BNP Paribas Financial Markets Buys 2,429 Shares of Penumbra, Inc. (NYSE:PEN)

BNP Paribas Financial Markets lifted its stake in Penumbra, Inc. (NYSE:PEN) by 59.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,523 shares of the company’s stock after buying an additional 2,429 shares during the quarter. BNP Paribas Financial Markets’ holdings in Penumbra were worth $1,549,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Quadrant Capital Group LLC raised its stake in shares of Penumbra by 6.6% in the fourth quarter. Quadrant Capital Group LLC now owns 632 shares of the company’s stock worth $150,000 after buying an additional 39 shares during the period. Pacer Advisors Inc. raised its stake in shares of Penumbra by 1.0% in the fourth 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 stake in shares of Penumbra by 5.4% in the fourth quarter. CIBC Asset Management Inc now owns 1,183 shares of the company’s stock worth $281,000 after buying an additional 61 shares during the period. Corient Private Wealth LLC grew its position in shares of Penumbra by 3.7% during the fourth quarter. Corient Private Wealth LLC now owns 1,695 shares of the company’s stock worth $403,000 after purchasing an additional 61 shares in the last quarter. Finally, UMB Bank n.a. grew its position in shares of Penumbra by 57.4% during the fourth quarter. UMB Bank n.a. now owns 192 shares of the company’s stock worth $46,000 after purchasing an additional 70 shares in the last quarter. Institutional investors own 88.88% of the company’s stock.

Insider Activity

In related news, EVP Johanna Roberts sold 600 shares of the business’s stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $300.01, for a total transaction of $180,006.00. Following the completion of the transaction, the executive vice president now owns 66,159 shares in the company, valued at $19,848,361.59. The trade was a 0.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Bridget O’rourke sold 100 shares of the business’s stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $286.15, for a total value of $28,615.00. Following the transaction, the director now owns 5,423 shares of the company’s stock, valued at approximately $1,551,791.45. The trade was a 1.81% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 176,696 shares of company stock valued at $50,207,745. 4.20% of the stock is currently owned by insiders.

Penumbra Stock Performance

NYSE PEN opened at $281.10 on Monday. The company has a market cap of $10.89 billion, a P/E ratio of 826.76, a P/E/G ratio of 2.83 and a beta of 0.53. 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 business’s 50 day moving average price is $279.37 and its 200-day moving average price is $263.96. Penumbra, Inc. has a fifty-two week low of $148.00 and a fifty-two week high of $310.00.

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

Analyst Ratings Changes

A number of research analysts recently commented on PEN shares. Morgan Stanley boosted their price target on Penumbra from $240.00 to $260.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 19th. StockNews.com raised Penumbra from a “hold” rating to a “buy” rating in a report on Thursday, April 24th. Piper Sandler reissued an “overweight” rating and issued a $330.00 price target (up from $250.00) on shares of Penumbra in a report on Wednesday, February 19th. Wells Fargo & Company boosted their price target on Penumbra from $305.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, April 24th. Finally, Royal Bank of Canada boosted their price target on Penumbra from $315.00 to $330.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $302.40.

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.