Bank Pictet & Cie Europe AG Reduces Stock Holdings in Penumbra, Inc. (NYSE:PEN)

Bank Pictet & Cie Europe AG lowered its position in Penumbra, Inc. (NYSE:PEN) by 13.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,092 shares of the company’s stock after selling 166 shares during the quarter. Bank Pictet & Cie Europe AG’s holdings in Penumbra were worth $259,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. True Wealth Design LLC purchased a new stake in shares of Penumbra in the third quarter valued at about $26,000. GAMMA Investing LLC boosted its stake in Penumbra by 111.1% during the third quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock worth $33,000 after buying an additional 90 shares during the period. UMB Bank n.a. boosted its stake in Penumbra by 57.4% during the fourth quarter. UMB Bank n.a. now owns 192 shares of the company’s stock worth $46,000 after buying an additional 70 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 worth $73,000 after buying an additional 208 shares during the period. Finally, Advisors Asset Management Inc. boosted its stake in Penumbra by 11.5% during the third quarter. Advisors Asset Management Inc. now owns 416 shares of the company’s stock worth $81,000 after buying an additional 43 shares during the period. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Penumbra Stock Down 1.9 %

Shares of NYSE:PEN opened at $267.83 on Friday. The firm’s 50 day moving average price is $255.04 and its 200 day moving average price is $224.21. The stock has a market cap of $10.28 billion, a price-to-earnings ratio of 311.43, a price-to-earnings-growth ratio of 1.92 and a beta of 0.53. Penumbra, Inc. has a fifty-two week low of $148.00 and a fifty-two week high of $277.89. The company has a quick ratio of 3.25, a current ratio of 5.82 and a debt-to-equity ratio of 0.02.

Insider Activity at Penumbra

In other Penumbra news, CAO Lambert Shiu sold 1,798 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $242.56, for a total transaction of $436,122.88. Following the sale, the chief accounting officer now owns 20,682 shares of the company’s stock, valued at approximately $5,016,625.92. This trade represents a 8.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Johanna Roberts sold 600 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $239.74, for a total transaction of $143,844.00. Following the sale, the executive vice president now directly owns 64,044 shares in the company, valued at approximately $15,353,908.56. The trade was a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,819 shares of company stock valued at $8,129,483 over the last 90 days. 5.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PEN. Robert W. Baird increased their target price on shares of Penumbra from $244.00 to $248.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Piper Sandler increased their target price on shares of Penumbra from $235.00 to $250.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 20th. Needham & Company LLC reaffirmed a “hold” rating on shares of Penumbra in a research note on Thursday, October 31st. UBS Group initiated coverage on shares of Penumbra in a research note on Tuesday, January 21st. They set a “buy” rating and a $305.00 target price for the company. Finally, Wells Fargo & Company raised shares of Penumbra from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $190.00 to $275.00 in a research note on Wednesday, December 11th. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $261.36.

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.