E. Ohman J or Asset Management AB Acquires 1,700 Shares of Penumbra, Inc. $PEN

Key Points

• E. Ohman J or Asset Management AB increased its stake in Penumbra, Inc. by 10.2% during the second quarter, owning 18,312 shares valued at approximately $4.7 million.
• Penumbra's stock is currently down 1.0% and opened at $273.54, with a market capitalization of $10.67 billion.
• In its latest earnings report, Penumbra reported $0.86 earnings per share, exceeding expectations, and revenue increased by 13.4% year-over-year.

E. Ohman J or Asset Management AB raised its position in shares of Penumbra, Inc. (NYSE:PEN - Free Report) by 10.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,312 shares of the company's stock after acquiring an additional 1,700 shares during the period. E. Ohman J or Asset Management AB's holdings in Penumbra were worth $4,699,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Penumbra by 0.7% during the first quarter. Vanguard Group Inc. now owns 3,675,349 shares of the company's stock valued at $982,825,000 after acquiring an additional 24,727 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Penumbra by 437.0% in the first quarter. JPMorgan Chase & Co. now owns 703,634 shares of the company's stock valued at $188,159,000 after buying an additional 572,606 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in Penumbra by 7.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 321,046 shares of the company's stock worth $87,045,000 after purchasing an additional 21,649 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Penumbra by 4.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 283,821 shares of the company's stock worth $75,897,000 after buying an additional 12,247 shares in the last quarter. Finally, Lord Abbett & CO. LLC acquired a new stake in shares of Penumbra during the first quarter worth approximately $63,731,000. 88.88% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PEN has been the subject of a number of research reports. Royal Bank Of Canada lowered their price target on shares of Penumbra from $330.00 to $325.00 and set an "outperform" rating for the company in a report on Wednesday, July 30th. Canaccord Genuity Group set a $350.00 target price on shares of Penumbra and gave the stock a "buy" rating in a report on Wednesday, July 30th. Truist Financial set a $310.00 price target on shares of Penumbra and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Evercore ISI initiated coverage on shares of Penumbra in a research report on Tuesday, September 2nd. They set an "outperform" rating and a $300.00 price target on the stock. Finally, Morgan Stanley lifted their price target on shares of Penumbra from $260.00 to $266.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $302.93.

Penumbra Stock Performance

PEN traded down $6.54 on Wednesday, reaching $256.42. The company had a trading volume of 403,481 shares, compared to its average volume of 493,500. Penumbra, Inc. has a fifty-two week low of $185.13 and a fifty-two week high of $310.00. The stock has a market cap of $10.00 billion, a P/E ratio of 68.20, a P/E/G ratio of 2.37 and a beta of 0.45. The company's fifty day moving average is $252.94 and its 200 day moving average is $264.60. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.04 and a current ratio of 6.75.

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

Insider Buying and Selling at Penumbra

In other Penumbra news, CFO Maggie Yuen sold 2,000 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $250.00, for a total transaction of $500,000.00. Following the transaction, the chief financial officer owned 12,943 shares in the company, valued at $3,235,750. This represents a 13.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Adam Elsesser sold 16,150 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $233.16, for a total transaction of $3,765,534.00. Following the transaction, the chief executive officer owned 146,258 shares in the company, valued at approximately $34,101,515.28. The trade was a 9.94% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 112,113 shares of company stock worth $27,919,346. 5.00% of the stock is currently owned by company 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.