Penumbra, Inc. (NYSE:PEN) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank cut its stake in shares of Penumbra, Inc. (NYSE:PEN) by 5.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,645 shares of the company’s stock after selling 410 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Penumbra were worth $1,671,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. SG Americas Securities LLC raised its holdings in shares of Penumbra by 102.7% during the 3rd quarter. SG Americas Securities LLC now owns 4,053 shares of the company’s stock valued at $980,000 after buying an additional 2,053 shares during the period. Linden Thomas Advisory Services LLC grew its stake in Penumbra by 16.1% during the 3rd quarter. Linden Thomas Advisory Services LLC now owns 5,651 shares of the company’s stock valued at $1,367,000 after purchasing an additional 784 shares in the last quarter. Xponance Inc. increased its holdings in Penumbra by 1.1% during the 3rd quarter. Xponance Inc. now owns 8,482 shares of the company’s stock worth $2,052,000 after purchasing an additional 92 shares during the last quarter. New York State Teachers Retirement System increased its holdings in Penumbra by 4.6% during the 3rd quarter. New York State Teachers Retirement System now owns 37,688 shares of the company’s stock worth $9,117,000 after purchasing an additional 1,652 shares during the last quarter. Finally, Strs Ohio boosted its stake in shares of Penumbra by 19.8% during the 3rd quarter. Strs Ohio now owns 3,435 shares of the company’s stock valued at $830,000 after buying an additional 567 shares during the last quarter. 88.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Arani Bose sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $250.20, for a total transaction of $1,876,500.00. Following the transaction, the director now owns 164,294 shares of the company’s stock, valued at $41,106,358.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Arani Bose sold 7,500 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $250.20, for a total transaction of $1,876,500.00. Following the completion of the sale, the director now owns 164,294 shares in the company, valued at approximately $41,106,358.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Don W. Kassing sold 778 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $234.72, for a total value of $182,612.16. Following the completion of the transaction, the director now directly owns 1,345 shares in the company, valued at $315,698.40. The disclosure for this sale can be found here. Insiders sold a total of 9,648 shares of company stock worth $2,369,903 in the last three months. 5.30% of the stock is owned by insiders.

Penumbra Price Performance

Shares of PEN opened at $206.15 on Thursday. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.06 and a quick ratio of 3.49. The company has a market capitalization of $7.98 billion, a price-to-earnings ratio of 89.24, a P/E/G ratio of 2.03 and a beta of 0.51. The business’s 50-day moving average is $230.76 and its 200-day moving average is $232.07. Penumbra, Inc. has a fifty-two week low of $180.93 and a fifty-two week high of $348.67.

Penumbra (NYSE:PEN) last issued its earnings results on Thursday, February 22nd. The company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.05. Penumbra had a net margin of 8.59% and a return on equity of 7.49%. The company had revenue of $284.68 million during the quarter, compared to analyst estimates of $286.62 million. During the same quarter last year, the business posted $0.16 EPS. The company’s revenue for the quarter was up 28.7% on a year-over-year basis. Equities research analysts expect that Penumbra, Inc. will post 2.85 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PEN has been the topic of several recent analyst reports. JPMorgan Chase & Co. cut shares of Penumbra from an “overweight” rating to a “neutral” rating and cut their price target for the company from $284.00 to $250.00 in a report on Friday, February 23rd. Truist Financial dropped their target price on shares of Penumbra from $290.00 to $280.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. TheStreet upgraded Penumbra from a “d+” rating to a “c-” rating in a research note on Friday, January 12th. Piper Sandler restated an “overweight” rating and issued a $290.00 price target on shares of Penumbra in a research note on Wednesday, April 3rd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $289.00 target price on shares of Penumbra in a report on Friday, February 23rd. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $304.45.

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.