Zurcher Kantonalbank Zurich Cantonalbank Sells 713 Shares of Penumbra, Inc. (NYSE:PEN)

Zurcher Kantonalbank Zurich Cantonalbank cut its holdings in Penumbra, Inc. (NYSE:PEN) by 9.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,512 shares of the company’s stock after selling 713 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Penumbra were worth $1,546,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the business. Pallas Capital Advisors LLC grew its stake in shares of Penumbra by 3.8% in the fourth quarter. Pallas Capital Advisors LLC now owns 1,108 shares of the company’s stock worth $263,000 after purchasing an additional 41 shares during the last quarter. Advisors Asset Management Inc. grew its stake in shares of Penumbra by 11.5% in the third quarter. Advisors Asset Management Inc. now owns 416 shares of the company’s stock worth $81,000 after purchasing an additional 43 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in Penumbra by 1.0% in the fourth quarter. Pacer Advisors Inc. now owns 5,721 shares of the company’s stock worth $1,359,000 after buying an additional 57 shares during the period. CIBC Asset Management Inc lifted its holdings in Penumbra by 5.4% in the fourth quarter. CIBC Asset Management Inc now owns 1,183 shares of the company’s stock worth $281,000 after buying an additional 61 shares during the period. Finally, UMB Bank n.a. lifted its holdings in Penumbra by 57.4% in the fourth quarter. UMB Bank n.a. now owns 192 shares of the company’s stock worth $46,000 after buying an additional 70 shares during the period. 88.88% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on PEN shares. BTIG Research raised their price objective on shares of Penumbra from $232.00 to $270.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. JPMorgan Chase & Co. raised their price objective on shares of Penumbra from $230.00 to $285.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. UBS Group raised their price objective on shares of Penumbra from $305.00 to $320.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Robert W. Baird lifted their target price on shares of Penumbra from $305.00 to $328.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Finally, Citigroup lifted their target price on shares of Penumbra from $220.00 to $245.00 and gave the company a “neutral” rating in a report on Wednesday, December 11th. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $294.47.

Penumbra Stock Performance

PEN stock opened at $276.24 on Tuesday. The stock has a market capitalization of $10.64 billion, a PE ratio of 812.46, a price-to-earnings-growth ratio of 2.83 and a beta of 0.51. Penumbra, Inc. has a 12-month low of $148.00 and a 12-month high of $310.00. The company has a current ratio of 6.01, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02. The stock’s 50 day simple moving average is $270.69 and its 200 day simple moving average is $238.41.

Penumbra (NYSE:PEN) last released its quarterly earnings data on Tuesday, February 18th. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.09. The business had revenue of $315.52 million for the quarter, compared to analysts’ expectations of $311.63 million. Penumbra had a return on equity of 9.74% and a net margin of 1.17%. As a group, research analysts forecast that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal year.

Insider Buying and Selling at Penumbra

In other Penumbra news, EVP Johanna Roberts sold 600 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $287.43, for a total transaction of $172,458.00. Following the completion of the sale, the executive vice president now directly owns 66,539 shares in the company, valued at approximately $19,125,304.77. The trade was a 0.89 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Adam Elsesser sold 15,000 shares of the business’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $242.96, for a total transaction of $3,644,400.00. Following the sale, the chief executive officer now owns 837,582 shares of the company’s stock, valued at approximately $203,498,922.72. This represents a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 79,918 shares of company stock worth $22,054,293. Insiders own 5.00% of the company’s stock.

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.