BNP Paribas Financial Markets Boosts Stake in Penumbra, Inc. (NYSE:PEN)

BNP Paribas Financial Markets grew its stake in shares of Penumbra, Inc. (NYSE:PEN - Free Report) by 59.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,523 shares of the company's stock after acquiring an additional 2,429 shares during the period. BNP Paribas Financial Markets' holdings in Penumbra were worth $1,549,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Quadrant Capital Group LLC raised its stake in shares of Penumbra by 6.6% during the fourth quarter. Quadrant Capital Group LLC now owns 632 shares of the company's stock valued at $150,000 after acquiring an additional 39 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of Penumbra by 1.0% during the fourth quarter. Pacer Advisors Inc. now owns 5,721 shares of the company's stock valued at $1,359,000 after acquiring an additional 57 shares in the last quarter. CIBC Asset Management Inc raised its stake in shares of Penumbra by 5.4% during the fourth quarter. CIBC Asset Management Inc now owns 1,183 shares of the company's stock valued at $281,000 after acquiring an additional 61 shares in the last quarter. Corient Private Wealth LLC raised its stake in shares of Penumbra by 3.7% during the fourth quarter. Corient Private Wealth LLC now owns 1,695 shares of the company's stock valued at $403,000 after acquiring an additional 61 shares in the last quarter. Finally, UMB Bank n.a. raised its stake in shares of Penumbra by 57.4% during the fourth quarter. UMB Bank n.a. now owns 192 shares of the company's stock valued at $46,000 after acquiring an additional 70 shares in the last quarter. Institutional investors own 88.88% of the company's stock.

Insider Activity

In other news, Director Bridget O'rourke sold 100 shares of the business's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $286.15, for a total transaction of $28,615.00. Following the sale, the director now directly owns 5,423 shares of the company's stock, valued at $1,551,791.45. The trade was a 1.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Adam Elsesser sold 61,600 shares of the business's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $283.59, for a total transaction of $17,469,144.00. Following the sale, the chief executive officer now directly owns 16,376 shares in the company, valued at $4,644,069.84. This trade represents a 79.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 176,696 shares of company stock valued at $50,207,745 over the last ninety days. 4.20% of the stock is currently owned by insiders.

Penumbra Stock Up 0.7%

Shares of PEN stock traded up $1.97 during trading hours on Friday, reaching $268.72. 235,921 shares of the company's stock were exchanged, compared to its average volume of 443,992. The stock's 50 day moving average is $279.68 and its 200-day moving average is $265.17. The company has a market cap of $10.41 billion, a price-to-earnings ratio of 790.35, a P/E/G ratio of 2.83 and a beta of 0.53. 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, Inc. has a fifty-two week low of $148.00 and a fifty-two week high of $310.00.

Penumbra (NYSE:PEN - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $0.83 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.66 by $0.17. The business had revenue of $324.14 million for the quarter, compared to the consensus estimate of $315.72 million. Penumbra had a return on equity of 9.74% and a net margin of 1.17%. The business's quarterly revenue was up 16.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.41 earnings per share. Analysts predict that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on PEN shares. Royal Bank of Canada lifted their price target on shares of Penumbra from $315.00 to $330.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Stifel Nicolaus set a $318.00 price target on shares of Penumbra and gave the company a "buy" rating in a research note on Thursday, April 24th. BTIG Research reissued a "buy" rating on shares of Penumbra in a research note on Thursday, April 24th. Canaccord Genuity Group boosted their price objective on shares of Penumbra from $323.00 to $340.00 and gave the stock a "buy" rating in a research note on Wednesday, February 19th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Penumbra in a research note on Wednesday, February 19th. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $302.40.

Penumbra 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.