Baird Financial Group Inc. Acquires 85,542 Shares of Penumbra, Inc. (NYSE:PEN)

Baird Financial Group Inc. boosted its holdings in Penumbra, Inc. (NYSE:PEN - Free Report) by 43.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 280,198 shares of the company's stock after purchasing an additional 85,542 shares during the period. Baird Financial Group Inc. owned about 0.73% of Penumbra worth $66,541,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. UMB Bank n.a. increased its holdings 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 acquiring an additional 70 shares during the last quarter. Hurley Capital LLC bought a new stake in shares of Penumbra during the 4th quarter valued at about $56,000. Huntington National Bank raised its stake in 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 during the period. Mather Group LLC. raised its stake in 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 fourth quarter. Jones Financial Companies Lllp now owns 375 shares of the company's stock valued at $89,000 after acquiring an additional 75 shares during the period. Institutional investors own 88.88% of the company's stock.

Penumbra Stock Up 3.0 %

NYSE PEN traded up $8.52 during trading on Friday, hitting $297.25. 972,988 shares of the company traded hands, compared to its average volume of 426,873. The business has a fifty day simple moving average of $277.75 and a 200 day simple moving average of $260.95. Penumbra, Inc. has a 12 month low of $148.00 and a 12 month high of $310.00. The company has a current ratio of 6.01, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $11.51 billion, a P/E ratio of 874.26, a PEG ratio of 2.83 and a beta of 0.53.

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

Analysts Set New Price Targets

Several analysts recently weighed in on PEN shares. 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 research report on Wednesday, February 19th. Robert W. Baird boosted their price target on Penumbra from $316.00 to $325.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Bank of America assumed coverage on shares of Penumbra in a report on Friday, March 14th. They issued a "buy" rating and a $320.00 price objective for the company. Canaccord Genuity Group increased their price objective on shares of Penumbra from $323.00 to $340.00 and gave the company a "buy" rating in a report on Wednesday, February 19th. Finally, UBS Group reaffirmed a "buy" rating and set a $330.00 price target (up from $320.00) on shares of Penumbra in a research note on Thursday, April 24th. Three investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $302.40.

Insider Activity at Penumbra

In other news, CEO Adam Elsesser sold 16,650 shares of the stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $289.37, for a total value of $4,818,010.50. Following the completion of the transaction, the chief executive officer now directly owns 75,237 shares of the company's stock, valued at approximately $21,771,330.69. This represents a 18.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Thomas Wilder sold 360 shares of the company's stock in a transaction dated Monday, March 31st. The stock was 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 directly owns 4,533 shares in the company, valued at approximately $1,199,341.14. The trade was a 7.36 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 159,096 shares of company stock worth $44,959,983. 5.00% of the stock is owned by corporate 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.