Calamos Advisors LLC Makes New Investment in Penumbra, Inc. (NYSE:PEN)

Calamos Advisors LLC acquired a new stake in Penumbra, Inc. (NYSE:PEN) during the fourth quarter, HoldingsChannel reports. The firm acquired 14,415 shares of the company’s stock, valued at approximately $3,423,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. FMR LLC raised its holdings in Penumbra by 2.1% during the third quarter. FMR LLC now owns 5,896,396 shares of the company’s stock worth $1,145,729,000 after purchasing an additional 121,465 shares in the last quarter. Champlain Investment Partners LLC grew its position in shares of Penumbra by 20.6% in the 3rd quarter. Champlain Investment Partners LLC now owns 1,547,972 shares of the company’s stock valued at $300,786,000 after buying an additional 264,122 shares during the last quarter. State Street Corp raised its stake in Penumbra by 0.3% during the 3rd quarter. State Street Corp now owns 1,236,671 shares of the company’s stock worth $240,298,000 after acquiring an additional 3,863 shares in the last quarter. RTW Investments LP lifted its position in Penumbra by 7.2% in the third quarter. RTW Investments LP now owns 795,750 shares of the company’s stock valued at $154,622,000 after acquiring an additional 53,645 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its stake in Penumbra by 128.1% in the third quarter. Janus Henderson Group PLC now owns 668,873 shares of the company’s stock valued at $129,967,000 after acquiring an additional 375,684 shares in the last quarter. Institutional investors and hedge funds own 88.88% of the company’s stock.

Insider Buying and Selling at Penumbra

In other Penumbra news, CAO Lambert Shiu sold 1,798 shares of Penumbra stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $242.56, for a total transaction of $436,122.88. Following the completion of the transaction, the chief accounting officer now owns 20,682 shares in the company, valued at approximately $5,016,625.92. The trade was a 8.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Harpreet Grewal sold 167 shares of the stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $241.28, for a total transaction of $40,293.76. Following the completion of the sale, the director now owns 8,530 shares in the company, valued at $2,058,118.40. This represents a 1.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,819 shares of company stock valued at $8,129,483. Insiders own 5.00% of the company’s stock.

Penumbra Stock Performance

PEN opened at $261.88 on Wednesday. The stock’s 50 day simple moving average is $251.31 and its 200 day simple moving average is $219.42. The stock has a market cap of $10.05 billion, a P/E ratio of 304.52, a P/E/G ratio of 1.96 and a beta of 0.53. Penumbra, Inc. has a 1-year low of $148.00 and a 1-year high of $277.89. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.82 and a quick ratio of 3.25.

Wall Street Analyst Weigh In

PEN has been the subject of a number of research analyst reports. Royal Bank of Canada upped their target price on Penumbra from $205.00 to $222.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Canaccord Genuity Group raised their target price on shares of Penumbra from $260.00 to $323.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. UBS Group assumed coverage on shares of Penumbra in a research report on Tuesday, January 21st. They issued a “buy” rating and a $305.00 price target for the company. BTIG Research raised their price objective on shares of Penumbra from $232.00 to $270.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, Piper Sandler upped their target price on shares of Penumbra from $235.00 to $250.00 and gave the company an “overweight” rating in a report on Wednesday, November 20th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $261.36.

Penumbra Company 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.