Wells Fargo & Company MN Sells 8,521 Shares of Penumbra, Inc. (NYSE:PEN)

Wells Fargo & Company MN trimmed its position in Penumbra, Inc. (NYSE:PEN - Free Report) by 17.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,506 shares of the company's stock after selling 8,521 shares during the quarter. Wells Fargo & Company MN owned approximately 0.10% of Penumbra worth $9,382,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. UMB Bank n.a. boosted its holdings in Penumbra by 57.4% in the 4th quarter. UMB Bank n.a. now owns 192 shares of the company's stock valued at $46,000 after purchasing an additional 70 shares during the period. Huntington National Bank boosted its stake in Penumbra by 138.7% during the fourth quarter. Huntington National Bank now owns 265 shares of the company's stock valued at $63,000 after buying an additional 154 shares during the period. Mather Group LLC. boosted its stake in Penumbra by 208.0% during the fourth quarter. Mather Group LLC. now owns 308 shares of the company's stock valued at $73,000 after buying an additional 208 shares during the period. Jones Financial Companies Lllp grew its position in Penumbra by 25.0% during the fourth quarter. Jones Financial Companies Lllp now owns 375 shares of the company's stock worth $89,000 after buying an additional 75 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in Penumbra by 160.8% in the 4th quarter. GAMMA Investing LLC now owns 446 shares of the company's stock worth $106,000 after acquiring an additional 275 shares during the last quarter. 88.88% of the stock is currently owned by institutional investors.

Penumbra Trading Up 1.9 %

PEN stock traded up $5.25 during midday trading on Tuesday, hitting $275.89. The company had a trading volume of 728,375 shares, compared to its average volume of 415,943. The stock has a market cap of $10.67 billion, a price-to-earnings ratio of 811.44, a PEG ratio of 2.83 and a beta of 0.56. Penumbra, Inc. has a 52 week low of $148.00 and a 52 week high of $310.00. The company has a current ratio of 6.01, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02. The stock's 50 day moving average price is $275.59 and its 200 day moving average price is $252.75.

Penumbra (NYSE:PEN - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The company reported $0.97 EPS for the quarter, beating analysts' consensus estimates of $0.88 by $0.09. The company had revenue of $315.52 million during the quarter, compared to analyst estimates of $311.63 million. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. As a group, equities research analysts expect that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal year.

Insider Transactions at Penumbra

In related news, CEO Adam Elsesser sold 16,560 shares of the firm's stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $274.35, for a total value of $4,543,236.00. Following the completion of the sale, the chief executive officer now owns 63,911 shares of the company's stock, valued at $17,533,982.85. This trade represents a 20.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Arani Bose sold 12,000 shares of Penumbra stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $283.77, for a total transaction of $3,405,240.00. Following the completion of the sale, the director now owns 314,819 shares in the company, valued at approximately $89,336,187.63. This trade represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 127,846 shares of company stock worth $35,779,187. Company insiders own 5.00% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently commented on PEN. JPMorgan Chase & Co. boosted their price objective on Penumbra from $230.00 to $285.00 and gave the stock an "overweight" rating in a report on Wednesday, February 19th. Wells Fargo & Company boosted their price target on shares of Penumbra from $275.00 to $305.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 19th. Bank of America began coverage on shares of Penumbra in a research report on Friday, March 14th. They set a "buy" rating and a $320.00 price objective on the stock. Robert W. Baird upped their target price on shares of Penumbra from $305.00 to $328.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. Finally, Piper Sandler restated an "overweight" rating and set a $330.00 price target (up previously from $250.00) on shares of Penumbra in a research report on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $293.93.

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.