Raymond James & Associates Has $2.67 Million Holdings in Penumbra, Inc. (NYSE:PEN)

Raymond James & Associates lowered its stake in shares of Penumbra, Inc. (NYSE:PEN - Free Report) by 28.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 10,618 shares of the company's stock after selling 4,167 shares during the period. Raymond James & Associates' holdings in Penumbra were worth $2,671,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in PEN. 17 Capital Partners LLC purchased a new position in shares of Penumbra in the 4th quarter valued at $322,000. Diversified Trust Co grew its position in shares of Penumbra by 43.8% in the 4th quarter. Diversified Trust Co now owns 3,168 shares of the company's stock valued at $797,000 after buying an additional 965 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its position in shares of Penumbra by 24.5% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 31,414 shares of the company's stock valued at $7,598,000 after buying an additional 6,192 shares during the last quarter. Comerica Bank purchased a new position in shares of Penumbra in the 3rd quarter valued at $3,819,000. Finally, Braun Stacey Associates Inc. grew its position in Penumbra by 6.6% during the 3rd quarter. Braun Stacey Associates Inc. now owns 58,840 shares of the company's stock worth $14,234,000 after purchasing an additional 3,632 shares during the last quarter. Hedge funds and other institutional investors own 88.88% of the company's stock.

Insider Activity at Penumbra

In related news, Director Don W. Kassing sold 170 shares of the business's stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $223.18, for a total value of $37,940.60. Following the completion of the sale, the director now directly owns 1,175 shares in the company, valued at $262,236.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Penumbra news, EVP Johanna Roberts sold 600 shares of the business's stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $217.07, for a total transaction of $130,242.00. Following the completion of the sale, the executive vice president now directly owns 64,281 shares in the company, valued at $13,953,476.67. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Don W. Kassing sold 170 shares of the business's stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $223.18, for a total transaction of $37,940.60. Following the sale, the director now owns 1,175 shares of the company's stock, valued at $262,236.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,648 shares of company stock worth $2,369,903. 5.30% of the stock is owned by company insiders.

Penumbra Trading Down 3.3 %

Shares of NYSE:PEN traded down $7.28 during trading on Monday, reaching $210.17. The stock had a trading volume of 208,826 shares, compared to its average volume of 345,081. The business has a fifty day moving average price of $239.43 and a 200-day moving average price of $233.37. The company has a quick ratio of 3.49, a current ratio of 6.06 and a debt-to-equity ratio of 0.02. The stock has a market cap of $8.13 billion, a P/E ratio of 90.98, a PEG ratio of 2.15 and a beta of 0.51. Penumbra, Inc. has a fifty-two week low of $180.93 and a fifty-two week high of $348.67.

Penumbra (NYSE:PEN - Get Free Report) last released its earnings results on Thursday, February 22nd. The company reported $0.76 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.71 by $0.05. Penumbra had a net margin of 8.59% and a return on equity of 7.49%. The firm had revenue of $284.68 million during the quarter, compared to the consensus estimate of $286.62 million. During the same period in the previous year, the firm earned $0.16 earnings per share. Penumbra's revenue was up 28.7% compared to the same quarter last year. As a group, analysts anticipate that Penumbra, Inc. will post 2.85 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PEN has been the topic of several analyst reports. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $289.00 target price on shares of Penumbra in a report on Friday, February 23rd. JPMorgan Chase & Co. downgraded shares of Penumbra from an "overweight" rating to a "neutral" rating and lowered their target price for the company from $284.00 to $250.00 in a report on Friday, February 23rd. TheStreet upgraded shares of Penumbra from a "d+" rating to a "c-" rating in a research note on Friday, January 12th. Canaccord Genuity Group reiterated a "buy" rating and issued a $284.00 price objective on shares of Penumbra in a research note on Friday, February 23rd. Finally, Truist Financial reduced their price objective on shares of Penumbra from $290.00 to $280.00 and set a "buy" rating for the company in a research note on Friday, March 22nd. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $304.45.

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.