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

Banque Pictet & Cie SA reduced its position in shares of Penumbra, Inc. (NYSE:PEN - Free Report) by 91.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. 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 Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC lifted its stake in shares of Penumbra by 6.6% in the fourth quarter. Quadrant Capital Group LLC now owns 632 shares of the company's stock worth $150,000 after acquiring an additional 39 shares during the period. Baker Avenue Asset Management LP lifted its stake in shares of Penumbra by 1.6% in the fourth quarter. Baker Avenue Asset Management LP now owns 3,330 shares of the company's stock worth $791,000 after acquiring an additional 53 shares during the period. Fifth Third Bancorp lifted its stake in shares of Penumbra by 16.4% in the first quarter. Fifth Third Bancorp now owns 404 shares of the company's stock worth $108,000 after acquiring an additional 57 shares during the period. Corient Private Wealth LLC lifted its stake in shares of Penumbra by 3.7% in the fourth quarter. Corient Private Wealth LLC now owns 1,695 shares of the company's stock worth $403,000 after acquiring an additional 61 shares during the period. Finally, Jones Financial Companies Lllp lifted its stake in shares of Penumbra by 25.0% in the fourth quarter. Jones Financial Companies Lllp now owns 375 shares of the company's stock worth $89,000 after acquiring an additional 75 shares during the period. 88.88% of the stock is owned by institutional investors.

Penumbra Stock Down 2.7%

Penumbra stock traded down $6.50 during trading on Friday, hitting $237.37. 377,311 shares of the company were exchanged, compared to its average volume of 454,604. The business's 50 day moving average is $265.25 and its 200 day moving average is $268.18. Penumbra, Inc. has a 52 week low of $148.00 and a 52 week high of $310.00. The company has a market capitalization of $9.19 billion, a P/E ratio of 74.12, a PEG ratio of 2.17 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.

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

Insider Buying and Selling

In other Penumbra news, CEO Adam Elsesser sold 15,985 shares of the business's stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $243.75, for a total value of $3,896,343.75. Following the transaction, the chief executive officer owned 134,432 shares of the company's stock, valued at approximately $32,767,800. The trade was a 10.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Bridget O'rourke sold 100 shares of the business's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $286.15, for a total value of $28,615.00. Following the completion of the transaction, the director directly owned 5,423 shares in the company, valued at approximately $1,551,791.45. This represents a 1.81% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 130,795 shares of company stock worth $35,630,558. 4.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PEN. BTIG Research reaffirmed a "buy" rating on shares of Penumbra in a research note on Thursday, April 24th. UBS Group reiterated a "buy" rating and issued a $330.00 target price (up from $320.00) on shares of Penumbra in a report on Thursday, April 24th. Citigroup lowered their target price on Penumbra from $320.00 to $285.00 and set a "neutral" rating for the company in a report on Wednesday. Bank of America started coverage on Penumbra in a report on Friday, March 14th. They issued a "buy" rating and a $320.00 target price for the company. Finally, Stifel Nicolaus set a $318.00 target price on Penumbra and gave the stock a "buy" rating in a 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 issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $305.07.

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.