WCM Investment Management LLC Buys New Position in Penumbra, Inc. (NYSE:PEN)

WCM Investment Management LLC purchased a new position in Penumbra, Inc. (NYSE:PEN) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 56,472 shares of the company’s stock, valued at approximately $13,451,000. WCM Investment Management LLC owned 0.15% of Penumbra as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in PEN. Pallas Capital Advisors LLC increased its position in Penumbra by 3.8% during the fourth quarter. Pallas Capital Advisors LLC now owns 1,108 shares of the company’s stock worth $263,000 after acquiring an additional 41 shares during the period. Advisors Asset Management Inc. increased its holdings in shares of Penumbra by 11.5% during the 3rd quarter. Advisors Asset Management Inc. now owns 416 shares of the company’s stock worth $81,000 after purchasing an additional 43 shares during the period. Pacer Advisors Inc. increased its holdings in shares of Penumbra by 1.0% during the 4th quarter. Pacer Advisors Inc. now owns 5,721 shares of the company’s stock worth $1,359,000 after purchasing an additional 57 shares during the period. Legacy Wealth Asset Management LLC raised its position in shares of Penumbra by 3.9% during the third quarter. Legacy Wealth Asset Management LLC now owns 1,731 shares of the company’s stock valued at $336,000 after buying an additional 65 shares during the last quarter. Finally, UMB Bank n.a. lifted its stake in shares of 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 buying an additional 70 shares during the period. 88.88% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Penumbra news, CAO Lambert Shiu sold 1,798 shares of the business’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $242.56, for a total value of $436,122.88. Following the transaction, the chief accounting officer now owns 20,682 shares of the company’s stock, valued at approximately $5,016,625.92. The trade was a 8.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Johanna Roberts sold 600 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $244.49, for a total value of $146,694.00. Following the completion of the sale, the executive vice president now owns 63,444 shares of the company’s stock, valued at approximately $15,511,423.56. This trade represents a 0.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,819 shares of company stock worth $8,129,483 in the last three months. Insiders own 5.00% of the company’s stock.

Penumbra Stock Performance

NYSE PEN opened at $260.68 on Monday. Penumbra, Inc. has a 1-year low of $148.00 and a 1-year high of $277.89. The company has a 50 day moving average of $252.66 and a 200-day moving average of $221.24. The company has a current ratio of 5.82, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02. The firm has a market cap of $10.00 billion, a price-to-earnings ratio of 303.12, a PEG ratio of 1.92 and a beta of 0.53.

Analyst Ratings Changes

Several equities analysts recently issued reports on PEN shares. Wells Fargo & Company upgraded Penumbra from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $190.00 to $275.00 in a research note on Wednesday, December 11th. Robert W. Baird boosted their price objective on Penumbra from $244.00 to $248.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Piper Sandler raised their target price on Penumbra from $235.00 to $250.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 20th. Canaccord Genuity Group boosted their price target on shares of Penumbra from $260.00 to $323.00 and gave the company a “buy” rating in a report on Monday, December 9th. Finally, Oppenheimer began coverage on shares of Penumbra in a research note on Tuesday, December 17th. They issued an “outperform” rating and a $275.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average 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.