Envestnet Asset Management Inc. Increases Stock Position in Penumbra, Inc. (NYSE:PEN)

Envestnet Asset Management Inc. boosted its position in Penumbra, Inc. (NYSE:PEN) by 1.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,499 shares of the company’s stock after buying an additional 1,014 shares during the period. Envestnet Asset Management Inc. owned approximately 0.16% of Penumbra worth $16,445,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PEN. First Horizon Advisors Inc. grew its holdings in Penumbra by 404.8% during the first quarter. First Horizon Advisors Inc. now owns 106 shares of the company’s stock worth $28,000 after acquiring an additional 85 shares during the period. Hurley Capital LLC acquired a new position in Penumbra during the fourth quarter worth $56,000. Huntington National Bank grew its holdings in Penumbra by 138.7% during the fourth quarter. Huntington National Bank now owns 265 shares of the company’s stock worth $63,000 after acquiring an additional 154 shares during the period. Versant Capital Management Inc grew its holdings in Penumbra by 893.5% during the first quarter. Versant Capital Management Inc now owns 308 shares of the company’s stock worth $82,000 after acquiring an additional 277 shares during the period. Finally, UMB Bank n.a. grew its holdings in Penumbra by 110.4% during the first quarter. UMB Bank n.a. now owns 404 shares of the company’s stock worth $108,000 after acquiring an additional 212 shares during the period. 88.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PEN has been the topic of several research reports. Robert W. Baird upped their target price on Penumbra from $316.00 to $325.00 and gave the company an “outperform” rating in a report on Thursday, April 24th. Royal Bank Of Canada increased their price objective on Penumbra from $315.00 to $330.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. Wells Fargo & Company increased their price objective on Penumbra from $305.00 to $315.00 and gave the company an “overweight” rating in a research note on Thursday, April 24th. Stifel Nicolaus set a $318.00 price objective on Penumbra and gave the company a “buy” rating in a research note on Thursday, April 24th. Finally, Wall Street Zen raised Penumbra from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 14th. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $305.07.

Penumbra Stock Performance

Shares of Penumbra stock opened at $230.22 on Friday. The stock’s fifty day simple moving average is $259.62 and its 200 day simple moving average is $268.02. Penumbra, Inc. has a 12 month low of $148.00 and a 12 month high of $310.00. The company has a market capitalization of $8.92 billion, a PE ratio of 217.19, a PEG ratio of 2.09 and a beta of 0.47. The company has a current ratio of 6.30, a quick ratio of 3.68 and a debt-to-equity ratio of 0.02.

Penumbra (NYSE:PEN) last released 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. 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 11.14% and a net margin of 3.41%. The company’s revenue for the quarter was up 16.3% on a year-over-year basis. During the same quarter last year, the business posted $0.41 EPS. On average, research analysts predict that Penumbra, Inc. will post 3.67 EPS for the current year.

Insider Activity at Penumbra

In related news, Director Bridget O’rourke sold 100 shares of the business’s stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $286.15, for a total value of $28,615.00. Following the completion of the sale, the director directly owned 5,423 shares in the company, valued at approximately $1,551,791.45. The trade was a 1.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, 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, July 1st. The shares were sold at an average price of $252.70, for a total transaction of $151,620.00. Following the transaction, the executive vice president owned 66,057 shares of the company’s stock, valued at approximately $16,692,603.90. This represents a 0.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 114,185 shares of company stock valued at $31,073,762. 4.20% of the stock is owned by insiders.

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.