Wilmington Savings Fund Society FSB Decreases Holdings in Penumbra, Inc. (NYSE:PEN)

Wilmington Savings Fund Society FSB cut its stake in Penumbra, Inc. (NYSE:PEN) by 16.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,000 shares of the company’s stock after selling 6,000 shares during the quarter. Wilmington Savings Fund Society FSB owned about 0.08% of Penumbra worth $7,124,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. True Wealth Design LLC acquired a new stake in Penumbra in the third quarter valued at approximately $26,000. GAMMA Investing LLC boosted its stake in shares of Penumbra by 111.1% in the third quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock valued at $33,000 after purchasing an additional 90 shares during the period. UMB Bank n.a. grew its holdings in Penumbra by 57.4% during 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 in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Penumbra by 1,845.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 389 shares of the company’s stock worth $70,000 after buying an additional 369 shares during the period. Finally, Mather Group LLC. boosted its position 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 buying an additional 208 shares during the last quarter. Institutional investors and hedge funds own 88.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. UBS Group started coverage on Penumbra in a research report on Tuesday, January 21st. They set a “buy” rating and a $305.00 target price on the stock. Citigroup upped their target price on Penumbra from $220.00 to $245.00 and gave the company a “neutral” rating in a research report on Wednesday, December 11th. Piper Sandler increased their price objective on shares of Penumbra from $235.00 to $250.00 and gave the company an “overweight” rating in a research note on Wednesday, November 20th. Needham & Company LLC restated a “hold” rating on shares of Penumbra in a research note on Thursday, October 31st. Finally, Truist Financial lifted their target price on Penumbra from $240.00 to $285.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $261.36.

Insider Buying and Selling

In related news, CAO Lambert Shiu sold 1,798 shares of Penumbra stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $242.56, for a total transaction of $436,122.88. Following the transaction, the chief accounting officer now directly owns 20,682 shares of the company’s stock, valued at $5,016,625.92. The trade was a 8.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Adam Elsesser sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $237.28, for a total transaction of $3,559,200.00. Following the transaction, the chief executive officer now owns 852,582 shares of the company’s stock, valued at approximately $202,300,656.96. This trade represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,819 shares of company stock valued at $8,129,483 over the last 90 days. 5.00% of the stock is currently owned by company insiders.

Penumbra Stock Down 0.3 %

PEN opened at $260.68 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.82 and a quick ratio of 3.25. Penumbra, Inc. has a 12 month low of $148.00 and a 12 month high of $277.89. The stock’s 50 day moving average price is $252.35 and its 200 day moving average price is $220.54. The stock has a market cap of $10.00 billion, a P/E ratio of 303.12, a P/E/G ratio of 1.92 and a beta of 0.53.

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.