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 its most recent filing with the Securities and Exchange Commission. The firm owned 3,827 shares of the company's stock after buying an additional 1,054 shares during the quarter. Lazard Asset Management LLC's holdings in Penumbra were worth $908,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. UMB Bank n.a. grew its position in shares of Penumbra by 57.4% in the 4th quarter. UMB Bank n.a. now owns 192 shares of the company's stock valued at $46,000 after purchasing an additional 70 shares during the period. Hurley Capital LLC acquired a new position in shares of Penumbra in the fourth quarter valued at approximately $56,000. Huntington National Bank increased its position in shares of Penumbra by 138.7% during the fourth quarter. Huntington National Bank now owns 265 shares of the company's stock worth $63,000 after acquiring an additional 154 shares in the last quarter. Mather Group LLC. raised its holdings in shares of Penumbra by 208.0% during the fourth quarter. Mather Group LLC. now owns 308 shares of the company's stock worth $73,000 after acquiring an additional 208 shares during the period. Finally, Jones Financial Companies Lllp boosted its stake in Penumbra by 25.0% in the 4th quarter. Jones Financial Companies Lllp now owns 375 shares of the company's stock worth $89,000 after purchasing an additional 75 shares during the period. 88.88% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Penumbra

In other Penumbra news, CFO Maggie Yuen sold 2,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $286.00, for a total transaction of $572,000.00. Following the transaction, the chief financial officer now owns 15,243 shares in the company, valued at $4,359,498. This represents a 11.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Thomas Wilder sold 360 shares of Penumbra stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $264.58, for a total transaction of $95,248.80. Following the completion of the sale, the director now owns 4,533 shares of the company's stock, valued at approximately $1,199,341.14. The trade was a 7.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 176,696 shares of company stock worth $50,207,745 in the last ninety days. 4.20% of the stock is owned by company insiders.

Penumbra Price Performance

NYSE:PEN opened at $281.04 on Wednesday. The company has a market cap of $10.88 billion, a P/E ratio of 826.59, a P/E/G ratio of 2.83 and a beta of 0.53. The firm's fifty day moving average price is $280.06 and its two-hundred day moving average price is $264.41. Penumbra, Inc. has a one year low of $148.00 and a one year high of $310.00. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.01 and a quick ratio of 3.25.

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

Wall Street Analyst Weigh In

Several research firms have issued reports on PEN. Robert W. Baird lifted their price target on Penumbra from $316.00 to $325.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. UBS Group restated a "buy" rating and issued a $330.00 target price (up previously from $320.00) on shares of Penumbra in a research note on Thursday, April 24th. Bank of America began coverage on Penumbra in a research report on Friday, March 14th. They set a "buy" rating and a $320.00 price target for the company. JPMorgan Chase & Co. lifted their price objective on shares of Penumbra from $230.00 to $285.00 and gave the company an "overweight" rating in a report on Wednesday, February 19th. Finally, BTIG Research restated a "buy" rating on shares of Penumbra in a report on Thursday, April 24th. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target 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.

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