Swiss National Bank increased its position in shares of Penumbra, Inc. (NYSE:PEN – Get Rating) by 0.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 84,300 shares of the company’s stock after purchasing an additional 300 shares during the period. Swiss National Bank’s holdings in Penumbra were worth $10,497,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in Penumbra by 22.0% in the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 20,078 shares of the company’s stock valued at $2,500,000 after buying an additional 3,620 shares during the period. Bank of New York Mellon Corp boosted its position in Penumbra by 4.0% in the 1st quarter. Bank of New York Mellon Corp now owns 336,325 shares of the company’s stock valued at $74,708,000 after buying an additional 13,019 shares during the period. US Bancorp DE boosted its position in Penumbra by 6.3% in the 1st quarter. US Bancorp DE now owns 18,198 shares of the company’s stock valued at $4,044,000 after buying an additional 1,076 shares during the period. Champlain Investment Partners LLC boosted its position in Penumbra by 0.8% in the 1st quarter. Champlain Investment Partners LLC now owns 474,720 shares of the company’s stock valued at $105,450,000 after buying an additional 3,940 shares during the period. Finally, Oak Harbor Wealth Partners LLC purchased a new stake in Penumbra in the 1st quarter valued at about $10,192,000. 81.65% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several brokerages have recently weighed in on PEN. Royal Bank of Canada upped their price target on shares of Penumbra from $195.00 to $215.00 in a research report on Monday, November 14th. Wells Fargo & Company lowered their price target on shares of Penumbra from $260.00 to $225.00 and set an “overweight” rating for the company in a research report on Friday, November 4th. BTIG Research lowered their price target on shares of Penumbra from $239.00 to $204.00 in a research report on Friday, November 4th. Truist Financial upped their price target on shares of Penumbra from $200.00 to $228.00 in a research report on Monday, November 14th. Finally, Jefferies Financial Group began coverage on shares of Penumbra in a research report on Wednesday, October 12th. They issued a “buy” rating and a $230.00 price target for the company. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $220.45.
Penumbra Trading Down 1.0 %
Penumbra (NYSE:PEN – Get Rating) last issued its quarterly earnings results on Thursday, November 3rd. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.02. Penumbra had a negative net margin of 3.68% and a positive return on equity of 0.45%. The business had revenue of $213.68 million for the quarter, compared to analyst estimates of $212.41 million. Analysts predict that Penumbra, Inc. will post 0.14 EPS for the current year.
Insider Buying and Selling at Penumbra
In other news, EVP Johanna Roberts sold 5,800 shares of the company’s stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $175.17, for a total value of $1,015,986.00. Following the sale, the executive vice president now directly owns 55,496 shares of the company’s stock, valued at approximately $9,721,234.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders have sold 8,924 shares of company stock worth $1,620,945. 5.50% of the stock is owned by corporate insiders.
Penumbra, Inc designs, develops, manufactures, and markets medical devices in the United States and internationally. The company offers aspiration based thrombectomy systems and accessory devices, including revascularization device for mechanical thrombectomy, such as Penumbra System under the Penumbra RED, JET, ACE, 3D Revascularization Device, and Penumbra ENGINE brands, as well as components and accessories; neurovascular embolization coiling systems to treat patients with various sizes of aneurysms and other neurovascular lesions under the Penumbra Coil 400, POD400, PAC400, and Penumbra SMART Coil brand names; and neurovascular access systems designed to provide intracranial access for use in a range of neurovascular therapies under the Neuron, Neuron MAX, Select, BENCHMARK, BMX96, DDC, and PX SLIM brands.
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