Penumbra, Inc. $PEN Shares Purchased by E. Ohman J or Asset Management AB

E. Ohman J or Asset Management AB raised its holdings in Penumbra, Inc. (NYSE:PEN) by 10.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,312 shares of the company’s stock after purchasing an additional 1,700 shares during the quarter. E. Ohman J or Asset Management AB’s holdings in Penumbra were worth $4,699,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the business. Fifth Third Bancorp lifted its holdings in Penumbra by 16.4% in the first quarter. Fifth Third Bancorp now owns 404 shares of the company’s stock valued at $108,000 after acquiring an additional 57 shares during the period. First Horizon Advisors Inc. increased its holdings in shares of Penumbra by 404.8% in the 1st quarter. First Horizon Advisors Inc. now owns 106 shares of the company’s stock valued at $28,000 after purchasing an additional 85 shares in the last quarter. Synergy Investment Management LLC acquired a new stake in shares of Penumbra in the first quarter valued at about $27,000. State of Michigan Retirement System lifted its stake in shares of Penumbra by 1.1% in the first quarter. State of Michigan Retirement System now owns 9,214 shares of the company’s stock valued at $2,464,000 after purchasing an additional 100 shares during the period. Finally, Louisiana State Employees Retirement System boosted its holdings in Penumbra by 0.9% during the first quarter. Louisiana State Employees Retirement System now owns 10,800 shares of the company’s stock worth $2,888,000 after buying an additional 100 shares in the last quarter. 88.88% of the stock is owned by hedge funds and other institutional investors.

Penumbra Stock Down 1.0%

Shares of NYSE:PEN opened at $273.54 on Monday. The company has a quick ratio of 4.04, a current ratio of 6.75 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $10.67 billion, a P/E ratio of 72.75, a P/E/G ratio of 2.46 and a beta of 0.45. Penumbra, Inc. has a 52-week low of $184.80 and a 52-week high of $310.00. The stock’s fifty day simple moving average is $252.08 and its 200-day simple moving average is $264.82.

Penumbra (NYSE:PEN) last announced its earnings results on Tuesday, July 29th. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.05. The firm had revenue of $339.46 million during the quarter, compared to the consensus estimate of $327.37 million. Penumbra had a net margin of 11.54% and a return on equity of 11.55%. The firm’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.64 EPS. Penumbra has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Arani Bose sold 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $250.65, for a total transaction of $3,007,800.00. Following the sale, the director owned 558 shares in the company, valued at approximately $139,862.70. This trade represents a 95.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $252.70, for a total transaction of $151,620.00. Following the completion of the sale, the executive vice president directly owned 66,057 shares of the company’s stock, valued at $16,692,603.90. The trade was a 0.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 112,113 shares of company stock worth $27,919,346. 4.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

PEN has been the subject of a number of research analyst reports. William Blair raised shares of Penumbra to a “strong-buy” rating in a report on Friday, July 18th. Wall Street Zen raised Penumbra from a “hold” rating to a “buy” rating in a research note on Saturday, August 30th. UBS Group set a $335.00 target price on Penumbra and gave the stock a “buy” rating in a research report on Wednesday, July 30th. Citigroup dropped their price target on Penumbra from $320.00 to $285.00 and set a “neutral” rating for the company in a research report on Wednesday, July 9th. Finally, Royal Bank Of Canada cut their price target on Penumbra from $330.00 to $325.00 and set an “outperform” rating for the company in a research note on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Penumbra currently has a consensus rating of “Moderate Buy” and an average target price of $302.93.

Penumbra 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.