Envestnet Portfolio Solutions Inc. Buys 101 Shares of Penumbra, Inc. (NYSE:PEN)

Envestnet Portfolio Solutions Inc. boosted its stake in Penumbra, Inc. (NYSE:PEN) by 3.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,867 shares of the company’s stock after purchasing an additional 101 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Penumbra were worth $681,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in PEN. Advisors Asset Management Inc. increased its stake in shares of Penumbra by 11.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 416 shares of the company’s stock valued at $81,000 after acquiring an additional 43 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new stake in Penumbra in the third quarter valued at approximately $31,965,000. Charles Schwab Investment Management Inc. raised its holdings in Penumbra by 1.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 267,767 shares of the company’s stock worth $52,030,000 after purchasing an additional 4,848 shares during the period. Cerity Partners LLC boosted its position in shares of Penumbra by 19.2% during the third quarter. Cerity Partners LLC now owns 3,612 shares of the company’s stock worth $702,000 after purchasing an additional 583 shares in the last quarter. Finally, Loomis Sayles & Co. L P grew its holdings in shares of Penumbra by 13.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 112,383 shares of the company’s stock valued at $21,837,000 after buying an additional 13,534 shares during the period. Institutional investors and hedge funds own 88.88% of the company’s stock.

Insider Activity at Penumbra

In other Penumbra news, Director Harpreet Grewal sold 167 shares of the firm’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $241.28, for a total transaction of $40,293.76. Following the completion of the sale, the director now owns 8,530 shares of the company’s stock, valued at $2,058,118.40. This trade represents a 1.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Maggie Yuen sold 2,000 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $286.00, for a total transaction of $572,000.00. Following the completion of the transaction, the chief financial officer now owns 15,243 shares in the company, valued at approximately $4,359,498. This represents a 11.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 81,518 shares of company stock worth $22,994,979. Insiders own 5.00% of the company’s stock.

Penumbra Stock Up 2.0 %

NYSE:PEN opened at $286.09 on Tuesday. The firm has a market capitalization of $11.02 billion, a price-to-earnings ratio of 841.45, a price-to-earnings-growth ratio of 2.83 and a beta of 0.51. The company has a quick ratio of 3.25, a current ratio of 6.01 and a debt-to-equity ratio of 0.02. Penumbra, Inc. has a twelve month low of $148.00 and a twelve month high of $310.00. The stock’s 50 day moving average price is $273.48 and its two-hundred day moving average price is $241.14.

Penumbra (NYSE:PEN) last posted its quarterly earnings results on Tuesday, February 18th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.09. The firm had revenue of $315.52 million for the quarter, compared to analyst estimates of $311.63 million. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. Equities research analysts expect that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on PEN. StockNews.com lowered Penumbra from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Robert W. Baird boosted their price objective on Penumbra from $305.00 to $328.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Morgan Stanley lifted their price target on shares of Penumbra from $240.00 to $260.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 19th. Citigroup increased their price objective on shares of Penumbra from $220.00 to $245.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 11th. Finally, BTIG Research boosted their price objective on shares of Penumbra from $232.00 to $270.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $294.47.

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.