Charles Schwab Investment Management Inc. Grows Holdings in Penumbra, Inc. (NYSE:PEN)

Charles Schwab Investment Management Inc. grew its position in Penumbra, Inc. (NYSE:PEN - Free Report) by 4.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 283,821 shares of the company's stock after acquiring an additional 12,247 shares during the period. Charles Schwab Investment Management Inc. owned about 0.73% of Penumbra worth $75,897,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Envestnet Asset Management Inc. lifted its stake in shares of Penumbra by 3.5% during the 4th quarter. Envestnet Asset Management Inc. now owns 60,485 shares of the company's stock worth $14,364,000 after buying an additional 2,033 shares during the last quarter. Cerity Partners LLC raised its position in shares of Penumbra by 66.1% in the 4th quarter. Cerity Partners LLC now owns 5,999 shares of the company's stock valued at $1,400,000 after buying an additional 2,387 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Penumbra during the 4th quarter valued at approximately $5,976,000. Treasurer of the State of North Carolina grew its holdings in Penumbra by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 16,213 shares of the company's stock worth $3,850,000 after acquiring an additional 100 shares during the last quarter. Finally, Barclays PLC grew its holdings in Penumbra by 65.3% during the 4th quarter. Barclays PLC now owns 29,796 shares of the company's stock worth $7,076,000 after acquiring an additional 11,771 shares during the last quarter. Institutional investors own 88.88% of the company's stock.

Insider Activity at Penumbra

In other news, Director Arani Bose sold 12,000 shares of the company's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $250.65, for a total value of $3,007,800.00. Following the sale, the director directly owned 558 shares of the company's stock, valued at $139,862.70. This represents a 95.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Johanna Roberts sold 600 shares of the company's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $258.17, for a total transaction of $154,902.00. Following the completion of the transaction, the executive vice president owned 64,714 shares in the company, valued at approximately $16,707,213.38. The trade was a 0.92% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 112,487 shares of company stock valued at $27,969,587 in the last 90 days. 4.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

PEN has been the topic of a number of analyst reports. Wells Fargo & Company reduced their price objective on shares of Penumbra from $315.00 to $290.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 30th. William Blair upgraded shares of Penumbra to a "strong-buy" rating in a report on Friday, July 18th. Wall Street Zen downgraded shares of Penumbra from a "strong-buy" rating to a "hold" rating in a report on Saturday, August 2nd. Stifel Nicolaus set a $318.00 target price on shares of Penumbra and gave the company a "buy" rating in a report on Thursday, April 24th. Finally, Morgan Stanley raised their price objective on shares of Penumbra from $260.00 to $266.00 and gave the stock an "equal weight" rating in a report on Thursday, July 31st. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $300.47.

Penumbra Price Performance

PEN traded down $0.22 on Friday, reaching $252.99. The company had a trading volume of 304,724 shares, compared to its average volume of 513,287. The company has a market cap of $9.87 billion, a price-to-earnings ratio of 67.28, a P/E/G ratio of 2.28 and a beta of 0.40. Penumbra, Inc. has a 52-week low of $184.80 and a 52-week high of $310.00. The business has a 50 day simple moving average of $246.04 and a 200 day simple moving average of $265.62. 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 - Get Free Report) last issued its earnings results on Tuesday, July 29th. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.81 by $0.05. The company had revenue of $339.46 million for 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 period in the previous year, the firm earned $0.64 earnings per share. As a group, sell-side analysts anticipate that Penumbra, Inc. will post 3.67 EPS for the current year.

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.