Envestnet Asset Management Inc. Buys 358 Shares of Penumbra, Inc. (NYSE:PEN)

Envestnet Asset Management Inc. grew its holdings in shares of Penumbra, Inc. (NYSE:PEN) by 6.8% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 5,626 shares of the company’s stock after purchasing an additional 358 shares during the period. Envestnet Asset Management Inc.’s holdings in Penumbra were worth $1,542,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. IndexIQ Advisors LLC acquired a new position in Penumbra in the 1st quarter valued at about $29,000. Cutler Group LP grew its holdings in Penumbra by 108.0% in the second quarter. Cutler Group LP now owns 251 shares of the company’s stock worth $68,000 after purchasing an additional 3,400 shares during the period. Panagora Asset Management Inc. bought a new position in shares of Penumbra in the first quarter valued at $114,000. QS Investors LLC bought a new position in shares of Penumbra during the first quarter valued at about $202,000. Finally, Tobam bought a new stake in Penumbra in the first quarter worth about $216,000. Institutional investors own 80.61% of the company’s stock.

NYSE:PEN opened at $277.68 on Tuesday. The company has a quick ratio of 3.68, a current ratio of 6.04 and a debt-to-equity ratio of 0.04. The company has a fifty day moving average of $267.24 and a 200 day moving average of $270.58. The firm has a market capitalization of $10.16 billion, a P/E ratio of 645.77, a P/E/G ratio of 13.67 and a beta of 0.28. Penumbra, Inc. has a 52 week low of $163.49 and a 52 week high of $320.00.

Penumbra (NYSE:PEN) last posted its earnings results on Monday, August 9th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.02. Penumbra had a net margin of 2.37% and a return on equity of 5.52%. The business had revenue of $184.26 million for the quarter, compared to analysts’ expectations of $170.77 million. During the same quarter in the prior year, the business earned ($0.30) EPS. The business’s revenue for the quarter was up 75.3% compared to the same quarter last year. As a group, analysts anticipate that Penumbra, Inc. will post 0.87 EPS for the current year.

A number of equities research analysts have recently weighed in on the stock. Truist Securities assumed coverage on shares of Penumbra in a report on Thursday, September 16th. They issued a “buy” rating and a $350.00 price objective for the company. Citigroup increased their price objective on shares of Penumbra from $335.00 to $340.00 and gave the company a “buy” rating in a report on Tuesday, August 10th. Wells Fargo & Company reiterated a “buy” rating on shares of Penumbra in a research note on Tuesday, June 8th. Truist began coverage on Penumbra in a report on Wednesday, September 15th. They issued a “buy” rating and a $350.00 price target for the company. Finally, BTIG Research increased their price target on Penumbra from $299.00 to $308.00 and gave the stock a “buy” rating in a report on Tuesday, August 10th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Penumbra has a consensus rating of “Buy” and an average target price of $324.22.

In related news, Director Thomas Wilder sold 161 shares of Penumbra stock in a transaction on Monday, July 12th. The stock was sold at an average price of $275.09, for a total transaction of $44,289.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Adam Elsesser sold 14,500 shares of the business’s stock in a transaction on Monday, September 13th. The stock was sold at an average price of $280.42, for a total value of $4,066,090.00. The disclosure for this sale can be found here. Insiders sold 45,023 shares of company stock worth $11,986,518 in the last quarter. 7.50% of the stock is owned by insiders.

About Penumbra

Penumbra, Inc engages in the design, development, manufacture, and marketing of innovative medical devices. It offers thrombectomy, embolization, access, neurosurgical tools, ruby coil system, lantern, penumbra occlusion device (POD) system, packing coil, and indigo systems products. Its target markets include interventional neuroradiologists, neurosurgeons, and interventional neurologists; and interventional radiologists, vascular surgeons, and interventional cardiologists.

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Institutional Ownership by Quarter for Penumbra (NYSE:PEN)

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