Penumbra, Inc. (NYSE:PEN) Shares Bought by Onyx Bridge Wealth Group LLC

Onyx Bridge Wealth Group LLC grew its holdings in shares of Penumbra, Inc. (NYSE:PEN) by 22.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,575 shares of the company’s stock after purchasing an additional 650 shares during the quarter. Onyx Bridge Wealth Group LLC’s holdings in Penumbra were worth $899,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PEN. Captrust Financial Advisors boosted its stake in Penumbra by 44.1% during the 2nd quarter. Captrust Financial Advisors now owns 219 shares of the company’s stock worth $27,000 after purchasing an additional 67 shares during the last quarter. Altshuler Shaham Ltd purchased a new position in shares of Penumbra during the 4th quarter worth $27,000. RiverPark Advisors LLC purchased a new position in shares of Penumbra during the 3rd quarter worth $42,000. Coppell Advisory Solutions LLC purchased a new position in shares of Penumbra during the 2nd quarter worth $47,000. Finally, Belpointe Asset Management LLC raised its holdings in shares of Penumbra by 56.2% during the 1st quarter. Belpointe Asset Management LLC now owns 228 shares of the company’s stock worth $64,000 after acquiring an additional 82 shares during the period. Institutional investors and hedge funds own 88.88% of the company’s stock.

Penumbra Stock Performance

NYSE PEN traded up $1.21 on Friday, reaching $203.05. The stock had a trading volume of 338,648 shares, compared to its average volume of 343,339. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.49 and a current ratio of 6.06. Penumbra, Inc. has a 12-month low of $180.93 and a 12-month high of $348.67. The business’s 50-day moving average price is $234.52 and its 200 day moving average price is $232.52. The stock has a market cap of $7.86 billion, a P/E ratio of 87.90, a price-to-earnings-growth ratio of 2.06 and a beta of 0.51.

Penumbra (NYSE:PEN) last released its quarterly earnings results on Thursday, February 22nd. The company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.71 by $0.05. The business had revenue of $284.68 million during the quarter, compared to analysts’ expectations of $286.62 million. Penumbra had a return on equity of 7.49% and a net margin of 8.59%. The company’s quarterly revenue was up 28.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.16 earnings per share. As a group, equities analysts expect that Penumbra, Inc. will post 2.85 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PEN. Canaccord Genuity Group restated a “buy” rating and issued a $284.00 price objective on shares of Penumbra in a report on Friday, February 23rd. TheStreet raised Penumbra from a “d+” rating to a “c-” rating in a research report on Friday, January 12th. Truist Financial dropped their target price on Penumbra from $290.00 to $280.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. JPMorgan Chase & Co. downgraded Penumbra from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $284.00 to $250.00 in a research report on Friday, February 23rd. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $290.00 target price on shares of Penumbra in a research report on Wednesday, April 3rd. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $304.45.

Insiders Place Their Bets

In other Penumbra news, EVP Johanna Roberts sold 600 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $237.68, for a total value of $142,608.00. Following the completion of the transaction, the executive vice president now owns 62,997 shares in the company, valued at $14,973,126.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Penumbra news, EVP Johanna Roberts sold 600 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $237.68, for a total value of $142,608.00. Following the completion of the transaction, the executive vice president now owns 62,997 shares in the company, valued at $14,973,126.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Don W. Kassing sold 778 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $234.72, for a total value of $182,612.16. Following the completion of the sale, the director now directly owns 1,345 shares in the company, valued at approximately $315,698.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,648 shares of company stock worth $2,369,903. 5.30% of the stock is owned by corporate 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.