Penumbra, Inc. $PEN Shares Sold by Washington Trust Advisors Inc.

Washington Trust Advisors Inc. trimmed its holdings in shares of Penumbra, Inc. (NYSE:PEN) by 58.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,671 shares of the company’s stock after selling 11,015 shares during the quarter. Washington Trust Advisors Inc.’s holdings in Penumbra were worth $2,422,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Penumbra in the second quarter worth about $25,000. Larson Financial Group LLC increased its holdings in shares of Penumbra by 4,100.0% during the fourth quarter. Larson Financial Group LLC now owns 84 shares of the company’s stock valued at $26,000 after acquiring an additional 82 shares in the last quarter. CIBC Private Wealth Group LLC raised its position in shares of Penumbra by 2,700.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 84 shares of the company’s stock valued at $26,000 after purchasing an additional 81 shares during the last quarter. Motiv8 Investments LLC purchased a new position in shares of Penumbra in the 4th quarter valued at approximately $27,000. Finally, Keating Financial Advisory Services Inc. acquired a new stake in Penumbra in the 2nd quarter worth approximately $31,000. 88.88% of the stock is currently owned by hedge funds and other institutional investors.

Penumbra Price Performance

Shares of NYSE:PEN opened at $322.28 on Monday. Penumbra, Inc. has a twelve month low of $221.26 and a twelve month high of $362.41. The company has a current ratio of 5.75, a quick ratio of 3.86 and a debt-to-equity ratio of 0.01. The company has a market cap of $12.69 billion, a PE ratio of 79.18, a price-to-earnings-growth ratio of 2.21 and a beta of 0.70. The company’s 50 day moving average is $321.25 and its 200 day moving average is $326.19.

Penumbra (NYSE:PEN) last announced its quarterly earnings data on Thursday, July 30th. The company reported $0.88 EPS for the quarter, missing the consensus estimate of $1.16 by ($0.28). The business had revenue of $390.05 million for the quarter, compared to analyst estimates of $389.64 million. Penumbra had a net margin of 10.67% and a return on equity of 10.50%. The business’s revenue was up 14.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.86 earnings per share. On average, sell-side analysts forecast that Penumbra, Inc. will post 4.96 EPS for the current year.

Wall Street Analysts Forecast Growth

PEN has been the topic of a number of recent analyst reports. Royal Bank Of Canada restated a “sector perform” rating and set a $374.00 price target on shares of Penumbra in a research note on Thursday, June 11th. Evercore reissued an “outperform” rating and set a $320.00 price objective on shares of Penumbra in a report on Monday, July 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Penumbra in a research report on Friday, July 17th. Finally, Zacks Research upgraded Penumbra from a “strong sell” rating to a “hold” rating in a research note on Monday, August 24th. Three analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $367.07.

Penumbra Profile

Penumbra, Inc is a global healthcare company specializing in the development and manufacture of innovative medical devices that address neurovascular and peripheral vascular conditions. The company focuses on products designed to improve patient outcomes in acute ischemic stroke, aneurysm treatment and peripheral thrombectomy. Penumbra’s technologies are used by interventional neuroradiologists, neurosurgeons and interventional cardiologists in hospitals and clinics around the world.

At the core of Penumbra’s portfolio is its mechanical thrombectomy platform, which includes aspiration catheters and accessory devices engineered to remove blood clots in acute stroke cases.