Prospera Financial Services Inc Takes Position in Penumbra, Inc. $PEN

Prospera Financial Services Inc bought a new position in shares of Penumbra, Inc. (NYSE:PEN) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,523 shares of the company’s stock, valued at approximately $639,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mather Group LLC. acquired a new stake in shares of Penumbra during the third quarter worth $25,000. Newbridge Financial Services Group Inc. purchased a new position in Penumbra during the second quarter worth about $30,000. Parkside Financial Bank & Trust boosted its stake in Penumbra by 70.2% in the 2nd quarter. Parkside Financial Bank & Trust now owns 160 shares of the company’s stock worth $41,000 after buying an additional 66 shares during the last quarter. Covestor Ltd grew its holdings in Penumbra by 53.0% in the 3rd quarter. Covestor Ltd now owns 179 shares of the company’s stock valued at $46,000 after buying an additional 62 shares during the period. Finally, True Wealth Design LLC increased its stake in shares of Penumbra by 68.7% during the 3rd quarter. True Wealth Design LLC now owns 253 shares of the company’s stock valued at $64,000 after acquiring an additional 103 shares during the last quarter. 88.88% of the stock is owned by hedge funds and other institutional investors.

Penumbra Stock Performance

Penumbra stock opened at $339.56 on Monday. The firm has a market capitalization of $13.30 billion, a PE ratio of 81.23, a price-to-earnings-growth ratio of 2.09 and a beta of 0.81. Penumbra, Inc. has a one year low of $221.26 and a one year high of $362.41. The stock’s 50 day moving average price is $328.84 and its 200 day moving average price is $285.61. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.18 and a current ratio of 6.73.

Insider Activity

In related news, Director Harpreet Grewal sold 186 shares of Penumbra stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $312.64, for a total transaction of $58,151.04. Following the sale, the director owned 8,230 shares of the company’s stock, valued at $2,573,027.20. The trade was a 2.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Johanna Roberts sold 1,800 shares of the company’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $300.06, for a total transaction of $540,108.00. Following the completion of the transaction, the executive vice president directly owned 64,736 shares of the company’s stock, valued at approximately $19,424,684.16. The trade was a 2.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 33,172 shares of company stock valued at $10,015,279 over the last ninety days. 5.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

PEN has been the subject of a number of recent analyst reports. Evercore restated an “outperform” rating and issued a $340.00 target price on shares of Penumbra in a report on Monday, January 5th. Wells Fargo & Company reissued an “equal weight” rating and set a $374.00 price objective on shares of Penumbra in a research note on Thursday, January 15th. William Blair lowered Penumbra from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 15th. Bank of America boosted their price target on Penumbra from $320.00 to $370.00 and gave the company a “buy” rating in a research report on Monday, January 5th. Finally, Canaccord Genuity Group downgraded Penumbra from a “buy” rating to a “hold” rating and raised their price objective for the stock from $359.00 to $374.00 in a report on Tuesday, January 20th. Four research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $358.00.

Penumbra Company Profile

Penumbra, Inc is a global healthcare company specializing in the development and manufacture of innovative medical devices that address neurovascular and peripheral vascular conditions. The company focuses on products designed to improve patient outcomes in acute ischemic stroke, aneurysm treatment and peripheral thrombectomy. Penumbra’s technologies are used by interventional neuroradiologists, neurosurgeons and interventional cardiologists in hospitals and clinics around the world.

At the core of Penumbra’s portfolio is its mechanical thrombectomy platform, which includes aspiration catheters and accessory devices engineered to remove blood clots in acute stroke cases.