Calamos Advisors LLC Acquires New Stake in Penumbra, Inc. (NYSE:PEN)

Calamos Advisors LLC bought a new position in shares of Penumbra, Inc. (NYSE:PEN) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 14,415 shares of the company’s stock, valued at approximately $3,423,000.

A number of other large investors have also modified their holdings of the business. Janus Henderson Group PLC boosted its stake in Penumbra by 128.1% during the third quarter. Janus Henderson Group PLC now owns 668,873 shares of the company’s stock worth $129,967,000 after buying an additional 375,684 shares during the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of Penumbra by 3,832.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 368,298 shares of the company’s stock worth $71,564,000 after acquiring an additional 358,932 shares during the period. Champlain Investment Partners LLC boosted its position in shares of Penumbra by 20.6% during the 3rd quarter. Champlain Investment Partners LLC now owns 1,547,972 shares of the company’s stock valued at $300,786,000 after acquiring an additional 264,122 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in shares of Penumbra in the third quarter valued at about $31,965,000. Finally, Braidwell LP increased its position in Penumbra by 70.0% during the third quarter. Braidwell LP now owns 361,428 shares of the company’s stock worth $70,229,000 after purchasing an additional 148,834 shares during the last quarter. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Insider Activity

In other Penumbra news, Director Harpreet Grewal sold 167 shares of the company’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $241.28, for a total transaction of $40,293.76. Following 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Adam Elsesser sold 15,000 shares of Penumbra stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $237.28, for a total value of $3,559,200.00. Following the completion of the transaction, the chief executive officer now owns 852,582 shares of the company’s stock, valued at $202,300,656.96. The trade was a 1.73 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,819 shares of company stock worth $8,129,483. Corporate insiders own 5.00% of the company’s stock.

Penumbra Price Performance

Penumbra stock opened at $261.88 on Wednesday. The company’s 50 day moving average is $251.31 and its two-hundred day moving average is $219.42. The firm has a market cap of $10.05 billion, a PE ratio of 304.52, a price-to-earnings-growth ratio of 1.96 and a beta of 0.53. The company has a quick ratio of 3.25, a current ratio of 5.82 and a debt-to-equity ratio of 0.02. Penumbra, Inc. has a 52-week low of $148.00 and a 52-week high of $277.89.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Citigroup boosted their target price on shares of Penumbra from $220.00 to $245.00 and gave the company a “neutral” rating in a report on Wednesday, December 11th. Canaccord Genuity Group increased their price objective on Penumbra from $260.00 to $323.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Robert W. Baird lifted their target price on Penumbra from $244.00 to $248.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. UBS Group began coverage on Penumbra in a report on Tuesday, January 21st. They set a “buy” rating and a $305.00 price target for the company. Finally, Piper Sandler boosted their price objective 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 investment 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 MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price 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.