Penumbra, Inc. $PEN Shares Purchased by E. Ohman J or Asset Management AB

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

Several other hedge funds also recently added to or reduced their stakes in the business. Sheets Smith Investment Management purchased a new stake in Penumbra in the first quarter valued at $773,000. Belpointe Asset Management LLC purchased a new stake in shares of Penumbra during the 1st quarter worth about $732,000. Fortis Capital Advisors LLC purchased a new stake in shares of Penumbra during the 1st quarter worth about $732,000. Glenview Trust co purchased a new stake in shares of Penumbra during the 1st quarter worth about $230,000. Finally, Bayforest Capital Ltd boosted its stake in shares of Penumbra by 35.9% during the 1st quarter. Bayforest Capital Ltd now owns 1,431 shares of the company's stock worth $383,000 after acquiring an additional 378 shares in the last quarter. 88.88% of the stock is owned by hedge funds and other institutional investors.

Penumbra Stock Down 0.2%

NYSE:PEN traded down $0.42 during midday trading on Friday, hitting $257.33. 85,498 shares of the company were exchanged, compared to its average volume of 490,746. The company has a fifty day simple moving average of $253.22 and a 200 day simple moving average of $264.41. Penumbra, Inc. has a fifty-two week low of $185.13 and a fifty-two week high of $310.00. The company has a current ratio of 6.75, a quick ratio of 4.04 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $10.04 billion, a PE ratio of 68.36, a price-to-earnings-growth ratio of 2.31 and a beta of 0.45.

Penumbra (NYSE:PEN - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The company reported $0.86 EPS for the quarter, topping 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 firm had revenue of $339.46 million for the quarter, compared to the consensus estimate of $327.37 million. During the same quarter in the previous year, the firm earned $0.64 earnings per share. The firm's revenue was up 13.4% on a year-over-year basis. Penumbra has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. William Blair raised shares of Penumbra to a "strong-buy" rating in a research note on Friday, July 18th. Robert W. Baird upped their price target on shares of Penumbra from $283.00 to $285.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Morgan Stanley upped 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. Evercore ISI began coverage on shares of Penumbra in a research report on Tuesday, September 2nd. They set an "outperform" rating and a $300.00 price target for the company. Finally, 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. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Penumbra has a consensus rating of "Moderate Buy" and an average price target of $302.93.

Insider Buying and Selling

In other Penumbra news, CFO Maggie Yuen sold 2,000 shares of the company's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $250.00, for a total value of $500,000.00. Following the sale, the chief financial officer owned 12,943 shares of the company's stock, valued at $3,235,750. This represents a 13.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Adam Elsesser sold 15,800 shares of the company's stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $269.65, for a total transaction of $4,260,470.00. Following the transaction, the chief executive officer directly owned 182,460 shares in the company, valued at $49,200,339. The trade was a 7.97% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 112,113 shares of company stock valued at $27,919,346. 4.20% of the stock is owned by company insiders.

About Penumbra

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.