Wetherby Asset Management Inc. cut its stake in shares of Penumbra Inc (NYSE:PEN) by 5.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 18,983 shares of the company’s stock after selling 1,144 shares during the period. Wetherby Asset Management Inc. owned 0.06% of Penumbra worth $2,320,000 as of its most recent filing with the SEC.
Other institutional investors also recently bought and sold shares of the company. Wells Fargo & Company MN grew its holdings in Penumbra by 16.3% during the 3rd quarter. Wells Fargo & Company MN now owns 34,160 shares of the company’s stock valued at $5,115,000 after purchasing an additional 4,794 shares during the last quarter. Vanguard Group Inc. increased its position in Penumbra by 2.7% during the 3rd quarter. Vanguard Group Inc. now owns 2,646,066 shares of the company’s stock worth $396,116,000 after purchasing an additional 68,479 shares in the last quarter. Marshall Wace LLP bought a new stake in Penumbra in the third quarter valued at $8,630,000. Asymmetry Capital Management L.P. purchased a new position in Penumbra in the 3rd quarter worth about $1,974,000. Finally, Congress Asset Management Co. MA acquired a new stake in shares of Penumbra during the 4th quarter valued at about $4,888,000. Hedge funds and other institutional investors own 72.70% of the company’s stock.
In other Penumbra news, Director Don W. Kassing sold 1,086 shares of the company’s stock in a transaction dated Tuesday, January 29th. The shares were sold at an average price of $136.69, for a total value of $148,445.34. Following the transaction, the director now directly owns 2,487 shares in the company, valued at approximately $339,948.03. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Harpreet Grewal sold 666 shares of the firm’s stock in a transaction that occurred on Thursday, January 3rd. The stock was sold at an average price of $121.27, for a total transaction of $80,765.82. Following the sale, the director now directly owns 13,247 shares of the company’s stock, valued at approximately $1,606,463.69. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,952 shares of company stock worth $399,839. 10.70% of the stock is owned by company insiders.
Several brokerages have commented on PEN. Bank of America reaffirmed a “buy” rating and set a $36.00 target price on shares of Penumbra in a report on Monday, October 29th. Zacks Investment Research cut shares of Penumbra from a “buy” rating to a “hold” rating in a research report on Tuesday, November 6th. BMO Capital Markets lifted their price target on shares of Penumbra from $150.00 to $152.00 and gave the company a “market perform” rating in a research report on Tuesday, November 6th. Canaccord Genuity upped their target price on shares of Penumbra from $138.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, January 30th. Finally, ValuEngine raised Penumbra from a “hold” rating to a “buy” rating in a research report on Monday, February 4th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $143.43.
Shares of Penumbra stock traded up $0.01 during trading hours on Friday, reaching $146.34. The company’s stock had a trading volume of 283,932 shares, compared to its average volume of 287,048. Penumbra Inc has a one year low of $98.60 and a one year high of $167.35. The company has a market cap of $5.14 billion, a PE ratio of -14,634.00, a price-to-earnings-growth ratio of 10.25 and a beta of 0.85.
Penumbra Company Profile
Penumbra, Inc designs, develops, manufactures, and markets medical devices in the United States, Europe, Canada, Australia, Japan, and internationally. The company offers neurovascular access systems designed to provide intracranial access for use in a range of neurovascular therapies under the Neuron, Neuron MAX, Select, BENCHMARK, DDC, and PX SLIM brands; aspiration based thrombectomy systems and accessory devices, including revascularization device for mechanical thrombectomy, such as Penumbra System under the ACE and the 3D Revascularization Device brands.
See Also: Retained Earnings
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