Penumbra, Inc. (NYSE:PEN) Shares Sold by Banque Pictet & Cie SA

Banque Pictet & Cie SA lowered its position in Penumbra, Inc. (NYSE:PEN) by 8.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 19,160 shares of the company’s stock after selling 1,761 shares during the period. Banque Pictet & Cie SA’s holdings in Penumbra were worth $4,550,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Pallas Capital Advisors LLC increased its position in shares of Penumbra by 3.8% in the fourth quarter. Pallas Capital Advisors LLC now owns 1,108 shares of the company’s stock valued at $263,000 after buying an additional 41 shares in the last quarter. Advisors Asset Management Inc. increased its position in shares of Penumbra by 11.5% in the third quarter. Advisors Asset Management Inc. now owns 416 shares of the company’s stock valued at $81,000 after buying an additional 43 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of Penumbra by 1.0% in the fourth quarter. Pacer Advisors Inc. now owns 5,721 shares of the company’s stock valued at $1,359,000 after buying an additional 57 shares in the last quarter. Legacy Wealth Asset Management LLC increased its position in shares of 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 in the last quarter. Finally, UMB Bank n.a. increased its position in shares of Penumbra by 57.4% in the fourth quarter. UMB Bank n.a. now owns 192 shares of the company’s stock valued at $46,000 after buying an additional 70 shares in the last quarter. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on PEN shares. Robert W. Baird raised their price target on Penumbra from $244.00 to $248.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Needham & Company LLC reiterated a “hold” rating on shares of Penumbra in a research report on Thursday, October 31st. Citigroup lifted their price objective on Penumbra from $220.00 to $245.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 11th. UBS Group started coverage on Penumbra in a research report on Tuesday, January 21st. They set a “buy” rating and a $305.00 price objective for the company. Finally, Truist Financial lifted their price objective on Penumbra from $240.00 to $285.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $261.36.

Penumbra Stock Down 1.9 %

Shares of NYSE:PEN opened at $267.83 on Friday. The firm has a market cap of $10.28 billion, a price-to-earnings ratio of 311.43, a PEG ratio of 1.92 and a beta of 0.53. Penumbra, Inc. has a 12-month low of $148.00 and a 12-month high of $277.89. The company has a current ratio of 5.82, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02. The stock’s 50-day moving average price is $254.43 and its two-hundred day moving average price is $223.23.

Insider Activity

In other news, Director Harpreet Grewal sold 167 shares of Penumbra stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $241.28, for a total value of $40,293.76. Following the transaction, the director now directly owns 8,530 shares of the company’s stock, valued at $2,058,118.40. The trade was a 1.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $239.74, for a total value of $143,844.00. Following the completion of the transaction, the executive vice president now directly owns 64,044 shares in the company, valued at $15,353,908.56. This represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,819 shares of company stock valued at $8,129,483 in the last three months. Corporate insiders own 5.00% of the company’s stock.

Penumbra Profile

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.