Laird Norton Wetherby Wealth Management LLC Has $6.31 Million Stock Holdings in Penumbra, Inc. (NYSE:PEN)

Laird Norton Wetherby Wealth Management LLC cut its stake in shares of Penumbra, Inc. (NYSE:PEN) by 0.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,577 shares of the company’s stock after selling 207 shares during the period. Laird Norton Wetherby Wealth Management LLC’s holdings in Penumbra were worth $6,312,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Quadrant Capital Group LLC increased its position in Penumbra by 6.6% in the 4th quarter. Quadrant Capital Group LLC now owns 632 shares of the company’s stock worth $150,000 after purchasing an additional 39 shares during the last quarter. Pallas Capital Advisors LLC increased its position in Penumbra by 3.8% in the 4th quarter. Pallas Capital Advisors LLC now owns 1,108 shares of the company’s stock worth $263,000 after purchasing an additional 41 shares during the last quarter. Baker Avenue Asset Management LP boosted its stake in shares of Penumbra by 1.6% during the 4th quarter. Baker Avenue Asset Management LP now owns 3,330 shares of the company’s stock worth $791,000 after acquiring an additional 53 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of Penumbra by 1.0% during the 4th quarter. Pacer Advisors Inc. now owns 5,721 shares of the company’s stock worth $1,359,000 after acquiring an additional 57 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its stake in shares of Penumbra by 5.4% during the 4th quarter. CIBC Asset Management Inc now owns 1,183 shares of the company’s stock worth $281,000 after acquiring an additional 61 shares in the last quarter. 88.88% of the stock is owned by institutional investors and hedge funds.

Penumbra Price Performance

Shares of NYSE:PEN opened at $297.25 on Monday. Penumbra, Inc. has a 1-year low of $148.00 and a 1-year high of $310.00. The firm has a market capitalization of $11.51 billion, a PE ratio of 874.26, a PEG ratio of 2.83 and a beta of 0.53. The business’s 50 day moving average is $277.75 and its 200-day moving average is $261.33. The company has a current ratio of 6.01, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02.

Penumbra (NYSE:PEN) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.17. Penumbra had a return on equity of 9.74% and a net margin of 1.17%. The company had revenue of $324.14 million for the quarter, compared to analyst estimates of $315.72 million. During the same quarter last year, the firm earned $0.41 EPS. Penumbra’s revenue for the quarter was up 16.3% compared to the same quarter last year. Sell-side analysts predict that Penumbra, Inc. will post 3.67 earnings per share for the current year.

Insider Transactions at Penumbra

In related news, Director Thomas Wilder sold 360 shares of the firm’s stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $264.58, for a total transaction of $95,248.80. Following the completion of the transaction, the director now owns 4,533 shares in the company, valued at $1,199,341.14. This trade represents a 7.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Lambert Shiu sold 501 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $282.88, for a total value of $141,722.88. Following the transaction, the chief accounting officer now owns 32,969 shares of the company’s stock, valued at $9,326,270.72. This trade represents a 1.50% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 159,096 shares of company stock valued at $44,959,983. 4.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

PEN has been the subject of several recent analyst reports. Piper Sandler reiterated an “overweight” rating and set a $330.00 price target (up previously from $250.00) on shares of Penumbra in a research note on Wednesday, February 19th. Truist Financial upped their price target on Penumbra from $315.00 to $330.00 and gave the stock a “buy” rating in a research note on Thursday, April 24th. StockNews.com upgraded Penumbra from a “hold” rating to a “buy” rating in a research note on Thursday, April 24th. Wells Fargo & Company upped their price target on Penumbra from $305.00 to $315.00 and gave the stock an “overweight” rating in a research note on Thursday, April 24th. Finally, Morgan Stanley upped their price target on Penumbra from $240.00 to $260.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 19th. Three analysts have rated the stock with a hold rating, fourteen 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 $302.40.

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.