Swiss National Bank Buys 600 Shares of Penumbra, Inc. (NYSE:PEN)

Swiss National Bank raised its stake in Penumbra, Inc. (NYSE:PEN) by 0.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 72,500 shares of the company’s stock after acquiring an additional 600 shares during the quarter. Swiss National Bank’s holdings in Penumbra were worth $17,217,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Janus Henderson Group PLC boosted its stake in shares of Penumbra by 128.1% in the 3rd quarter. Janus Henderson Group PLC now owns 668,873 shares of the company’s stock valued at $129,967,000 after purchasing an additional 375,684 shares in the last quarter. Champlain Investment Partners LLC boosted its stake in shares of Penumbra by 20.6% in the 3rd quarter. Champlain Investment Partners LLC now owns 1,547,972 shares of the company’s stock valued at $300,786,000 after purchasing an additional 264,122 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in shares of Penumbra in the 3rd quarter valued at $31,965,000. Braidwell LP boosted its stake in shares of Penumbra by 70.0% in the 3rd quarter. Braidwell LP now owns 361,428 shares of the company’s stock valued at $70,229,000 after purchasing an additional 148,834 shares in the last quarter. Finally, Baillie Gifford & Co. boosted its stake in shares of Penumbra by 23.4% in the 4th quarter. Baillie Gifford & Co. now owns 730,233 shares of the company’s stock valued at $173,416,000 after purchasing an additional 138,387 shares in the last quarter. 88.88% of the stock is currently owned by institutional investors and hedge funds.

Penumbra Price Performance

Penumbra stock opened at $275.40 on Wednesday. The firm has a market capitalization of $10.61 billion, a P/E ratio of 810.01, a PEG ratio of 2.83 and a beta of 0.51. Penumbra, Inc. has a 1 year low of $148.00 and a 1 year high of $310.00. The business has a 50-day moving average of $271.17 and a 200-day moving average of $238.92. The company has a current ratio of 6.01, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02.

Penumbra (NYSE:PEN) last posted its earnings results on Tuesday, February 18th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.09. The company had revenue of $315.52 million during the quarter, compared to analyst estimates of $311.63 million. Penumbra had a return on equity of 9.74% and a net margin of 1.17%. On average, equities analysts anticipate that Penumbra, Inc. will post 3.67 EPS for the current year.

Insider Transactions at Penumbra

In related news, CEO Adam Elsesser sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $242.96, for a total value of $3,644,400.00. Following the completion of the transaction, the chief executive officer now directly owns 837,582 shares in the company, valued at approximately $203,498,922.72. The trade was a 1.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Johanna Roberts sold 600 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $287.43, for a total value of $172,458.00. Following the completion of the transaction, the executive vice president now owns 66,539 shares of the company’s stock, valued at $19,125,304.77. This represents a 0.89 % 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. 5.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on PEN. UBS Group boosted their target price on shares of Penumbra from $305.00 to $320.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Robert W. Baird lifted their price target on Penumbra from $305.00 to $328.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. BTIG Research lifted their price target on Penumbra from $232.00 to $270.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Oppenheimer started coverage on Penumbra in a report on Tuesday, December 17th. They issued an “outperform” rating and a $275.00 price target for the company. Finally, Morgan Stanley lifted their price target on Penumbra from $240.00 to $260.00 and gave the company an “equal weight” rating in a report on Wednesday, February 19th. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $294.47.

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.