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

Prospera Financial Services Inc purchased a new position in Penumbra, Inc. (NYSE:PEN) in the third quarter, HoldingsChannel reports. The fund purchased 2,523 shares of the company’s stock, valued at approximately $639,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. Mather Group LLC. acquired a new position in Penumbra during the 3rd quarter worth $25,000. Newbridge Financial Services Group Inc. acquired a new position in Penumbra in the second quarter worth about $30,000. Parkside Financial Bank & Trust increased its holdings in Penumbra by 70.2% in the second quarter. Parkside Financial Bank & Trust now owns 160 shares of the company’s stock valued at $41,000 after buying an additional 66 shares during the last quarter. Covestor Ltd raised its stake in Penumbra by 53.0% during the third quarter. Covestor Ltd now owns 179 shares of the company’s stock valued at $46,000 after buying an additional 62 shares in the last quarter. Finally, True Wealth Design LLC raised its stake in Penumbra by 68.7% during the third quarter. True Wealth Design LLC now owns 253 shares of the company’s stock valued at $64,000 after buying an additional 103 shares in the last quarter. 88.88% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Harpreet Grewal sold 186 shares of the stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $312.64, for a total value of $58,151.04. Following the completion of the transaction, the director owned 8,230 shares of the company’s stock, valued at approximately $2,573,027.20. This represents a 2.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Johanna Roberts sold 1,800 shares of Penumbra 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 sale, the executive vice president owned 64,736 shares in the company, valued at approximately $19,424,684.16. This represents a 2.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 33,172 shares of company stock valued at $10,015,279. Corporate insiders own 5.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on PEN shares. William Blair lowered Penumbra from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 15th. Wall Street Zen downgraded shares of Penumbra from a “buy” rating to a “hold” rating in a report on Saturday, January 17th. Truist Financial cut shares of Penumbra from a “buy” rating to a “hold” rating and increased their target price for the stock from $370.00 to $374.00 in a report on Friday, January 16th. Robert W. Baird restated a “neutral” rating and issued a $374.00 price target (up from $345.00) on shares of Penumbra in a research report on Friday, January 16th. Finally, BTIG Research downgraded shares of Penumbra from a “buy” rating to a “neutral” rating and set a $349.00 price objective for the company. in a research report on Thursday, January 15th. Four analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $358.00.

Penumbra Trading Up 0.2%

Penumbra stock opened at $339.56 on Monday. Penumbra, Inc. has a 52-week low of $221.26 and a 52-week high of $362.41. The company has a quick ratio of 4.18, a current ratio of 6.73 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $13.30 billion, a price-to-earnings ratio of 81.23, a PEG ratio of 2.09 and a beta of 0.81. The firm has a 50-day moving average price of $328.84 and a two-hundred day moving average price of $285.61.

About Penumbra

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.