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

Washington Trust Advisors Inc. reduced its position in Penumbra, Inc. (NYSE:PEN) by 22.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,928 shares of the company’s stock after selling 1,743 shares during the quarter. Washington Trust Advisors Inc.’s holdings in Penumbra were worth $1,887,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Crossmark Global Holdings Inc. lifted its holdings in shares of Penumbra by 12.6% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 3,112 shares of the company’s stock worth $991,000 after acquiring an additional 349 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of Penumbra by 31.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 366 shares of the company’s stock worth $117,000 after acquiring an additional 87 shares in the last quarter. Fragasso Financial Advisors Inc acquired a new stake in shares of Penumbra during the 3rd quarter worth approximately $251,000. GAMMA Investing LLC increased its stake in Penumbra by 97.0% in the third quarter. GAMMA Investing LLC now owns 2,622 shares of the company’s stock valued at $835,000 after acquiring an additional 1,291 shares during the last quarter. Finally, CoreCap Advisors LLC increased its stake in Penumbra by 1,066.7% in the third quarter. CoreCap Advisors LLC now owns 140 shares of the company’s stock valued at $45,000 after acquiring an additional 128 shares during the last quarter. 88.88% of the stock is currently owned by institutional investors and hedge funds.

Penumbra Price Performance

Shares of PEN traded down $0.20 during mid-day trading on Friday, reaching $324.76. The company had a trading volume of 357,894 shares, compared to its average volume of 321,789. The company’s 50 day simple moving average is $320.93 and its 200 day simple moving average is $322.02. Penumbra, Inc. has a 1-year low of $221.26 and a 1-year high of $362.41. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.86 and a current ratio of 5.75. The company has a market capitalization of $12.79 billion, a price-to-earnings ratio of 79.79, a P/E/G ratio of 2.23 and a beta of 0.70.

Penumbra (NYSE:PEN) last announced its quarterly earnings results on Thursday, July 30th. The company reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.16 by ($0.28). The company had revenue of $390.05 million for the quarter, compared to the consensus estimate of $389.64 million. Penumbra had a net margin of 10.67% and a return on equity of 10.50%. The company’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same period last year, the firm posted $0.86 earnings per share. Analysts expect that Penumbra, Inc. will post 4.96 EPS for the current year.

Wall Street Analysts Forecast Growth

PEN has been the subject of several research analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Penumbra in a research report on Thursday, October 15th. Evercore restated an “outperform” rating and set a $320.00 target price on shares of Penumbra in a research note on Monday, July 6th. Finally, Zacks Research raised Penumbra from a “strong sell” rating to a “hold” rating in a report on Monday, August 24th. Three analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $367.07.

Penumbra Profile

Penumbra, Inc is a medical device company that develops, manufactures and markets products used to treat patients with vascular conditions. Its technologies are primarily designed for minimally invasive procedures in the neurovascular and peripheral vascular markets, including the treatment of ischemic stroke, brain aneurysms and other vascular disorders.

The company’s product portfolio includes aspiration and mechanical thrombectomy systems for removing blood clots, embolization devices for blocking abnormal blood flow, and access and delivery products used during endovascular procedures.