Swiss National Bank Increases Stake in Penumbra, Inc. (NYSE:PEN)

Posted by on May 13th, 2023

Swiss National Bank grew its position in Penumbra, Inc. (NYSE:PEN – Get Rating) by 2.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 86,900 shares of the company’s stock after buying an additional 2,000 shares during the period. Swiss National Bank owned approximately 0.23% of Penumbra worth $19,332,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PEN. Captrust Financial Advisors raised its holdings in Penumbra by 44.1% in the 2nd quarter. Captrust Financial Advisors now owns 219 shares of the company’s stock worth $27,000 after acquiring an additional 67 shares during the last quarter. Hanseatic Management Services Inc. bought a new stake in shares of Penumbra in the 3rd quarter worth $35,000. Wipfli Financial Advisors LLC purchased a new position in shares of Penumbra in the third quarter worth $40,000. Fifth Third Bancorp lifted its holdings in shares of Penumbra by 30.4% during the fourth quarter. Fifth Third Bancorp now owns 223 shares of the company’s stock valued at $50,000 after purchasing an additional 52 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its position in shares of Penumbra by 251.1% during the third quarter. Quadrant Capital Group LLC now owns 495 shares of the company’s stock valued at $94,000 after buying an additional 354 shares during the last quarter. Institutional investors own 82.42% of the company’s stock.

Insider Activity

In other news, Director Arani Bose sold 5,000 shares of the business’s stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $275.59, for a total value of $1,377,950.00. Following the transaction, the director now owns 431,342 shares of the company’s stock, valued at $118,873,541.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Penumbra news, Director Harpreet Grewal sold 710 shares of Penumbra stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $259.48, for a total value of $184,230.80. Following the sale, the director now owns 11,410 shares of the company’s stock, valued at approximately $2,960,666.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Arani Bose sold 5,000 shares of the stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $275.59, for a total value of $1,377,950.00. Following the transaction, the director now owns 431,342 shares of the company’s stock, valued at $118,873,541.78. The disclosure for this sale can be found here. Insiders have sold a total of 13,660 shares of company stock worth $3,773,819 over the last quarter. Insiders own 5.50% of the company’s stock.

Penumbra Trading Up 1.0 %

Shares of Penumbra stock opened at $320.46 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.02 and a current ratio of 5.37. The company has a fifty day moving average of $279.06 and a 200 day moving average of $243.07. The company has a market capitalization of $12.26 billion, a P/E ratio of 2,003.00 and a beta of 0.54. Penumbra, Inc. has a fifty-two week low of $114.86 and a fifty-two week high of $324.38.

Penumbra (NYSE:PEN – Get Rating) last released its earnings results on Tuesday, May 2nd. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.12. The firm had revenue of $241.40 million during the quarter, compared to analysts’ expectations of $229.70 million. Penumbra had a return on equity of 1.58% and a net margin of 0.73%. The firm’s revenue was up 18.4% on a year-over-year basis. During the same quarter last year, the business posted ($0.01) earnings per share. On average, sell-side analysts anticipate that Penumbra, Inc. will post 1.47 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PEN. StockNews.com initiated coverage on shares of Penumbra in a research note on Thursday, March 16th. They set a “hold” rating on the stock. Citigroup raised their target price on shares of Penumbra from $303.00 to $325.00 and gave the stock a “buy” rating in a report on Monday, April 3rd. Canaccord Genuity Group boosted their target price on shares of Penumbra from $246.00 to $286.00 and gave the company a “buy” rating in a research note on Friday, February 24th. 58.com restated a “maintains” rating on shares of Penumbra in a research note on Wednesday, May 3rd. Finally, Needham & Company LLC cut Penumbra from a “buy” rating to a “hold” rating in a research report on Wednesday, March 29th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $287.92.

Penumbra Company Profile

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Penumbra, Inc engages in the design, development, manufacture, and marketing of innovative medical devices. It offers neurovascular thrombectomy and embolization and access technologies, neurosurgical tools, Penumbra LANTERN Delivery Microcatheter, and Penumbra Occlusion Device (POD) system. The company was founded by Arani Bose and Adam Elsesser on June 21, 2004, and is headquartered in Alameda, CA.

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Institutional Ownership by Quarter for Penumbra (NYSE:PEN)

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