Washington Trust Advisors 13F: Cuts Penumbra (PEN) Stake by $555K

Washington Trust Advisors reduced its stake in Penumbra, Inc. (NYSE:PEN) by 22.7% during the period, according to a Form 13F filing disclosed on October 22, 2026. The firm sold 1,743 shares of the medical device company, leaving it with 5,928 shares worth approximately $1.9 million.

PEN Penumbra, Inc.

$324.39 ▲ +4.84% year to date

1M 3M YTD

Daily close · Oct 23, 2026

What Changed in Washington Trust Advisors's Penumbra Position

The institutional investor pared back its holdings from a previous total of 7,671 shares down to 5,928 shares. The reduction left the fund with a reported position valued at $1,887,120.

Other Institutional Activity in Penumbra

Other large funds made substantial adjustments to their positions in the medical device maker during the reporting cycle. HBK Investments L P grew its holdings by 204,279 shares, ending with 1,838,508 shares worth about $596.4 million. ExodusPoint Capital Management, LP lifted its stake by 134.4%, adding 625,210 shares to hold 1,090,430 shares valued at roughly $353.7 million. Balyasny Asset Management LP raised its position by 43.0% with the addition of 328,078 shares, bringing its total to 1,090,163 shares worth about $353.6 million. Arrowstreet Capital, Limited Partnership increased its holdings by 108.6%, acquiring 434,739 shares to finish with 834,903 shares valued at roughly $270.8 million.

Penumbra, Inc. Stock Up 0.3%

Penumbra shares recently traded around $324.39. That places the stock 1.1% above its 50-day moving average of $320.97 and 0.9% below its 200-day moving average of $327.26. The shares sit 10.5% below their 52-week high of $362.41 and 46.6% above their 52-week low of $221.26. The company carries a market capitalization of roughly $12.8 billion.

Recent Earnings

Penumbra generated trailing-twelve-month revenue of $1.5 billion with earnings of $4.07 per share. The company reported a net profit margin of 10.7% and a return on equity of 11.4%. The next quarterly earnings report is scheduled for November 4, 2026.

Insider Buying and Selling at Penumbra, Inc.

Company insiders executed several transactions earlier in the year. Director Thomas C Wilder III sold 186 shares on January 2, 2026, at an average price of $310.72 for a total of $57,794. Director Harpreet Singh Grewal sold 186 shares on January 6, 2026, at $312.64 per share, totaling $58,151, and later sold 100 shares on April 2, 2026, at $328.22 per share for a total of $32,822. Chief Financial Officer Maggie S. Yuen sold 2,432 shares on March 2, 2026, at $342.30 per share, amounting to $832,474.

Analysts Set New Price Targets

Evercore ISI Group maintained an Outperform rating on the stock on July 6, 2026, while adjusting its price target from $335.00 to $320.00. Across Wall Street, the stock holds a consensus hold rating with a mean price target of $362.54 based on 13 analyst opinions.

About Penumbra

Headquartered in Alameda, California, Penumbra designs and manufactures medical devices used in vascular and neurological interventions. Its product lines include computer-assisted vacuum thrombectomy systems, peripheral thrombectomy tools like the Indigo System, and mechanical aspiration devices such as Lightning Flash and Lightning Bolt 7. The company's ongoing device adoption is closely watched by healthcare investors tracking advanced stroke and clot-removal technologies.

Bottom Line

Investors will look toward the upcoming November earnings release for updated figures on revenue growth and profit margins. Institutional filings will continue to provide visibility into how large funds adjust their exposure heading into the end of the year.