Trust Point Inc. Invests $215,000 in Penumbra, Inc. (NYSE:PEN)

Trust Point Inc. purchased a new stake in shares of Penumbra, Inc. (NYSE:PEN) in the fourth quarter, Holdings Channel reports. The firm purchased 904 shares of the company’s stock, valued at approximately $215,000.

Other hedge funds have also bought and sold shares of the company. Pallas Capital Advisors LLC grew its stake in Penumbra by 3.8% in the 4th quarter. Pallas Capital Advisors LLC now owns 1,108 shares of the company’s stock valued at $263,000 after purchasing an additional 41 shares during the period. Advisors Asset Management Inc. grew its position in Penumbra by 11.5% during the third quarter. Advisors Asset Management Inc. now owns 416 shares of the company’s stock valued at $81,000 after buying an additional 43 shares during the period. Pacer Advisors Inc. increased its holdings in Penumbra by 1.0% during the fourth quarter. Pacer Advisors Inc. now owns 5,721 shares of the company’s stock worth $1,359,000 after buying an additional 57 shares during the last quarter. Legacy Wealth Asset Management LLC raised its position in Penumbra by 3.9% in the third quarter. Legacy Wealth Asset Management LLC now owns 1,731 shares of the company’s stock worth $336,000 after acquiring an additional 65 shares during the period. Finally, UMB Bank n.a. boosted its stake in Penumbra by 57.4% in the fourth quarter. UMB Bank n.a. now owns 192 shares of the company’s stock valued at $46,000 after acquiring an additional 70 shares during the last quarter. 88.88% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $244.49, for a total transaction of $146,694.00. Following the completion of the sale, the executive vice president now owns 63,444 shares in the company, valued at approximately $15,511,423.56. This trade represents a 0.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Adam Elsesser sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $237.28, for a total transaction of $3,559,200.00. Following the completion of the transaction, the chief executive officer now owns 852,582 shares in the company, valued at approximately $202,300,656.96. This trade represents a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,819 shares of company stock worth $8,129,483 over the last ninety days. 5.00% of the stock is owned by corporate insiders.

Penumbra Trading Down 1.7 %

Penumbra stock opened at $261.36 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.25 and a current ratio of 5.82. Penumbra, Inc. has a fifty-two week low of $148.00 and a fifty-two week high of $277.89. The stock has a market cap of $10.03 billion, a P/E ratio of 303.90, a PEG ratio of 1.96 and a beta of 0.53. The firm’s fifty day moving average price is $252.00 and its 200-day moving average price is $220.25.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. UBS Group started coverage on shares of Penumbra in a research note on Tuesday, January 21st. They set a “buy” rating and a $305.00 price target for the company. Truist Financial upped their price target on Penumbra from $240.00 to $285.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Needham & Company LLC reissued a “hold” rating on shares of Penumbra in a report on Thursday, October 31st. Wells Fargo & Company raised shares of Penumbra from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $190.00 to $275.00 in a report on Wednesday, December 11th. Finally, Oppenheimer started coverage on shares of Penumbra in a research note on Tuesday, December 17th. They issued an “outperform” rating and a $275.00 target price for the company. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $261.36.

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.