Scholtz & Company LLC Raises Position in Penumbra, Inc. $PEN

Scholtz & Company LLC grew its stake in Penumbra, Inc. (NYSE:PEN) by 18.5% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 8,066 shares of the company’s stock after buying an additional 1,262 shares during the period. Scholtz & Company LLC’s holdings in Penumbra were worth $2,070,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of PEN. GAMMA Investing LLC increased its position in Penumbra by 59.0% in the first quarter. GAMMA Investing LLC now owns 709 shares of the company’s stock worth $190,000 after buying an additional 263 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Penumbra by 4.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 3,251 shares of the company’s stock worth $869,000 after buying an additional 136 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in Penumbra by 2.4% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 6,418 shares of the company’s stock worth $1,716,000 after buying an additional 148 shares in the last quarter. KBC Group NV increased its position in Penumbra by 10.9% in the first quarter. KBC Group NV now owns 1,603 shares of the company’s stock worth $429,000 after buying an additional 158 shares in the last quarter. Finally, New York State Teachers Retirement System raised its position in shares of Penumbra by 1.1% during the 1st quarter. New York State Teachers Retirement System now owns 38,054 shares of the company’s stock valued at $10,176,000 after purchasing an additional 400 shares during the period. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Insider Activity at Penumbra

In related news, Director Thomas Wilder sold 372 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $240.16, for a total transaction of $89,339.52. Following the completion of the transaction, the director directly owned 372 shares of the company’s stock, valued at approximately $89,339.52. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Maggie Yuen sold 2,000 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $250.00, for a total value of $500,000.00. Following the transaction, the chief financial officer directly owned 12,943 shares of the company’s stock, valued at approximately $3,235,750. The trade was a 13.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 64,460 shares of company stock valued at $16,322,614 in the last 90 days. 4.20% of the stock is currently owned by insiders.

Penumbra Stock Performance

Shares of NYSE PEN opened at $231.39 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.04 and a current ratio of 6.75. The company has a market cap of $9.02 billion, a P/E ratio of 61.54, a P/E/G ratio of 2.10 and a beta of 0.41. The firm’s fifty day moving average is $259.19 and its two-hundred day moving average is $260.01. Penumbra, Inc. has a 52-week low of $207.58 and a 52-week high of $310.00.

Penumbra (NYSE:PEN) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. Penumbra had a return on equity of 11.55% and a net margin of 11.54%.The company had revenue of $339.46 million during the quarter, compared to analyst estimates of $327.37 million. During the same period in the prior year, the company earned $0.64 earnings per share. The firm’s revenue was up 13.4% on a year-over-year basis. As a group, analysts anticipate that Penumbra, Inc. will post 3.67 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. BTIG Research restated a “buy” rating and set a $320.00 price objective on shares of Penumbra in a research report on Monday. Robert W. Baird raised their price objective on shares of Penumbra from $283.00 to $285.00 and gave the company an “outperform” rating in a research report on Wednesday, July 30th. William Blair upgraded shares of Penumbra to a “strong-buy” rating in a research report on Friday, July 18th. Needham & Company LLC restated a “buy” rating and set a $326.00 price objective on shares of Penumbra in a research report on Monday. Finally, Morgan Stanley raised their price objective on shares of Penumbra from $260.00 to $266.00 and gave the company an “equal weight” rating in a research report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Penumbra has a consensus rating of “Moderate Buy” and a consensus price target of $305.94.

About Penumbra

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.