E. Ohman J or Asset Management AB Has $4.44 Million Stake in Penumbra, Inc. (NYSE:PEN)

E. Ohman J or Asset Management AB trimmed its holdings in Penumbra, Inc. (NYSE:PEN) by 22.1% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 16,612 shares of the company’s stock after selling 4,700 shares during the period. E. Ohman J or Asset Management AB’s holdings in Penumbra were worth $4,442,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its position in shares of Penumbra by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 271,574 shares of the company’s stock valued at $64,493,000 after buying an additional 3,807 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Penumbra by 39.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 299,397 shares of the company’s stock worth $71,831,000 after purchasing an additional 85,284 shares during the period. Proficio Capital Partners LLC bought a new position in shares of Penumbra during the fourth quarter worth approximately $3,553,000. Barclays PLC increased its stake in shares of Penumbra by 16.5% during the third quarter. Barclays PLC now owns 18,025 shares of the company’s stock worth $3,502,000 after purchasing an additional 2,559 shares during the period. Finally, HighTower Advisors LLC increased its stake in shares of Penumbra by 3.2% during the fourth quarter. HighTower Advisors LLC now owns 5,980 shares of the company’s stock worth $1,420,000 after purchasing an additional 188 shares during the period. 88.88% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PEN. JPMorgan Chase & Co. increased their target price on Penumbra from $230.00 to $285.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. Canaccord Genuity Group increased their target price on Penumbra from $323.00 to $340.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Truist Financial increased their target price on Penumbra from $315.00 to $330.00 and gave the stock a “buy” rating in a research note on Thursday, April 24th. Bank of America began coverage on Penumbra in a research note on Friday, March 14th. They set a “buy” rating and a $320.00 target price on the stock. Finally, Piper Sandler reiterated an “overweight” rating and set a $330.00 target price (up previously from $250.00) on shares of Penumbra in a research note on Wednesday, February 19th. Three equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $302.40.

Penumbra Trading Up 1.2%

Shares of PEN opened at $258.40 on Friday. Penumbra, Inc. has a 52-week low of $148.00 and a 52-week high of $310.00. The business’s fifty day moving average is $277.14 and its 200-day moving average is $266.58. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.25 and a current ratio of 6.01. The firm has a market cap of $10.01 billion, a price-to-earnings ratio of 759.99, a PEG ratio of 2.83 and a beta of 0.53.

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

Insider Activity at Penumbra

In other news, Director Bridget O’rourke sold 100 shares of the business’s stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $286.15, for a total value of $28,615.00. Following the transaction, the director now directly owns 5,423 shares of the company’s stock, valued at $1,551,791.45. The trade was a 1.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Adam Elsesser sold 16,650 shares of the business’s stock in a transaction dated Wednesday, May 7th. The shares were 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 in the company, valued at $21,771,330.69. This represents a 18.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 128,845 shares of company stock valued at $36,359,981 in the last 90 days. 4.20% of the stock is owned by corporate insiders.

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.