Wilmington Savings Fund Society FSB Makes New $7 Million Investment in Penumbra, Inc. (NYSE:PEN)

Wilmington Savings Fund Society FSB bought a new position in shares of Penumbra, Inc. (NYSE:PEN - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 36,000 shares of the company's stock, valued at approximately $6,995,000. Wilmington Savings Fund Society FSB owned about 0.09% of Penumbra as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of PEN. CWM LLC increased its position in shares of Penumbra by 215.7% during the second quarter. CWM LLC now owns 1,550 shares of the company's stock worth $279,000 after purchasing an additional 1,059 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Penumbra during the second quarter worth about $1,586,000. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Penumbra during the second quarter worth about $233,000. Envestnet Portfolio Solutions Inc. increased its position in shares of Penumbra by 215.0% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 3,408 shares of the company's stock worth $613,000 after purchasing an additional 2,326 shares in the last quarter. Finally, Portside Wealth Group LLC acquired a new stake in shares of Penumbra during the second quarter worth about $396,000. 88.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Adam Elsesser sold 15,000 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $197.71, for a total value of $2,965,650.00. Following the completion of the transaction, the chief executive officer now owns 882,582 shares in the company, valued at $174,495,287.22. This trade represents a 1.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $190.76, for a total value of $114,456.00. Following the completion of the transaction, the executive vice president now directly owns 60,488 shares in the company, valued at $11,538,690.88. This represents a 0.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 49,418 shares of company stock valued at $10,624,973 over the last quarter. Corporate insiders own 5.00% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PEN. Robert W. Baird boosted 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. Royal Bank of Canada boosted their price target on Penumbra from $205.00 to $222.00 and gave the company an "outperform" rating in a research report on Tuesday, October 8th. Needham & Company LLC restated a "hold" rating on shares of Penumbra in a research report on Thursday, October 31st. Canaccord Genuity Group boosted their target price on Penumbra from $260.00 to $323.00 and gave the stock a "buy" rating in a research report on Monday. Finally, Stifel Nicolaus started coverage on Penumbra in a research note on Tuesday, September 17th. They set a "buy" rating and a $238.00 price target on the stock. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $252.42.

Penumbra Price Performance

NYSE:PEN traded down $7.22 during midday trading on Friday, hitting $245.04. 107,697 shares of the stock were exchanged, compared to its average volume of 375,040. Penumbra, Inc. has a one year low of $148.00 and a one year high of $277.34. The company has a market capitalization of $9.40 billion, a price-to-earnings ratio of 290.51, a P/E/G ratio of 2.55 and a beta of 0.51. The business has a 50-day moving average price of $226.32 and a two-hundred day moving average price of $201.36. The company has a current ratio of 5.82, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02.

Penumbra (NYSE:PEN - Get Free Report) last announced its earnings results on Wednesday, October 30th. The company reported $0.85 EPS for the quarter, topping 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 for the quarter, compared to analysts' expectations of $297.36 million. During the same quarter in the previous year, the company earned $0.67 earnings per share. The firm's quarterly revenue was up 11.1% compared to the same quarter last year. Sell-side analysts predict that Penumbra, Inc. will post 2.81 EPS for the current year.

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.