Jefferies Financial Group Inc. Invests $760,000 in Penumbra, Inc. (NYSE:PEN)

Jefferies Financial Group Inc. bought a new stake in shares of Penumbra, Inc. (NYSE:PEN - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 3,200 shares of the company's stock, valued at approximately $760,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PEN. Norges Bank acquired a new position in Penumbra during the fourth quarter valued at $54,396,000. T. Rowe Price Investment Management Inc. lifted its position in Penumbra by 47.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 707,061 shares of the company's stock valued at $167,913,000 after purchasing an additional 227,506 shares during the period. Baillie Gifford & Co. lifted its position in Penumbra by 23.4% during the fourth 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 during the period. Adage Capital Partners GP L.L.C. acquired a new position in Penumbra during the fourth quarter valued at $23,866,000. Finally, Baird Financial Group Inc. lifted its position in Penumbra by 43.9% during the fourth quarter. Baird Financial Group Inc. now owns 280,198 shares of the company's stock valued at $66,541,000 after purchasing an additional 85,542 shares during the period. 88.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Penumbra news, Director Thomas Wilder sold 360 shares of the business's stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $264.58, for a total value of $95,248.80. Following the sale, the director now owns 4,533 shares of the company's stock, valued at $1,199,341.14. The trade was a 7.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Maggie Yuen sold 2,000 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $286.00, for a total value of $572,000.00. Following the transaction, the chief financial officer now owns 15,243 shares of the company's stock, valued at approximately $4,359,498. This represents a 11.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 192,996 shares of company stock valued at $54,574,678. Company insiders own 5.00% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on PEN shares. Wall Street Zen downgraded shares of Penumbra from a "strong-buy" rating to a "buy" rating in a research report on Saturday, May 24th. Royal Bank of Canada upped their price objective on shares of Penumbra from $315.00 to $330.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. BTIG Research reiterated a "buy" rating on shares of Penumbra in a research report on Thursday, April 24th. Bank of America started coverage on shares of Penumbra in a research report on Friday, March 14th. They issued a "buy" rating and a $320.00 price objective for the company. Finally, Canaccord Genuity Group upped their price objective on shares of Penumbra from $323.00 to $340.00 and gave the stock a "buy" rating in a research report on Wednesday, February 19th. Three research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Penumbra has a consensus rating of "Moderate Buy" and an average price target of $302.40.

Penumbra Trading Up 0.7%

Shares of Penumbra stock traded up $1.77 during mid-day trading on Friday, hitting $267.30. The stock had a trading volume of 503,748 shares, compared to its average volume of 446,271. The firm has a 50-day moving average of $278.17 and a two-hundred day moving average of $266.03. Penumbra, Inc. has a 12-month low of $148.00 and a 12-month high of $310.00. The company has a quick ratio of 3.25, a current ratio of 6.01 and a debt-to-equity ratio of 0.02. The firm has a market cap of $10.35 billion, a P/E ratio of 786.18, a price-to-earnings-growth ratio of 2.83 and a beta of 0.53.

Penumbra (NYSE:PEN - Get Free Report) last issued its quarterly earnings data 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. Penumbra had a return on equity of 9.74% and a net margin of 1.17%. The firm had revenue of $324.14 million during the quarter, compared to the consensus estimate of $315.72 million. During the same period last year, the company earned $0.41 EPS. The company's quarterly revenue was up 16.3% on a year-over-year basis. Sell-side analysts forecast that Penumbra, Inc. will post 3.67 earnings per share for the current year.

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.