Raymond James Financial Inc. Makes New Investment in Penumbra, Inc. (NYSE:PEN)

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

A number of other hedge funds have also recently added to or reduced their stakes in the company. True Wealth Design LLC purchased a new position in shares of Penumbra in the 3rd quarter valued at approximately $26,000. UMB Bank n.a. lifted its position in Penumbra by 57.4% in the fourth quarter. UMB Bank n.a. now owns 192 shares of the company's stock valued at $46,000 after purchasing an additional 70 shares during the period. Mather Group LLC. boosted its holdings in Penumbra by 208.0% in the 4th quarter. Mather Group LLC. now owns 308 shares of the company's stock valued at $73,000 after purchasing an additional 208 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in Penumbra by 25.0% in the 4th quarter. Jones Financial Companies Lllp now owns 375 shares of the company's stock valued at $89,000 after purchasing an additional 75 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its position in Penumbra by 11.5% during the 3rd quarter. Advisors Asset Management Inc. now owns 416 shares of the company's stock worth $81,000 after purchasing an additional 43 shares during the period. Hedge funds and other institutional investors own 88.88% of the company's stock.

Penumbra Trading Down 0.9 %

NYSE:PEN traded down $2.47 on Friday, hitting $267.16. 304,864 shares of the stock were exchanged, compared to its average volume of 404,302. The stock has a market cap of $10.29 billion, a PE ratio of 785.75, a PEG ratio of 2.83 and a beta of 0.51. Penumbra, Inc. has a fifty-two week low of $148.00 and a fifty-two week 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 stock has a fifty day moving average of $274.49 and a 200-day moving average of $242.13.

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Penumbra (NYSE:PEN - Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.09. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. The company had revenue of $315.52 million during the quarter, compared to analyst estimates of $311.63 million. As a group, equities analysts expect that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have issued reports on PEN shares. UBS Group increased their price objective on Penumbra from $305.00 to $320.00 and gave the stock a "buy" rating in a research report on Wednesday, February 19th. Robert W. Baird raised their price objective on shares of Penumbra from $305.00 to $328.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. Truist Financial increased their target price on shares of Penumbra from $285.00 to $325.00 and gave the company a "buy" rating in a report on Wednesday, February 19th. Needham & Company LLC reissued a "hold" rating on shares of Penumbra in a research note on Wednesday, February 19th. Finally, JPMorgan Chase & Co. raised their price objective on Penumbra from $230.00 to $285.00 and gave the company an "overweight" rating in a research note on Wednesday, February 19th. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $294.47.

Insider Buying and Selling

In other Penumbra news, Director Arani Bose sold 12,000 shares of Penumbra stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $283.77, for a total transaction of $3,405,240.00. Following the sale, the director now directly owns 314,819 shares in the company, valued at $89,336,187.63. The trade was a 3.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Harpreet Grewal sold 167 shares of the stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $241.28, for a total value of $40,293.76. Following the transaction, the director now owns 8,530 shares of the company's stock, valued at approximately $2,058,118.40. This trade represents a 1.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 93,518 shares of company stock valued at $26,400,219. Corporate insiders own 5.00% of the company's stock.

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.