Washington Trust Advisors Inc. Sells 757 Shares of Penumbra, Inc. (NYSE:PEN)

Washington Trust Advisors Inc. cut its stake in Penumbra, Inc. (NYSE:PEN) by 3.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,749 shares of the company’s stock after selling 757 shares during the period. Washington Trust Advisors Inc. owned approximately 0.05% of Penumbra worth $4,927,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. True Wealth Design LLC bought a new stake in Penumbra in the 3rd quarter valued at $26,000. UMB Bank n.a. boosted its holdings in Penumbra by 57.4% in the 4th quarter. UMB Bank n.a. now owns 192 shares of the company’s stock valued at $46,000 after purchasing an additional 70 shares during the period. Mather Group LLC. boosted its holdings in Penumbra by 208.0% in the 4th quarter. Mather Group LLC. now owns 308 shares of the company’s stock valued at $73,000 after purchasing an additional 208 shares during the period. Advisors Asset Management Inc. boosted its holdings in Penumbra by 11.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 416 shares of the company’s stock valued at $81,000 after purchasing an additional 43 shares during the period. Finally, Jones Financial Companies Lllp boosted its holdings in Penumbra by 25.0% in the 4th quarter. Jones Financial Companies Lllp now owns 375 shares of the company’s stock valued at $89,000 after purchasing an additional 75 shares during the period. 88.88% of the stock is owned by institutional investors.

Analyst Ratings Changes

PEN has been the subject of a number of recent research reports. Robert W. Baird increased their price objective on shares of Penumbra from $305.00 to $328.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. BTIG Research increased their price objective on shares of Penumbra from $232.00 to $270.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Morgan Stanley increased their price objective on shares of Penumbra from $240.00 to $260.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 19th. UBS Group increased their price objective on shares of Penumbra from $305.00 to $320.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Finally, Truist Financial increased their price objective on shares of Penumbra from $285.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating, twelve have given 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 a consensus price target of $292.64.

Penumbra Trading Up 0.8 %

Shares of Penumbra stock opened at $285.91 on Thursday. The company has a quick ratio of 3.25, a current ratio of 6.01 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $11.01 billion, a P/E ratio of 840.91, a price-to-earnings-growth ratio of 2.83 and a beta of 0.53. Penumbra, Inc. has a 12-month low of $148.00 and a 12-month high of $310.00. The company has a 50-day simple moving average of $265.94 and a 200 day simple moving average of $234.26.

Penumbra (NYSE:PEN) last posted its quarterly earnings data on Tuesday, February 18th. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.09. The firm had revenue of $315.52 million during the quarter, compared to analysts’ expectations of $311.63 million. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. Research analysts expect that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal year.

Insider Buying and Selling at Penumbra

In other Penumbra news, CEO Adam Elsesser sold 15,000 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $242.96, for a total value of $3,644,400.00. Following the completion of the sale, the chief executive officer now owns 837,582 shares in the company, valued at approximately $203,498,922.72. This trade represents a 1.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Lambert Shiu sold 501 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $282.88, for a total transaction of $141,722.88. Following the completion of the sale, the chief accounting officer now owns 32,969 shares of the company’s stock, valued at $9,326,270.72. The trade was a 1.50 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,318 shares of company stock worth $4,585,149. 5.00% of the stock is currently owned by corporate insiders.

About Penumbra

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.