Charles Schwab Investment Management Inc. Boosts Stake in Penumbra, Inc. (NYSE:PEN)

Charles Schwab Investment Management Inc. lifted its holdings in Penumbra, Inc. (NYSE:PEN - Free Report) by 4.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 250,101 shares of the company's stock after acquiring an additional 10,998 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.65% of Penumbra worth $62,910,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Penumbra by 171.8% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 106 shares of the company's stock worth $27,000 after purchasing an additional 67 shares in the last quarter. RiverPark Advisors LLC acquired a new stake in Penumbra during the third quarter worth about $42,000. Signaturefd LLC increased its holdings in Penumbra by 27.2% in the 4th quarter. Signaturefd LLC now owns 215 shares of the company's stock valued at $54,000 after buying an additional 46 shares during the period. Covestor Ltd raised its position in shares of Penumbra by 357.9% in the 3rd quarter. Covestor Ltd now owns 348 shares of the company's stock valued at $84,000 after buying an additional 272 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of Penumbra by 496.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 358 shares of the company's stock worth $90,000 after acquiring an additional 298 shares during the period. 88.88% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PEN has been the subject of several research analyst reports. Royal Bank of Canada restated an "outperform" rating and set a $289.00 price objective on shares of Penumbra in a research report on Friday, February 23rd. JPMorgan Chase & Co. lowered Penumbra from an "overweight" rating to a "neutral" rating and reduced their price objective for the company from $284.00 to $250.00 in a research note on Friday, February 23rd. Canaccord Genuity Group decreased their target price on Penumbra from $284.00 to $272.00 and set a "buy" rating on the stock in a research report on Wednesday, May 8th. Truist Financial dropped their target price on shares of Penumbra from $290.00 to $280.00 and set a "buy" rating for the company in a report on Friday, March 22nd. Finally, Piper Sandler lowered their price objective on shares of Penumbra from $290.00 to $260.00 and set an "overweight" rating for the company in a research report on Wednesday, May 8th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $300.64.

Penumbra Stock Down 1.5 %

NYSE:PEN traded down $3.17 during trading hours on Thursday, reaching $201.53. The company had a trading volume of 273,269 shares, compared to its average volume of 348,566. The business's 50-day simple moving average is $217.34 and its two-hundred day simple moving average is $232.11. Penumbra, Inc. has a twelve month low of $180.93 and a twelve month high of $348.67. The firm has a market cap of $7.81 billion, a price-to-earnings ratio of 86.39, a P/E/G ratio of 2.08 and a beta of 0.57. The company has a quick ratio of 3.51, a current ratio of 6.12 and a debt-to-equity ratio of 0.02.

Penumbra (NYSE:PEN - Get Free Report) last issued its earnings results on Tuesday, May 7th. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.01). The firm had revenue of $278.70 million during the quarter, compared to analyst estimates of $274.94 million. Penumbra had a net margin of 8.52% and a return on equity of 7.83%. The business's quarterly revenue was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.23 earnings per share. On average, equities analysts expect that Penumbra, Inc. will post 2.87 earnings per share for the current year.

Insider Transactions at Penumbra

In other news, EVP Johanna Roberts sold 600 shares of the business's stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $207.41, for a total transaction of $124,446.00. Following the completion of the sale, the executive vice president now directly owns 63,488 shares of the company's stock, valued at $13,168,046.08. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Penumbra news, Director Arani Bose sold 7,500 shares of the company's stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $250.20, for a total value of $1,876,500.00. Following the completion of the sale, the director now directly owns 164,294 shares of the company's stock, valued at approximately $41,106,358.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Johanna Roberts sold 600 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $207.41, for a total transaction of $124,446.00. Following the completion of the sale, the executive vice president now owns 63,488 shares of the company's stock, valued at approximately $13,168,046.08. The disclosure for this sale can be found here. Insiders have sold 10,248 shares of company stock valued at $2,494,349 over the last ninety days. 5.00% of the stock is owned by company insiders.

Penumbra Company 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.