Louisiana State Employees Retirement System Lowers Stock Holdings in Penumbra, Inc. (NYSE:PEN)

Louisiana State Employees Retirement System trimmed its position in shares of Penumbra, Inc. (NYSE:PEN) by 0.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,700 shares of the company’s stock after selling 100 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Penumbra were worth $2,541,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. True Wealth Design LLC purchased a new position in Penumbra during the 3rd quarter valued at about $26,000. GAMMA Investing LLC boosted its holdings in Penumbra by 111.1% during the 3rd quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock valued at $33,000 after acquiring an additional 90 shares during the period. UMB Bank n.a. boosted its holdings in Penumbra by 57.4% during the 4th quarter. UMB Bank n.a. now owns 192 shares of the company’s stock valued at $46,000 after acquiring an additional 70 shares during the period. Mather Group LLC. boosted its holdings in Penumbra by 208.0% during the 4th quarter. Mather Group LLC. now owns 308 shares of the company’s stock valued at $73,000 after acquiring an additional 208 shares during the period. Finally, Advisors Asset Management Inc. boosted its holdings in Penumbra by 11.5% during 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 period. 88.88% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Penumbra news, Director Harpreet Grewal sold 167 shares of Penumbra stock in a transaction that occurred 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 transaction, the director now owns 8,530 shares of the company’s stock, valued at $2,058,118.40. The trade was a 1.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Adam Elsesser sold 15,000 shares of Penumbra stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $237.28, for a total value of $3,559,200.00. Following the transaction, the chief executive officer now directly owns 852,582 shares in the company, valued at approximately $202,300,656.96. This trade represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,819 shares of company stock valued at $8,129,483 over the last quarter. Company insiders own 5.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PEN. Canaccord Genuity Group increased their price target on Penumbra from $260.00 to $323.00 and gave the company a “buy” rating in a research report on Monday, December 9th. UBS Group began coverage on Penumbra in a research report on Tuesday, January 21st. They issued a “buy” rating and a $305.00 price target on the stock. BTIG Research increased their price target on Penumbra from $232.00 to $270.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Citigroup increased their price target on Penumbra from $220.00 to $245.00 and gave the company a “neutral” rating in a research report on Wednesday, December 11th. Finally, Piper Sandler increased their price target on Penumbra from $235.00 to $250.00 and gave the company an “overweight” rating in a research report on Wednesday, November 20th. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Penumbra presently has an average rating of “Moderate Buy” and an average target price of $261.36.

Penumbra Trading Up 2.2 %

PEN opened at $272.96 on Friday. The firm has a market cap of $10.48 billion, a price-to-earnings ratio of 317.39, a price-to-earnings-growth ratio of 1.92 and a beta of 0.53. Penumbra, Inc. has a 52 week low of $148.00 and a 52 week high of $277.89. The business’s 50 day moving average is $253.82 and its two-hundred day moving average is $222.88. The company has a quick ratio of 3.25, a current ratio of 5.82 and a debt-to-equity ratio of 0.02.

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.