Washington Trust Advisors Inc. Has $4.18 Million Stock Holdings in Penumbra, Inc. (NYSE:PEN)

Washington Trust Advisors Inc. lifted its holdings in Penumbra, Inc. (NYSE:PEN) by 2.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 21,506 shares of the company’s stock after purchasing an additional 541 shares during the quarter. Washington Trust Advisors Inc. owned about 0.06% of Penumbra worth $4,179,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Silvercrest Asset Management Group LLC increased its position in Penumbra by 3.4% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 1,680 shares of the company’s stock worth $375,000 after buying an additional 55 shares during the period. ProShare Advisors LLC lifted its stake in Penumbra by 2.9% in the second quarter. ProShare Advisors LLC now owns 2,171 shares of the company’s stock valued at $391,000 after buying an additional 62 shares during the period. Legacy Wealth Asset Management LLC lifted its stake in Penumbra by 3.9% in the third quarter. Legacy Wealth Asset Management LLC now owns 1,731 shares of the company’s stock valued at $336,000 after buying an additional 65 shares during the period. Creative Planning raised its position in shares of Penumbra by 4.7% during the third quarter. Creative Planning now owns 1,574 shares of the company’s stock worth $306,000 after purchasing an additional 71 shares during the period. Finally, Arcadia Investment Management Corp MI raised its position in shares of Penumbra by 7.9% during the second quarter. Arcadia Investment Management Corp MI now owns 1,006 shares of the company’s stock worth $181,000 after purchasing an additional 74 shares during the period. Institutional investors and hedge funds own 88.88% of the company’s stock.

Penumbra Stock Up 1.5 %

Shares of NYSE:PEN opened at $236.53 on Friday. The company has a quick ratio of 3.25, a current ratio of 5.82 and a debt-to-equity ratio of 0.02. The stock has a market cap of $9.08 billion, a P/E ratio of 275.03, a price-to-earnings-growth ratio of 2.37 and a beta of 0.51. The business’s 50 day moving average is $203.91 and its 200 day moving average is $194.92. Penumbra, Inc. has a 52-week low of $148.00 and a 52-week high of $277.34.

Penumbra (NYSE:PEN) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.69 by $0.16. Penumbra had a return on equity of 8.99% and a net margin of 2.97%. The firm had revenue of $301.04 million during the quarter, compared to analyst estimates of $297.36 million. During the same quarter in the prior year, the business posted $0.67 EPS. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. Sell-side analysts predict that Penumbra, Inc. will post 2.79 EPS for the current year.

Penumbra announced that its board has initiated a share buyback plan on Tuesday, August 13th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the company to repurchase up to 2.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Penumbra

In related news, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $175.98, for a total value of $105,588.00. Following the sale, the executive vice president now directly owns 61,688 shares in the company, valued at approximately $10,855,854.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Adam Elsesser sold 15,000 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $197.71, for a total transaction of $2,965,650.00. Following the completion of the sale, the chief executive officer now owns 882,582 shares in the company, valued at approximately $174,495,287.22. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Johanna Roberts sold 600 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $175.98, for a total transaction of $105,588.00. Following the sale, the executive vice president now owns 61,688 shares of the company’s stock, valued at $10,855,854.24. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,368 shares of company stock worth $6,893,118. Insiders own 5.00% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on PEN shares. Canaccord Genuity Group upped their price objective on Penumbra from $176.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Royal Bank of Canada increased their price objective on Penumbra from $205.00 to $222.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Citigroup increased their price objective on Penumbra from $178.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, August 22nd. BTIG Research increased their price objective on Penumbra from $224.00 to $234.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Finally, Morgan Stanley dropped their price objective on Penumbra from $235.00 to $210.00 and set an “equal weight” rating on the stock in a report on Monday, July 15th. Five research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $226.67.

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.