Charles Schwab Investment Management Inc. Has $52.03 Million Stock Holdings in Penumbra, Inc. (NYSE:PEN)

Charles Schwab Investment Management Inc. raised its stake in shares of Penumbra, Inc. (NYSE:PEN) by 1.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 267,767 shares of the company’s stock after purchasing an additional 4,848 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Penumbra were worth $52,030,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of PEN. Tidal Investments LLC boosted its stake in Penumbra by 276.9% in the 1st quarter. Tidal Investments LLC now owns 4,971 shares of the company’s stock valued at $1,109,000 after buying an additional 3,652 shares in the last quarter. First Hawaiian Bank acquired a new stake in shares of Penumbra in the 2nd quarter valued at $1,597,000. CWM LLC grew its holdings in shares of Penumbra by 215.7% in the 2nd quarter. CWM LLC now owns 1,550 shares of the company’s stock worth $279,000 after purchasing an additional 1,059 shares during the last quarter. Linden Thomas Advisory Services LLC increased its position in shares of Penumbra by 98.2% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 11,474 shares of the company’s stock worth $2,065,000 after purchasing an additional 5,686 shares in the last quarter. Finally, Canandaigua National Bank & Trust Co. bought a new position in Penumbra during the 2nd quarter valued at about $258,000. 88.88% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PEN. Canaccord Genuity Group upped their price objective on shares of Penumbra from $176.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Citigroup increased their price target on Penumbra from $178.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, August 22nd. Robert W. Baird lifted their price objective on Penumbra from $244.00 to $248.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Royal Bank of Canada increased their target price on Penumbra from $205.00 to $222.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Finally, Stifel Nicolaus initiated coverage on Penumbra in a report on Tuesday, September 17th. They issued a “buy” rating and a $238.00 price target for the company. Five research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $230.92.

Insider Buying and Selling

In other Penumbra news, Director Harpreet Grewal sold 166 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $190.83, for a total transaction of $31,677.78. Following the transaction, the director now owns 8,697 shares in the company, valued at approximately $1,659,648.51. This trade represents a 1.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Adam Elsesser sold 15,000 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $237.28, for a total value of $3,559,200.00. Following the completion of the sale, the chief executive officer now directly owns 852,582 shares of the company’s stock, valued at approximately $202,300,656.96. This trade represents a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 47,748 shares of company stock valued at $10,166,574 over the last three months. Company insiders own 5.00% of the company’s stock.

Penumbra Stock Performance

Penumbra stock opened at $244.12 on Friday. Penumbra, Inc. has a 1 year low of $148.00 and a 1 year high of $277.34. The company’s 50-day moving average is $216.76 and its two-hundred day moving average is $198.48. The company has a current ratio of 5.82, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02. The company has a market cap of $9.37 billion, a PE ratio of 283.86, a PEG ratio of 2.46 and a beta of 0.51.

Penumbra (NYSE:PEN) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.16. The firm had revenue of $301.04 million for the quarter, compared to analysts’ expectations of $297.36 million. Penumbra had a net margin of 2.97% and a return on equity of 8.99%. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period last year, the firm earned $0.67 earnings per share. Equities analysts anticipate that Penumbra, Inc. will post 2.81 earnings per share for the current year.

Penumbra announced that its board has approved a share buyback plan on Tuesday, August 13th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the company to buy up to 2.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

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.