Commonwealth of Pennsylvania Public School Empls Retrmt SYS Decreases Stock Holdings in Penumbra, Inc. (NYSE:PEN)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS cut its stake in Penumbra, Inc. (NYSE:PEN) by 1.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,476 shares of the company’s stock after selling 87 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Penumbra were worth $2,013,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Pallas Capital Advisors LLC grew its holdings in Penumbra by 3.8% in the 4th quarter. Pallas Capital Advisors LLC now owns 1,108 shares of the company’s stock valued at $263,000 after buying an additional 41 shares in the last quarter. Advisors Asset Management Inc. boosted its position in shares of 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 last quarter. Pacer Advisors Inc. grew its holdings in shares of Penumbra by 1.0% in the fourth quarter. Pacer Advisors Inc. now owns 5,721 shares of the company’s stock valued at $1,359,000 after purchasing an additional 57 shares during the period. CIBC Asset Management Inc increased its position in Penumbra by 5.4% during the fourth quarter. CIBC Asset Management Inc now owns 1,183 shares of the company’s stock worth $281,000 after purchasing an additional 61 shares during the last quarter. Finally, Corient Private Wealth LLC raised its stake in Penumbra by 3.7% during the fourth quarter. Corient Private Wealth LLC now owns 1,695 shares of the company’s stock worth $403,000 after purchasing an additional 61 shares during the period. Institutional investors and hedge funds own 88.88% of the company’s stock.

Penumbra Price Performance

PEN stock opened at $286.09 on Tuesday. The business’s 50-day moving average is $273.48 and its two-hundred day moving average is $241.14. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.01 and a quick ratio of 3.25. The firm has a market capitalization of $11.02 billion, a P/E ratio of 841.45, a P/E/G ratio of 2.83 and a beta of 0.51. Penumbra, Inc. has a 1 year low of $148.00 and a 1 year high of $310.00.

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

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. StockNews.com downgraded Penumbra from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Bank of America started coverage on shares of Penumbra in a report on Friday, March 14th. They issued a “buy” rating and a $320.00 price objective on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $330.00 target price (up previously from $250.00) on shares of Penumbra in a research note on Wednesday, February 19th. JPMorgan Chase & Co. boosted their price target on shares of Penumbra from $230.00 to $285.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Finally, Morgan Stanley increased their price objective on shares of Penumbra from $240.00 to $260.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 19th. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Penumbra presently has a consensus rating of “Moderate Buy” and an average price target of $294.47.

Insider Buying and Selling

In other Penumbra news, Director Harpreet Grewal sold 167 shares of Penumbra stock in a transaction dated 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 directly owns 8,530 shares of the company’s stock, valued at $2,058,118.40. The trade was a 1.92 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Adam Elsesser sold 16,600 shares of the firm’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $276.21, for a total value of $4,585,086.00. Following the sale, the chief executive officer now directly owns 27,752 shares in the company, valued at $7,665,379.92. This trade represents a 37.43 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 81,518 shares of company stock worth $22,994,979. Corporate insiders own 5.00% of the company’s stock.

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.