Lazard Asset Management LLC Has $908,000 Stock Position in Penumbra, Inc. (NYSE:PEN)

Lazard Asset Management LLC increased its holdings in shares of Penumbra, Inc. (NYSE:PEN - Free Report) by 38.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,827 shares of the company's stock after acquiring an additional 1,054 shares during the quarter. Lazard Asset Management LLC's holdings in Penumbra were worth $908,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Barclays PLC increased its holdings in shares of Penumbra by 16.5% during the third quarter. Barclays PLC now owns 18,025 shares of the company's stock valued at $3,502,000 after purchasing an additional 2,559 shares during the period. Park Avenue Securities LLC grew its position in Penumbra by 18.6% in the 4th quarter. Park Avenue Securities LLC now owns 1,665 shares of the company's stock valued at $395,000 after buying an additional 261 shares in the last quarter. Diversify Wealth Management LLC grew its position in Penumbra by 36.3% in the 4th quarter. Diversify Wealth Management LLC now owns 1,645 shares of the company's stock valued at $412,000 after buying an additional 438 shares in the last quarter. UMB Bank n.a. increased its stake in Penumbra by 57.4% during the 4th quarter. UMB Bank n.a. now owns 192 shares of the company's stock valued at $46,000 after buying an additional 70 shares during the period. Finally, Blue Trust Inc. raised its position in shares of Penumbra by 43.4% during the 4th quarter. Blue Trust Inc. now owns 730 shares of the company's stock worth $173,000 after buying an additional 221 shares in the last quarter. Institutional investors and hedge funds own 88.88% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PEN. Wells Fargo & Company increased their price objective on shares of Penumbra from $305.00 to $315.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. Canaccord Genuity Group increased their price target on Penumbra from $323.00 to $340.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. JPMorgan Chase & Co. lifted their price target on Penumbra from $230.00 to $285.00 and gave the company an "overweight" rating in a research report on Wednesday, February 19th. BTIG Research restated a "buy" rating on shares of Penumbra in a report on Thursday, April 24th. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $330.00 target price (up from $250.00) on shares of Penumbra in a report on Wednesday, February 19th. Three investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $302.40.

Insider Buying and Selling

In other news, EVP Johanna Roberts sold 600 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $287.43, for a total value of $172,458.00. Following the completion of the sale, the executive vice president now owns 66,539 shares of the company's stock, valued at $19,125,304.77. This trade represents a 0.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Maggie Yuen sold 2,000 shares of Penumbra stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $299.01, for a total value of $598,020.00. Following the transaction, the chief financial officer now owns 13,957 shares in the company, valued at $4,173,282.57. This represents a 12.53% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 176,696 shares of company stock valued at $50,207,745. Company insiders own 4.20% of the company's stock.

Penumbra Trading Up 0.7%

PEN traded up $1.97 during trading on Monday, reaching $268.72. The company had a trading volume of 235,921 shares, compared to its average volume of 443,992. The firm's 50-day simple moving average is $279.45 and its 200 day simple moving average is $265.62. The company has a market cap of $10.41 billion, a price-to-earnings ratio of 790.35, a PEG ratio of 2.83 and a beta of 0.53. Penumbra, Inc. has a 12-month low of $148.00 and a 12-month high of $310.00. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.25 and a current ratio of 6.01.

Penumbra (NYSE:PEN - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.66 by $0.17. The company had revenue of $324.14 million during the quarter, compared to analysts' expectations of $315.72 million. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. The business's revenue for the quarter was up 16.3% on a year-over-year basis. During the same period last year, the company posted $0.41 earnings per share. Equities research analysts anticipate 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.