E. Ohman J or Asset Management AB Buys 4,000 Shares of Penumbra, Inc. (NYSE:PEN)

E. Ohman J or Asset Management AB boosted its stake in shares of Penumbra, Inc. (NYSE:PEN - Free Report) by 26.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,312 shares of the company's stock after purchasing an additional 4,000 shares during the quarter. E. Ohman J or Asset Management AB's holdings in Penumbra were worth $3,753,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of PEN. Diversified Trust Co boosted its stake in Penumbra by 112.1% during the 1st quarter. Diversified Trust Co now owns 6,720 shares of the company's stock valued at $1,500,000 after purchasing an additional 3,552 shares during the period. State of Michigan Retirement System grew its stake in shares of Penumbra by 3.3% in the first quarter. State of Michigan Retirement System now owns 9,514 shares of the company's stock worth $2,123,000 after purchasing an additional 300 shares in the last quarter. Norden Group LLC bought a new stake in shares of Penumbra during the first quarter valued at about $4,515,000. Retirement Systems of Alabama lifted its holdings in Penumbra by 0.3% in the first quarter. Retirement Systems of Alabama now owns 48,467 shares of the company's stock worth $10,817,000 after purchasing an additional 127 shares during the period. Finally, Janney Montgomery Scott LLC acquired a new position in Penumbra during the 1st quarter valued at about $689,000. Institutional investors and hedge funds own 88.88% of the company's stock.

Insider Transactions at Penumbra

In other Penumbra news, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $175.98, for a total value of $105,588.00. Following the completion of the sale, the executive vice president now directly owns 61,688 shares in the company, valued at $10,855,854.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Adam Elsesser sold 15,000 shares of the firm's stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $197.71, for a total value of $2,965,650.00. Following the transaction, the chief executive officer now directly owns 882,582 shares of the company's stock, valued at approximately $174,495,287.22. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Johanna Roberts sold 600 shares of the business's stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $175.98, for a total value of $105,588.00. Following the completion of the sale, the executive vice president now owns 61,688 shares of the company's stock, valued at approximately $10,855,854.24. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,368 shares of company stock valued at $6,893,118 in the last three months. Corporate insiders own 5.00% of the company's stock.

Penumbra Stock Down 0.9 %

Shares of NYSE PEN traded down $1.84 during mid-day trading on Friday, reaching $204.71. The company had a trading volume of 244,600 shares, compared to its average volume of 377,529. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.77 and a current ratio of 6.25. The company has a market capitalization of $7.95 billion, a price-to-earnings ratio of 602.09, a PEG ratio of 2.35 and a beta of 0.54. The stock has a fifty day moving average of $198.41 and a two-hundred day moving average of $194.08. Penumbra, Inc. has a 12-month low of $148.00 and a 12-month high of $277.34.

Penumbra (NYSE:PEN - Get Free Report) last released its earnings results on Tuesday, July 30th. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.56 by $0.08. Penumbra had a net margin of 1.26% and a return on equity of 8.39%. The company had revenue of $299.40 million during the quarter, compared to the consensus estimate of $298.24 million. During the same quarter in the prior year, the firm earned $0.43 EPS. The company's revenue was up 14.5% compared to the same quarter last year. As a group, equities research analysts expect that Penumbra, Inc. will post 2.58 EPS for the current year.

Penumbra declared that its board has approved a share repurchase program on Tuesday, August 13th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 2.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on PEN shares. Citigroup increased their price objective on shares of Penumbra from $178.00 to $200.00 and gave the company a "neutral" rating in a report on Thursday, August 22nd. Piper Sandler reissued an "overweight" rating and issued a $225.00 price objective (up previously from $200.00) on shares of Penumbra in a research note on Friday, October 18th. BTIG Research raised their target price on Penumbra from $224.00 to $234.00 and gave the company a "buy" rating in a research note on Monday, October 14th. Truist Financial boosted their price target on shares of Penumbra from $200.00 to $235.00 and gave the stock a "buy" rating in a research report on Monday, October 14th. Finally, Canaccord Genuity Group raised their price objective on shares of Penumbra from $176.00 to $235.00 and gave the company a "buy" rating in a research report on Wednesday, October 16th. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $220.17.

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.