Laird Norton Wetherby Wealth Management LLC Reduces Stock Position in Penumbra, Inc. (NYSE:PEN)

Laird Norton Wetherby Wealth Management LLC cut its holdings in shares of Penumbra, Inc. (NYSE:PEN) by 0.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 26,577 shares of the company’s stock after selling 207 shares during the quarter. Laird Norton Wetherby Wealth Management LLC owned approximately 0.07% of Penumbra worth $6,312,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. UMB Bank n.a. increased its holdings in Penumbra by 57.4% during the 4th quarter. UMB Bank n.a. now owns 192 shares of the company’s stock worth $46,000 after purchasing an additional 70 shares during the last quarter. Hurley Capital LLC purchased a new stake in Penumbra during the 4th quarter worth approximately $56,000. Huntington National Bank increased its holdings in Penumbra by 138.7% during the 4th quarter. Huntington National Bank now owns 265 shares of the company’s stock worth $63,000 after purchasing an additional 154 shares during the last quarter. Mather Group LLC. increased its holdings in Penumbra by 208.0% during the 4th quarter. Mather Group LLC. now owns 308 shares of the company’s stock worth $73,000 after purchasing an additional 208 shares during the last quarter. Finally, Jones Financial Companies Lllp increased its holdings in Penumbra by 25.0% during the 4th quarter. Jones Financial Companies Lllp now owns 375 shares of the company’s stock worth $89,000 after purchasing an additional 75 shares during the last quarter. 88.88% of the stock is currently owned by hedge funds and other institutional investors.

Penumbra Price Performance

Shares of PEN opened at $297.25 on Monday. The company has a market cap of $11.51 billion, a P/E ratio of 874.26, a PEG ratio of 2.83 and a beta of 0.53. The stock has a fifty day moving average price of $277.75 and a 200 day moving average price of $261.33. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.01 and a quick ratio of 3.25. Penumbra, Inc. has a 12 month low of $148.00 and a 12 month high of $310.00.

Penumbra (NYSE:PEN) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.17. The firm had revenue of $324.14 million during the quarter, compared to the consensus estimate of $315.72 million. Penumbra had a return on equity of 9.74% and a net margin of 1.17%. The firm’s revenue was up 16.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.41 EPS. On average, research analysts forecast that Penumbra, Inc. will post 3.67 earnings per share for the current year.

Analyst Upgrades and Downgrades

PEN has been the topic of several analyst reports. Stifel Nicolaus set a $318.00 price objective on Penumbra and gave the stock a “buy” rating in a report on Thursday, April 24th. Wells Fargo & Company boosted their price target on Penumbra from $305.00 to $315.00 and gave the company an “overweight” rating in a report on Thursday, April 24th. BTIG Research reiterated a “buy” rating on shares of Penumbra in a report on Thursday, April 24th. StockNews.com upgraded Penumbra from a “hold” rating to a “buy” rating in a report on Thursday, April 24th. Finally, Bank of America assumed coverage on Penumbra in a report on Friday, March 14th. They issued a “buy” rating and a $320.00 price target for the company. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Penumbra currently has a consensus rating of “Moderate Buy” and an average target price of $302.40.

Insiders Place Their Bets

In other Penumbra news, CEO Adam Elsesser sold 16,650 shares of the business’s stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $289.37, for a total transaction of $4,818,010.50. Following the completion of the transaction, the chief executive officer now owns 75,237 shares in the company, valued at approximately $21,771,330.69. The trade was a 18.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Maggie Yuen sold 2,000 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $286.00, for a total value of $572,000.00. Following the completion of the sale, the chief financial officer now owns 15,243 shares of the company’s stock, valued at approximately $4,359,498. This trade represents a 11.60% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 159,096 shares of company stock worth $44,959,983. 4.20% of the stock is owned by company 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.