Swiss National Bank Sells 7,900 Shares of Penumbra, Inc. (NYSE:PEN)

Swiss National Bank decreased its stake in shares of Penumbra, Inc. (NYSE:PEN - Free Report) by 9.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 72,000 shares of the company's stock after selling 7,900 shares during the period. Swiss National Bank owned approximately 0.19% of Penumbra worth $18,111,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of PEN. JFG Wealth Management LLC bought a new stake in Penumbra in the 4th quarter valued at about $226,000. New York Life Investment Management LLC raised its position in Penumbra by 7.0% in the fourth quarter. New York Life Investment Management LLC now owns 4,358 shares of the company's stock valued at $1,096,000 after purchasing an additional 284 shares during the last quarter. Retirement Systems of Alabama grew its holdings in Penumbra by 0.7% during the 4th quarter. Retirement Systems of Alabama now owns 48,340 shares of the company's stock worth $12,159,000 after acquiring an additional 347 shares during the last quarter. Motley Fool Asset Management LLC raised its position in Penumbra by 8.6% during the 4th quarter. Motley Fool Asset Management LLC now owns 7,029 shares of the company's stock worth $1,768,000 after purchasing an additional 558 shares during the last quarter. Finally, Yousif Capital Management LLC lifted its stake in shares of Penumbra by 1.3% in the fourth quarter. Yousif Capital Management LLC now owns 18,399 shares of the company's stock worth $4,628,000 after acquiring an additional 234 shares during the period. Institutional investors and hedge funds own 88.88% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Royal Bank of Canada reiterated an "outperform" rating and set a $289.00 target price on shares of Penumbra in a research report on Friday, February 23rd. Needham & Company LLC restated a "hold" rating on shares of Penumbra in a research note on Wednesday. Truist Financial dropped their price target on Penumbra from $290.00 to $280.00 and set a "buy" rating on the stock in a report on Friday, March 22nd. JPMorgan Chase & Co. lowered shares of Penumbra from an "overweight" rating to a "neutral" rating and decreased their price target for the stock from $284.00 to $250.00 in a research note on Friday, February 23rd. Finally, Piper Sandler dropped their price target on Penumbra from $290.00 to $260.00 and set an "overweight" rating on the stock in a research report on Wednesday. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $300.64.

Insider Transactions at Penumbra

In related news, Director Don W. Kassing sold 170 shares of Penumbra stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $223.18, for a total transaction of $37,940.60. Following the completion of the sale, the director now owns 1,175 shares in the company, valued at approximately $262,236.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Don W. Kassing sold 170 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $223.18, for a total transaction of $37,940.60. Following the transaction, the director now directly owns 1,175 shares in the company, valued at $262,236.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Arani Bose sold 7,500 shares of Penumbra stock in a transaction on Monday, March 4th. The shares were sold at an average price of $250.20, for a total value of $1,876,500.00. Following the completion of the transaction, the director now owns 164,294 shares in the company, valued at $41,106,358.80. The disclosure for this sale can be found here. Insiders have sold 9,648 shares of company stock valued at $2,369,903 in the last ninety days. Corporate insiders own 5.00% of the company's stock.

Penumbra Trading Up 1.3 %

Shares of PEN traded up $2.75 during mid-day trading on Friday, hitting $212.15. 335,546 shares of the company's stock traded hands, compared to its average volume of 353,166. The company has a quick ratio of 3.49, a current ratio of 6.06 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $8.22 billion, a P/E ratio of 90.65, a PEG ratio of 2.06 and a beta of 0.57. The business's 50-day moving average price is $220.57 and its 200-day moving average price is $231.66. Penumbra, Inc. has a 1 year low of $180.93 and a 1 year high of $348.67.

Penumbra (NYSE:PEN - Get Free Report) last announced its earnings results on Tuesday, May 7th. The company reported $0.41 earnings per share for the quarter, missing analysts' consensus estimates of $0.42 by ($0.01). Penumbra had a net margin of 8.59% and a return on equity of 7.49%. The company had revenue of $278.70 million for the quarter, compared to the consensus estimate of $274.94 million. During the same period in the previous year, the firm posted $0.23 EPS. The company's revenue for the quarter was up 15.5% on a year-over-year basis. As a group, sell-side analysts forecast that Penumbra, Inc. will post 2.85 EPS for the current fiscal year.

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.