Raymond James Financial Inc. Has $9.32 Million Stock Holdings in Penumbra, Inc. $PEN

Key Points

• Raymond James Financial Inc. increased its stake in Penumbra, Inc. by 38.5% in the first quarter, holding approximately 0.09% of the company valued at $9.3 million.
• Other major investors also significantly boosted their positions, with JPMorgan Chase & Co. lifting its stake by 437%, owning shares worth roughly $188 million.
• Analysts have set a consensus price target of $300.47 for Penumbra, Inc., reflecting a range of opinions from "Strong Buy" to "Hold" ratings from various firms.

Raymond James Financial Inc. boosted its holdings in shares of Penumbra, Inc. (NYSE:PEN - Free Report) by 38.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 34,850 shares of the company's stock after purchasing an additional 9,687 shares during the quarter. Raymond James Financial Inc. owned approximately 0.09% of Penumbra worth $9,319,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Northern Trust Corp increased its holdings in shares of Penumbra by 20.8% in the 4th quarter. Northern Trust Corp now owns 318,230 shares of the company's stock valued at $75,573,000 after acquiring an additional 54,890 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its holdings in shares of Penumbra by 41.8% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 1,760 shares of the company's stock valued at $418,000 after acquiring an additional 519 shares during the last quarter. Algert Global LLC increased its holdings in shares of Penumbra by 29.9% in the 4th quarter. Algert Global LLC now owns 18,974 shares of the company's stock valued at $4,506,000 after acquiring an additional 4,362 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Penumbra by 59.3% in the 4th quarter. BNP Paribas Financial Markets now owns 6,523 shares of the company's stock valued at $1,549,000 after acquiring an additional 2,429 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of Penumbra by 19.9% in the 4th quarter. Bank of America Corp DE now owns 346,528 shares of the company's stock valued at $82,293,000 after acquiring an additional 57,421 shares during the last quarter. 88.88% of the stock is currently owned by hedge funds and other institutional investors.

Penumbra Stock Performance

PEN stock traded up $8.91 during trading on Thursday, reaching $278.62. 285,160 shares of the company's stock were exchanged, compared to its average volume of 492,813. The company has a quick ratio of 4.04, a current ratio of 6.75 and a debt-to-equity ratio of 0.02. Penumbra, Inc. has a 1-year low of $184.80 and a 1-year high of $310.00. The company's fifty day moving average price is $248.30 and its 200-day moving average price is $265.47. The firm has a market cap of $10.87 billion, a PE ratio of 74.10, a P/E/G ratio of 2.45 and a beta of 0.45.

Penumbra (NYSE:PEN - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.81 by $0.05. Penumbra had a return on equity of 11.55% and a net margin of 11.54%.The company had revenue of $339.46 million during the quarter, compared to analyst estimates of $327.37 million. During the same quarter in the previous year, the firm posted $0.64 EPS. The firm's quarterly revenue was up 13.4% on a year-over-year basis. Penumbra has set its FY 2025 guidance at EPS. On average, research analysts expect that Penumbra, Inc. will post 3.67 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PEN has been the subject of a number of research analyst reports. William Blair upgraded Penumbra to a "strong-buy" rating in a report on Friday, July 18th. Canaccord Genuity Group set a $350.00 price target on Penumbra and gave the company a "buy" rating in a report on Wednesday, July 30th. UBS Group set a $335.00 price target on Penumbra and gave the company a "buy" rating in a report on Wednesday, July 30th. Royal Bank Of Canada lowered their price target on Penumbra from $330.00 to $325.00 and set an "outperform" rating for the company in a report on Wednesday, July 30th. Finally, Evercore ISI began coverage on Penumbra in a research note on Tuesday. They set an "outperform" rating and a $300.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, Penumbra has a consensus rating of "Moderate Buy" and a consensus price target of $302.93.

Insiders Place Their Bets

In other news, Director Arani Bose sold 12,000 shares of the company's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $250.65, for a total value of $3,007,800.00. Following the completion of the sale, the director owned 558 shares in the company, valued at $139,862.70. This represents a 95.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Johanna Roberts sold 600 shares of the company's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $238.94, for a total value of $143,364.00. Following the completion of the sale, the executive vice president owned 65,457 shares of the company's stock, valued at approximately $15,640,295.58. This trade represents a 0.91% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 111,487 shares of company stock valued at $27,494,779. 5.00% of the stock is currently owned by insiders.

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.