Banque Pictet & Cie SA Cuts Position in Penumbra, Inc. (NYSE:PEN)

Banque Pictet & Cie SA trimmed its position in shares of Penumbra, Inc. (NYSE:PEN) by 8.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 19,160 shares of the company’s stock after selling 1,761 shares during the period. Banque Pictet & Cie SA’s holdings in Penumbra were worth $4,550,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. True Wealth Design LLC purchased a new stake in shares of Penumbra during the third quarter worth approximately $26,000. GAMMA Investing LLC increased its stake in shares of 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. increased its stake in shares of 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. increased its stake in shares of 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. increased its stake in shares of 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. 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 Wednesday, November 20th. The stock was sold at an average price of $237.28, for a total transaction of $3,559,200.00. Following the completion of the sale, the chief executive officer now directly owns 852,582 shares of the company’s stock, valued at $202,300,656.96. This trade represents a 1.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Harpreet Grewal sold 167 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $241.28, for a total value of $40,293.76. Following the sale, the director now directly owns 8,530 shares of the company’s stock, valued at approximately $2,058,118.40. This represents a 1.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,819 shares of company stock valued at $8,129,483 over the last three months. 5.00% of the stock is currently owned by company insiders.

Penumbra Price Performance

Shares of NYSE PEN opened at $267.83 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.82 and a quick ratio of 3.25. The stock has a fifty day moving average price of $254.43 and a 200 day moving average price of $223.23. Penumbra, Inc. has a 1-year low of $148.00 and a 1-year high of $277.89. The company has a market cap of $10.28 billion, a PE ratio of 311.43, a P/E/G ratio of 1.92 and a beta of 0.53.

Analyst Upgrades and Downgrades

PEN has been the topic of several recent analyst reports. Canaccord Genuity Group increased their price target on shares of Penumbra from $260.00 to $323.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Oppenheimer initiated coverage on shares of Penumbra in a research note on Tuesday, December 17th. They issued an “outperform” rating and a $275.00 price target on the stock. Citigroup increased their price target on shares of Penumbra from $220.00 to $245.00 and gave the company a “neutral” rating in a research note on Wednesday, December 11th. UBS Group initiated coverage on shares of Penumbra in a research note on Tuesday, January 21st. They issued a “buy” rating and a $305.00 price target on the stock. Finally, BTIG Research increased their price target on shares of Penumbra from $232.00 to $270.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $261.36.

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.