Zurcher Kantonalbank Zurich Cantonalbank Sells 410 Shares of Penumbra, Inc. (NYSE:PEN)

Zurcher Kantonalbank Zurich Cantonalbank trimmed its holdings in shares of Penumbra, Inc. (NYSE:PEN) by 5.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor 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 filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. RiverPark Advisors LLC acquired a new stake in Penumbra in the third quarter worth $42,000. Covestor Ltd increased its position in Penumbra by 357.9% in the 3rd quarter. Covestor Ltd now owns 348 shares of the company’s stock valued at $84,000 after buying an additional 272 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in Penumbra by 496.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 358 shares of the company’s stock worth $90,000 after buying an additional 298 shares during the period. Fifth Third Bancorp boosted its holdings in Penumbra by 13.9% in the fourth quarter. Fifth Third Bancorp now owns 378 shares of the company’s stock worth $95,000 after acquiring an additional 46 shares in the last quarter. Finally, Financial Counselors Inc. raised its position in shares of Penumbra by 10.7% during the third quarter. Financial Counselors Inc. now owns 830 shares of the company’s stock worth $201,000 after purchasing an additional 80 shares during the period. 88.88% of the stock is currently owned by institutional investors.

Insider Activity

In other Penumbra news, EVP Johanna Roberts sold 600 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $237.68, for a total value of $142,608.00. Following the sale, the executive vice president now directly owns 62,997 shares in the company, valued at approximately $14,973,126.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Don W. Kassing sold 170 shares of the stock in a transaction dated Monday, April 1st. The stock was 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 approximately $262,236.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Johanna Roberts sold 600 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $237.68, for a total value of $142,608.00. Following the completion of the sale, the executive vice president now owns 62,997 shares of the company’s stock, valued at approximately $14,973,126.96. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,648 shares of company stock worth $2,369,903. 5.30% of the stock is owned by company insiders.

Penumbra Trading Up 0.2 %

NYSE:PEN opened at $206.15 on Thursday. The firm’s 50 day moving average is $230.76 and its 200 day moving average is $232.07. Penumbra, Inc. has a 12 month low of $180.93 and a 12 month high of $348.67. The stock has a market capitalization of $7.98 billion, a PE ratio of 89.24, a price-to-earnings-growth ratio of 2.03 and a beta of 0.51. The company has a current ratio of 6.06, a quick ratio of 3.49 and a debt-to-equity ratio of 0.02.

Penumbra (NYSE:PEN) last released its quarterly earnings data on Thursday, February 22nd. The company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.71 by $0.05. The business had revenue of $284.68 million for the quarter, compared to the consensus estimate of $286.62 million. Penumbra had a net margin of 8.59% and a return on equity of 7.49%. The company’s revenue was up 28.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.16 earnings per share. Sell-side analysts expect that Penumbra, Inc. will post 2.85 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. cut shares of Penumbra from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $284.00 to $250.00 in a research report on Friday, February 23rd. Canaccord Genuity Group restated a “buy” rating and set a $284.00 price objective on shares of Penumbra in a research note on Friday, February 23rd. Piper Sandler reiterated an “overweight” rating and issued a $290.00 target price on shares of Penumbra in a research note on Wednesday, April 3rd. TheStreet raised shares of Penumbra from a “d+” rating to a “c-” rating in a research report on Friday, January 12th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $289.00 price objective on shares of Penumbra in a research report on Friday, February 23rd. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $304.45.

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.