Raymond James Financial Inc. Purchases New Position in Penumbra, Inc. (NYSE:PEN)

Raymond James Financial Inc. acquired a new position in Penumbra, Inc. (NYSE:PEN) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 25,163 shares of the company’s stock, valued at approximately $5,976,000. Raymond James Financial Inc. owned approximately 0.07% of Penumbra at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Quadrant Capital Group LLC increased its holdings in Penumbra by 6.6% in the fourth quarter. Quadrant Capital Group LLC now owns 632 shares of the company’s stock valued at $150,000 after buying an additional 39 shares in the last quarter. Pallas Capital Advisors LLC increased its position in shares of Penumbra by 3.8% in the fourth quarter. Pallas Capital Advisors LLC now owns 1,108 shares of the company’s stock valued at $263,000 after buying an additional 41 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of Penumbra by 1.0% during the 4th quarter. Pacer Advisors Inc. now owns 5,721 shares of the company’s stock worth $1,359,000 after buying an additional 57 shares during the period. CIBC Asset Management Inc raised its position in Penumbra by 5.4% during the fourth quarter. CIBC Asset Management Inc now owns 1,183 shares of the company’s stock worth $281,000 after acquiring an additional 61 shares during the period. Finally, Corient Private Wealth LLC lifted its holdings in Penumbra by 3.7% during the fourth quarter. Corient Private Wealth LLC now owns 1,695 shares of the company’s stock valued at $403,000 after purchasing an additional 61 shares in the last quarter. Institutional investors and hedge funds own 88.88% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. StockNews.com upgraded Penumbra from a “hold” rating to a “buy” rating in a research note on Thursday. Bank of America began coverage on shares of Penumbra in a report on Friday, March 14th. They set a “buy” rating and a $320.00 target price for the company. JPMorgan Chase & Co. upped their price objective on shares of Penumbra from $230.00 to $285.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Truist Financial raised their target price on shares of Penumbra from $315.00 to $330.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Stifel Nicolaus set a $318.00 price objective on Penumbra and gave the stock a “buy” rating in a research note on Thursday. Three research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Penumbra has a consensus rating of “Moderate Buy” and a consensus target price of $302.40.

Insider Buying and Selling at Penumbra

In related news, Director Thomas Wilder sold 360 shares of the business’s stock in a transaction on Monday, March 31st. The shares were sold at an average price of $264.58, for a total transaction of $95,248.80. Following the completion of the transaction, the director now owns 4,533 shares in the company, valued at approximately $1,199,341.14. The trade was a 7.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Maggie Yuen sold 2,000 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $286.00, for a total value of $572,000.00. Following the completion of the transaction, the chief financial officer now owns 15,243 shares in the company, valued at approximately $4,359,498. The trade was a 11.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 127,846 shares of company stock valued at $35,779,187 in the last 90 days. Company insiders own 5.00% of the company’s stock.

Penumbra Trading Up 7.0 %

PEN opened at $298.30 on Friday. The company has a quick ratio of 3.25, a current ratio of 6.01 and a debt-to-equity ratio of 0.02. The firm has a market cap of $11.54 billion, a P/E ratio of 877.35, a P/E/G ratio of 2.83 and a beta of 0.56. Penumbra, Inc. has a 52 week low of $148.00 and a 52 week high of $310.00. The business has a fifty day simple moving average of $276.40 and a 200-day simple moving average of $253.66.

Penumbra (NYSE:PEN) last announced its earnings results on Wednesday, April 23rd. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.17. The company had revenue of $324.14 million during the quarter, compared to analysts’ expectations of $315.72 million. Penumbra had a return on equity of 9.74% and a net margin of 1.17%. On average, equities analysts expect that Penumbra, Inc. will post 3.67 earnings per share for the current year.

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.