US Bancorp DE Reduces Stock Position in Penumbra, Inc. (NYSE:PEN)

US Bancorp DE lessened its stake in shares of Penumbra, Inc. (NYSE:PEN) by 6.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,578 shares of the company’s stock after selling 805 shares during the quarter. US Bancorp DE’s holdings in Penumbra were worth $4,328,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Beacon Capital Management LLC increased its position in Penumbra by 281.0% during the 2nd quarter. Beacon Capital Management LLC now owns 80 shares of the company’s stock worth $28,000 after purchasing an additional 59 shares in the last quarter. Optimum Investment Advisors purchased a new stake in Penumbra during the 2nd quarter worth about $34,000. Altshuler Shaham Ltd purchased a new stake in Penumbra during the 4th quarter worth about $27,000. Global Retirement Partners LLC increased its position in Penumbra by 1,537.5% during the 2nd quarter. Global Retirement Partners LLC now owns 131 shares of the company’s stock worth $45,000 after purchasing an additional 123 shares in the last quarter. Finally, Tobam purchased a new stake in Penumbra in the 2nd quarter valued at about $59,000. Hedge funds and other institutional investors own 88.18% of the company’s stock.

Insider Buying and Selling

In related news, EVP Johanna Roberts sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $214.14, for a total transaction of $128,484.00. Following the transaction, the executive vice president now directly owns 63,037 shares of the company’s stock, valued at approximately $13,498,743.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Johanna Roberts sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $214.14, for a total transaction of $128,484.00. Following the transaction, the executive vice president now directly owns 63,037 shares of the company’s stock, valued at approximately $13,498,743.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Adam Elsesser sold 9,670 shares of the business’s stock in a transaction that occurred on Wednesday, October 11th. The stock was sold at an average price of $215.76, for a total value of $2,086,399.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,090 shares of company stock valued at $5,664,240. Corporate insiders own 5.30% of the company’s stock.

Analyst Ratings Changes

PEN has been the subject of several recent analyst reports. BTIG Research lowered their price target on Penumbra from $351.00 to $308.00 in a report on Wednesday, August 2nd. StockNews.com initiated coverage on Penumbra in a report on Thursday, October 5th. They issued a “hold” rating for the company. Wells Fargo & Company lifted their price target on Penumbra from $320.00 to $337.00 and gave the company an “overweight” rating in a report on Wednesday, August 2nd. Royal Bank of Canada restated an “outperform” rating and issued a $349.00 price target on shares of Penumbra in a report on Thursday, August 17th. Finally, Morgan Stanley lowered their price target on Penumbra from $265.00 to $240.00 and set an “equal weight” rating for the company in a report on Friday, November 3rd. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $317.25.

Penumbra Stock Performance

Penumbra stock opened at $235.50 on Tuesday. The stock’s 50 day moving average price is $222.21 and its 200 day moving average price is $273.17. The firm has a market capitalization of $9.09 billion, a PE ratio of 228.64 and a beta of 0.58. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.41 and a current ratio of 5.99. Penumbra, Inc. has a one year low of $180.93 and a one year high of $348.67.

About Penumbra

Penumbra, Inc, together with its subsidiairies, designs, develops, manufactures, and markets medical devices in the United States and internationally. The company offers aspiration based thrombectomy systems and accessory devices, including revascularization device for mechanical thrombectomy, such as Penumbra System under the Penumbra RED, JET, ACE, 3D Revascularization Device, and Penumbra ENGINE brands, as well as components and accessories; neurovascular embolization coiling systems to treat patients with various sizes of aneurysms and other neurovascular lesions under the Penumbra Coil 400, POD400, PAC400, and Penumbra SMART Coil brand names; and neurovascular access systems designed to provide intracranial access for use in a range of neurovascular therapies under the Neuron, Neuron MAX, Select, BENCHMARK, BMX96, DDC, SENDit, and PX SLIM brands.