Banque Pictet & Cie SA Sells 17,609 Shares of Penumbra, Inc. (NYSE:PEN)

Banque Pictet & Cie SA lessened its position in Penumbra, Inc. (NYSE:PEN - Free Report) by 91.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,551 shares of the company's stock after selling 17,609 shares during the quarter. Banque Pictet & Cie SA's holdings in Penumbra were worth $415,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Penumbra in the fourth quarter worth approximately $54,396,000. T. Rowe Price Investment Management Inc. raised its position in Penumbra by 47.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 707,061 shares of the company's stock valued at $167,913,000 after purchasing an additional 227,506 shares in the last quarter. GAMMA Investing LLC raised its position in Penumbra by 42,409.9% during the first quarter. GAMMA Investing LLC now owns 189,594 shares of the company's stock valued at $50,699,000 after purchasing an additional 189,148 shares in the last quarter. Adage Capital Partners GP L.L.C. purchased a new position in shares of Penumbra in the fourth quarter worth about $23,866,000. Finally, Baird Financial Group Inc. increased its holdings in Penumbra by 43.9% during the 4th quarter. Baird Financial Group Inc. now owns 280,198 shares of the company's stock valued at $66,541,000 after purchasing an additional 85,542 shares during the period. Institutional investors and hedge funds own 88.88% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on PEN shares. Wells Fargo & Company upped their price objective on Penumbra from $305.00 to $315.00 and gave the company an "overweight" rating in a research report on Thursday, April 24th. Wall Street Zen raised shares of Penumbra from a "buy" rating to a "strong-buy" rating in a research note on Saturday, June 14th. Citigroup cut their price target on Penumbra from $320.00 to $285.00 and set a "neutral" rating on the stock in a report on Wednesday, July 9th. UBS Group reissued a "buy" rating and set a $330.00 price objective (up from $320.00) on shares of Penumbra in a report on Thursday, April 24th. Finally, Royal Bank Of Canada boosted their target price on shares of Penumbra from $315.00 to $330.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Penumbra has a consensus rating of "Moderate Buy" and a consensus target price of $305.07.

Insider Buying and Selling at Penumbra

In related news, Director Bridget O'rourke sold 100 shares of the company's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $286.15, for a total transaction of $28,615.00. Following the completion of the transaction, the director directly owned 5,423 shares in the company, valued at $1,551,791.45. This represents a 1.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Johanna Roberts sold 600 shares of the company's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $252.70, for a total transaction of $151,620.00. Following the transaction, the executive vice president owned 66,057 shares of the company's stock, valued at approximately $16,692,603.90. The trade was a 0.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 130,795 shares of company stock worth $35,630,558 over the last ninety days. 4.20% of the stock is currently owned by insiders.

Penumbra Stock Performance

NYSE:PEN traded up $0.88 during mid-day trading on Monday, hitting $238.82. The stock had a trading volume of 398,128 shares, compared to its average volume of 454,637. The stock has a market capitalization of $9.25 billion, a price-to-earnings ratio of 225.31, a P/E/G ratio of 2.12 and a beta of 0.47. The company has a current ratio of 6.30, a quick ratio of 3.68 and a debt-to-equity ratio of 0.02. The company has a 50 day simple moving average of $264.08 and a 200-day simple moving average of $268.54. Penumbra, Inc. has a 52 week low of $148.00 and a 52 week high of $310.00.

Penumbra (NYSE:PEN - Get Free Report) last released its earnings results on Wednesday, April 23rd. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.17. Penumbra had a net margin of 3.41% and a return on equity of 11.14%. The business had revenue of $324.14 million for the quarter, compared to the consensus estimate of $315.72 million. During the same period last year, the firm posted $0.41 earnings per share. The firm's quarterly revenue was up 16.3% compared to the same quarter last year. On average, research analysts expect that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal year.

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.