Envestnet Asset Management Inc. Has $10 Million Position in Penumbra, Inc. $PEN

Envestnet Asset Management Inc. trimmed its position in shares of Penumbra, Inc. (NYSE:PEN) by 19.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 39,477 shares of the company’s stock after selling 9,249 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.10% of Penumbra worth $10,000,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in PEN. Cornerstone Planning Group LLC bought a new position in Penumbra in the 3rd quarter valued at approximately $229,000. AGF Management Ltd. bought a new stake in Penumbra during the 3rd quarter worth approximately $3,144,000. Thrivent Financial for Lutherans increased its position in Penumbra by 13.7% in the 3rd quarter. Thrivent Financial for Lutherans now owns 367,062 shares of the company’s stock valued at $92,984,000 after acquiring an additional 44,185 shares during the period. Keybank National Association OH raised its stake in shares of Penumbra by 38.1% during the third quarter. Keybank National Association OH now owns 3,662 shares of the company’s stock valued at $928,000 after acquiring an additional 1,011 shares during the last quarter. Finally, AlphaQuest LLC lifted its holdings in shares of Penumbra by 30.4% during the third quarter. AlphaQuest LLC now owns 1,093 shares of the company’s stock worth $277,000 after purchasing an additional 255 shares during the period. 88.88% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Penumbra

In related news, Director Harpreet Grewal sold 186 shares of the firm’s stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $312.64, for a total transaction of $58,151.04. Following the transaction, the director directly owned 8,230 shares in the company, valued at $2,573,027.20. This trade represents a 2.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Arani Bose sold 15,000 shares of the firm’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $308.82, for a total transaction of $4,632,300.00. Following the completion of the sale, the director directly owned 258,462 shares in the company, valued at approximately $79,818,234.84. This trade represents a 5.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 33,172 shares of company stock worth $10,015,279 in the last 90 days. 4.20% of the stock is owned by company insiders.

Penumbra Trading Up 0.0%

NYSE:PEN opened at $341.13 on Thursday. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.73 and a quick ratio of 4.18. The company has a market cap of $13.36 billion, a P/E ratio of 81.61, a P/E/G ratio of 2.10 and a beta of 0.82. Penumbra, Inc. has a 1 year low of $221.26 and a 1 year high of $362.41. The stock’s fifty day moving average price is $331.58 and its two-hundred day moving average price is $287.29.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PEN. Piper Sandler downgraded shares of Penumbra from an “overweight” rating to a “hold” rating and set a $374.00 target price for the company. in a research report on Thursday, January 15th. Wall Street Zen downgraded shares of Penumbra from a “buy” rating to a “hold” rating in a research report on Saturday, January 17th. Robert W. Baird restated a “neutral” rating and issued a $374.00 target price (up previously from $345.00) on shares of Penumbra in a report on Friday, January 16th. BTIG Research downgraded shares of Penumbra from a “buy” rating to a “neutral” rating and set a $349.00 price objective for the company. in a research report on Thursday, January 15th. Finally, Needham & Company LLC cut shares of Penumbra from a “buy” rating to a “hold” rating in a research report on Friday, January 16th. Four equities research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $358.00.

Penumbra Company Profile

Penumbra, Inc is a global healthcare company specializing in the development and manufacture of innovative medical devices that address neurovascular and peripheral vascular conditions. The company focuses on products designed to improve patient outcomes in acute ischemic stroke, aneurysm treatment and peripheral thrombectomy. Penumbra’s technologies are used by interventional neuroradiologists, neurosurgeons and interventional cardiologists in hospitals and clinics around the world.

At the core of Penumbra’s portfolio is its mechanical thrombectomy platform, which includes aspiration catheters and accessory devices engineered to remove blood clots in acute stroke cases.