Zurcher Kantonalbank Zurich Cantonalbank Has $248,000 Position in Penumbra Inc (PEN)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Penumbra Inc (NYSE:PEN) by 10.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,028 shares of the company’s stock after purchasing an additional 185 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Penumbra were worth $248,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Dimensional Fund Advisors LP bought a new position in Penumbra during the 2nd quarter worth approximately $5,990,000. Polaris Greystone Financial Group LLC bought a new stake in shares of Penumbra in the 3rd quarter worth approximately $723,000. Leavell Investment Management Inc. grew its position in shares of Penumbra by 109.3% in the 3rd quarter. Leavell Investment Management Inc. now owns 5,650 shares of the company’s stock worth $846,000 after buying an additional 2,950 shares during the last quarter. First Trust Advisors LP grew its position in shares of Penumbra by 294.2% in the 3rd quarter. First Trust Advisors LP now owns 261,832 shares of the company’s stock worth $39,196,000 after buying an additional 195,413 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its position in shares of Penumbra by 14.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 55,816 shares of the company’s stock worth $8,355,000 after buying an additional 7,072 shares during the last quarter. 72.22% of the stock is owned by hedge funds and other institutional investors.

PEN has been the topic of a number of recent analyst reports. Bank of America reiterated a “buy” rating and issued a $36.00 price objective on shares of Penumbra in a research report on Monday, October 29th. BMO Capital Markets lifted their price objective on Penumbra from $150.00 to $152.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 6th. Zacks Investment Research lowered Penumbra from a “buy” rating to a “hold” rating in a research report on Tuesday, November 6th. ValuEngine upgraded Penumbra from a “hold” rating to a “buy” rating in a research report on Monday, February 4th. Finally, Canaccord Genuity lifted their price objective on Penumbra from $138.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, January 30th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $143.43.

In related news, Director Don W. Kassing sold 1,086 shares of Penumbra stock in a transaction that occurred on Tuesday, January 29th. The stock was sold at an average price of $136.69, for a total transaction of $148,445.34. Following the sale, the director now directly owns 2,487 shares in the company, valued at $339,948.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Harpreet Grewal sold 666 shares of Penumbra stock in a transaction that occurred on Thursday, January 3rd. The shares were sold at an average price of $121.27, for a total value of $80,765.82. Following the sale, the director now owns 13,247 shares in the company, valued at $1,606,463.69. The disclosure for this sale can be found here. Insiders have sold 2,952 shares of company stock worth $399,839 over the last 90 days. 10.70% of the stock is currently owned by corporate insiders.

Shares of NYSE PEN traded up $1.37 during mid-day trading on Monday, hitting $148.86. 45,455 shares of the stock traded hands, compared to its average volume of 267,097. Penumbra Inc has a 52 week low of $88.80 and a 52 week high of $167.35. The firm has a market capitalization of $5.09 billion, a PE ratio of -14,886.00, a P/E/G ratio of 10.15 and a beta of 0.85.

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About Penumbra

Penumbra, Inc designs, develops, manufactures, and markets medical devices in the United States, Europe, Canada, Australia, Japan, and internationally. The company offers neurovascular access systems designed to provide intracranial access for use in a range of neurovascular therapies under the Neuron, Neuron MAX, Select, BENCHMARK, DDC, and PX SLIM brands; aspiration based thrombectomy systems and accessory devices, including revascularization device for mechanical thrombectomy, such as Penumbra System under the ACE and the 3D Revascularization Device brands.

Read More: Leveraged Buyout (LBO) Explained

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Institutional Ownership by Quarter for Penumbra (NYSE:PEN)

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