief executive officer now owns 16,376 shares in the company, valued at approximately $4,644,069.84. This trade represents a 79.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Thomas Wilder sold 360 shares of the business’s stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $264.58, for a total value of $95,248.80. Following the completion of the transaction, the director now owns 4,533 shares in the company, valued at $1,199,341.14. The trade was a 7.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 111,236 shares of company stock valued at $31,222,390 over the last 90 days. Insiders own 5.00% of the company’s stock.

Penumbra Stock Performance

PEN opened at $262.37 on Friday. The company has a market cap of $10.11 billion, a price-to-earnings ratio of 771.66, a PEG ratio of 2.83 and a beta of 0.51. The company’s fifty day moving average price is $274.48 and its two-hundred day moving average price is $245.21. Penumbra, Inc. has a 1-year low of $148.00 and a 1-year high of $310.00. The company has a current ratio of 6.01, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02.

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

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.