CW Advisors LLC Decreases Holdings in Penumbra, Inc. $PEN

CW Advisors LLC lowered its holdings in Penumbra, Inc. (NYSE:PEN) by 11.6% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 64,346 shares of the company’s stock after selling 8,471 shares during the quarter. CW Advisors LLC owned about 0.16% of Penumbra worth $16,513,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in PEN. Parkside Financial Bank & Trust boosted its holdings in Penumbra by 70.2% in the second quarter. Parkside Financial Bank & Trust now owns 160 shares of the company’s stock valued at $41,000 after purchasing an additional 66 shares in the last quarter. AlphaQuest LLC purchased a new stake in shares of Penumbra during the 1st quarter worth approximately $66,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Penumbra in the 1st quarter valued at $76,000. Spire Wealth Management purchased a new position in shares of Penumbra in the 2nd quarter valued at $91,000. Finally, IFP Advisors Inc grew its position in shares of Penumbra by 6,600.0% in the 2nd quarter. IFP Advisors Inc now owns 670 shares of the company’s stock valued at $172,000 after buying an additional 660 shares during the last quarter. Institutional investors and hedge funds own 88.88% of the company’s stock.

Insider Activity

In other news, Director Harpreet Grewal sold 100 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $292.98, for a total value of $29,298.00. Following the completion of the sale, the director directly owned 8,416 shares of the company’s stock, valued at $2,465,719.68. This trade represents a 1.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $294.94, for a total value of $176,964.00. Following the completion of the sale, the executive vice president owned 64,136 shares in the company, valued at approximately $18,916,271.84. This trade represents a 0.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 19,444 shares of company stock worth $5,665,135 in the last three months. 5.00% of the stock is currently owned by company insiders.

Penumbra Stock Performance

NYSE:PEN opened at $285.65 on Thursday. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.73 and a quick ratio of 4.18. The firm has a market cap of $11.19 billion, a price-to-earnings ratio of 68.34, a price-to-earnings-growth ratio of 2.41 and a beta of 0.66. The firm’s fifty day moving average price is $262.30 and its 200 day moving average price is $257.78. Penumbra, Inc. has a 1-year low of $221.26 and a 1-year high of $310.00.

Penumbra (NYSE:PEN) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.07. The company had revenue of $354.69 million during the quarter, compared to the consensus estimate of $340.77 million. Penumbra had a net margin of 12.30% and a return on equity of 11.35%. Penumbra’s quarterly revenue was up 17.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.85 EPS. On average, sell-side analysts expect that Penumbra, Inc. will post 3.67 EPS for the current year.

Wall Street Analysts Forecast Growth

PEN has been the subject of several research analyst reports. Wall Street Zen downgraded shares of Penumbra from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Truist Financial decreased their target price on Penumbra from $310.00 to $300.00 and set a “buy” rating for the company in a research report on Wednesday, October 15th. Weiss Ratings restated a “hold (c+)” rating on shares of Penumbra in a research note on Tuesday, November 25th. BTIG Research reaffirmed a “buy” rating and set a $320.00 price target on shares of Penumbra in a research report on Monday, October 27th. Finally, Wells Fargo & Company initiated coverage on Penumbra in a report on Tuesday, November 18th. They issued an “underweight” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $305.69.

Penumbra Company 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.