Raymond James Financial Inc. Invests $5.98 Million in Penumbra, Inc. (NYSE:PEN)

Raymond James Financial Inc. purchased a new stake in Penumbra, Inc. (NYSE:PEN - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 25,163 shares of the company's stock, valued at approximately $5,976,000. Raymond James Financial Inc. owned about 0.07% of Penumbra as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of PEN. China Universal Asset Management Co. Ltd. bought a new stake in shares of Penumbra in the 4th quarter worth about $573,000. E. Ohman J or Asset Management AB boosted its stake in Penumbra by 10.4% in the fourth quarter. E. Ohman J or Asset Management AB now owns 21,312 shares of the company's stock valued at $5,061,000 after acquiring an additional 2,000 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Penumbra by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 271,574 shares of the company's stock worth $64,493,000 after purchasing an additional 3,807 shares during the period. Washington Capital Management Inc. acquired a new position in Penumbra during the 4th quarter valued at approximately $226,000. Finally, Allspring Global Investments Holdings LLC grew its stake in Penumbra by 39.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 299,397 shares of the company's stock worth $71,831,000 after buying an additional 85,284 shares during the last quarter. Institutional investors and hedge funds own 88.88% of the company's stock.

Wall Street Analyst Weigh In

PEN has been the subject of several analyst reports. BTIG Research reissued a "buy" rating on shares of Penumbra in a report on Thursday, April 24th. Morgan Stanley lifted their target price on Penumbra from $240.00 to $260.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 19th. Piper Sandler restated an "overweight" rating and set a $330.00 price target (up from $250.00) on shares of Penumbra in a research report on Wednesday, February 19th. Needham & Company LLC reiterated a "hold" rating on shares of Penumbra in a research note on Wednesday, February 19th. Finally, Truist Financial upped their target price on Penumbra from $315.00 to $330.00 and gave the stock a "buy" rating in a research report on Thursday, April 24th. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Penumbra presently has an average rating of "Moderate Buy" and an average target price of $302.40.

Penumbra Stock Down 1.5 %

Shares of NYSE PEN traded down $4.55 during trading hours on Wednesday, hitting $292.36. The stock had a trading volume of 520,775 shares, compared to its average volume of 426,570. The company has a market capitalization of $11.32 billion, a P/E ratio of 859.88, a P/E/G ratio of 2.83 and a beta of 0.56. The firm's 50-day moving average price is $276.75 and its two-hundred day moving average price is $256.41. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.25 and a current ratio of 6.01. Penumbra, Inc. has a 52 week low of $148.00 and a 52 week high of $310.00.

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

Insider Activity

In other news, CAO Lambert Shiu sold 501 shares of Penumbra stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $282.88, for a total value of $141,722.88. Following the transaction, the chief accounting officer now directly owns 32,969 shares in the company, valued at approximately $9,326,270.72. The trade was a 1.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Arani Bose sold 12,000 shares of the company's stock in a transaction that occurred on Friday, April 25th. The stock was sold at an average price of $298.73, for a total value of $3,584,760.00. Following the transaction, the director now owns 302,819 shares of the company's stock, valued at approximately $90,461,119.87. This trade represents a 3.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 140,446 shares of company stock valued at $39,543,953. Insiders own 5.00% of the company's stock.

Penumbra Company 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.