American Century Companies Inc. Has $18.64 Million Holdings in Penumbra, Inc. $PEN

American Century Companies Inc. grew its holdings in Penumbra, Inc. (NYSE:PEN) by 202.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 72,651 shares of the company’s stock after purchasing an additional 48,614 shares during the period. American Century Companies Inc. owned about 0.19% of Penumbra worth $18,644,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in Penumbra by 5.0% during the second quarter. Vanguard Group Inc. now owns 3,860,655 shares of the company’s stock valued at $990,760,000 after buying an additional 185,306 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Penumbra by 2.6% during the 2nd quarter. Geode Capital Management LLC now owns 706,404 shares of the company’s stock valued at $181,314,000 after acquiring an additional 17,772 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Penumbra by 437.0% in the 1st quarter. JPMorgan Chase & Co. now owns 703,634 shares of the company’s stock valued at $188,159,000 after acquiring an additional 572,606 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Penumbra by 0.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 322,030 shares of the company’s stock worth $80,726,000 after purchasing an additional 984 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Penumbra by 4.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 283,821 shares of the company’s stock worth $75,897,000 after purchasing an additional 12,247 shares during the period. 88.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PEN has been the subject of a number of analyst reports. Needham & Company LLC restated a “buy” rating and issued a $326.00 price objective on shares of Penumbra in a research note on Monday, October 27th. JPMorgan Chase & Co. boosted their target price on shares of Penumbra from $265.00 to $275.00 and gave the stock a “neutral” rating in a research report on Thursday, November 6th. BTIG Research reaffirmed a “buy” rating and issued a $320.00 price target on shares of Penumbra in a research report on Monday, October 27th. Wells Fargo & Company began coverage on Penumbra in a research report on Tuesday, November 18th. They set an “underweight” rating for the company. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Penumbra in a research note on Tuesday, November 25th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $305.69.

Insider Activity

In other news, Director Thomas Wilder sold 186 shares of Penumbra stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $253.93, for a total value of $47,230.98. Following the completion of the transaction, the director owned 186 shares in the company, valued at approximately $47,230.98. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Arani Bose sold 7,500 shares of the business’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $300.19, for a total value of $2,251,425.00. Following the completion of the transaction, the director directly owned 275,261 shares in the company, valued at approximately $82,630,599.59. This represents a 2.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 18,744 shares of company stock worth $5,458,873 over the last 90 days. 5.00% of the stock is currently owned by company insiders.

Penumbra Price Performance

Shares of Penumbra stock opened at $287.75 on Wednesday. The firm has a market cap of $11.27 billion, a P/E ratio of 76.53, a price-to-earnings-growth ratio of 2.10 and a beta of 0.66. The firm’s 50-day simple moving average is $261.66 and its 200-day simple moving average is $257.58. Penumbra, Inc. has a twelve month low of $221.26 and a twelve month high of $310.00. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.04 and a current ratio of 6.75.

Penumbra (NYSE:PEN) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.07. Penumbra had a net margin of 11.54% and a return on equity of 11.55%. The firm had revenue of $354.69 million during the quarter, compared to analysts’ expectations of $340.77 million. During the same quarter last year, the company earned $0.85 earnings per share. The company’s revenue for the quarter was up 17.8% compared to the same quarter last year. As a group, research analysts expect that Penumbra, Inc. will post 3.67 EPS for the current fiscal year.

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.