300 Shares in Penumbra, Inc. (NYSE:PEN) Bought by WASHINGTON TRUST Co

WASHINGTON TRUST Co acquired a new position in Penumbra, Inc. (NYSE:PEN) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 300 shares of the company’s stock, valued at approximately $54,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of Penumbra by 0.9% during the first quarter. Vanguard Group Inc. now owns 3,690,660 shares of the company’s stock worth $823,681,000 after purchasing an additional 32,557 shares during the period. Dimensional Fund Advisors LP boosted its stake in Penumbra by 7.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 118,828 shares of the company’s stock valued at $29,893,000 after buying an additional 8,122 shares in the last quarter. Quadrant Capital Group LLC grew its position in Penumbra by 31.3% in the fourth quarter. Quadrant Capital Group LLC now owns 722 shares of the company’s stock worth $182,000 after buying an additional 172 shares during the last quarter. Jennison Associates LLC acquired a new stake in shares of Penumbra during the fourth quarter worth $7,503,000. Finally, First Hawaiian Bank purchased a new stake in Penumbra during the second quarter valued at about $1,597,000. 88.88% of the stock is owned by hedge funds and other institutional investors.

Penumbra Price Performance

NYSE PEN traded up $18.25 during trading hours on Tuesday, reaching $187.04. 924,142 shares of the company’s stock were exchanged, compared to its average volume of 378,733. The firm has a fifty day moving average of $181.76 and a 200-day moving average of $210.53. Penumbra, Inc. has a one year low of $148.00 and a one year high of $302.00. The stock has a market cap of $7.26 billion, a PE ratio of 78.24, a price-to-earnings-growth ratio of 1.92 and a beta of 0.55. The company has a current ratio of 6.25, a quick ratio of 3.77 and a debt-to-equity ratio of 0.02.

Penumbra (NYSE:PEN) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.08. The business had revenue of $299.40 million during the quarter, compared to analyst estimates of $298.24 million. Penumbra had a net margin of 1.26% and a return on equity of 8.39%. Penumbra’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.43 earnings per share. On average, equities research analysts predict that Penumbra, Inc. will post 2.64 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on PEN shares. Wells Fargo & Company lowered shares of Penumbra from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $289.00 to $150.00 in a research note on Wednesday, July 31st. Royal Bank of Canada reduced their price objective on shares of Penumbra from $289.00 to $205.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. Canaccord Genuity Group lowered their target price on shares of Penumbra from $272.00 to $176.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Morgan Stanley cut their target price on shares of Penumbra from $235.00 to $210.00 and set an “equal weight” rating for the company in a research report on Monday, July 15th. Finally, BTIG Research reduced their price objective on Penumbra from $232.00 to $187.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Penumbra currently has an average rating of “Moderate Buy” and an average target price of $193.60.

Insider Buying and Selling at Penumbra

In related news, CEO Adam Elsesser sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $202.52, for a total transaction of $3,037,800.00. Following the completion of the sale, the chief executive officer now directly owns 927,582 shares of the company’s stock, valued at $187,853,906.64. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Penumbra news, CEO Adam Elsesser sold 15,000 shares of the company’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $202.52, for a total transaction of $3,037,800.00. Following the completion of the sale, the chief executive officer now owns 927,582 shares in the company, valued at approximately $187,853,906.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Don W. Kassing sold 170 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $179.99, for a total value of $30,598.30. Following the transaction, the director now owns 1,005 shares in the company, valued at approximately $180,889.95. The disclosure for this sale can be found here. In the last three months, insiders have sold 31,370 shares of company stock worth $6,303,958. Company insiders own 5.00% of the company’s stock.

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.