7,055 Shares in Penumbra Inc. (PEN) Acquired by State Board of Administration of Florida Retirement System
State Board of Administration of Florida Retirement System bought a new stake in Penumbra Inc. (NYSE:PEN) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,055 shares of the company’s stock, valued at approximately $420,000.
A number of other hedge funds also recently added to or reduced their stakes in the company. Quantbot Technologies LP acquired a new position in shares of Penumbra during the second quarter worth $151,000. Bellevue Group AG acquired a new position in shares of Penumbra during the first quarter worth $368,000. Menta Capital LLC acquired a new position in shares of Penumbra during the first quarter worth $460,000. Strs Ohio increased its position in shares of Penumbra by 466.7% in the second quarter. Strs Ohio now owns 8,500 shares of the company’s stock worth $505,000 after buying an additional 7,000 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of Penumbra by 5.7% in the first quarter. JPMorgan Chase & Co. now owns 21,052 shares of the company’s stock worth $968,000 after buying an additional 1,127 shares during the period. Institutional investors and hedge funds own 51.96% of the company’s stock.
Penumbra Inc. (NYSE:PEN) traded up 2.34% during trading on Monday, hitting $74.89. The stock had a trading volume of 48,112 shares. Penumbra Inc. has a 1-year low of $35.31 and a 1-year high of $79.49. The firm has a 50 day moving average price of $73.26 and a 200-day moving average price of $61.06. The firm has a market capitalization of $2.33 billion and a PE ratio of 972.60.
Penumbra (NYSE:PEN) last announced its quarterly earnings results on Tuesday, August 9th. The company reported $0.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.07) by $0.08. Penumbra had a net margin of 1.54% and a return on equity of 1.48%. The business had revenue of $65.10 million for the quarter, compared to analysts’ expectations of $58.18 million. During the same quarter last year, the firm earned ($0.11) EPS. The firm’s revenue for the quarter was up 53.9% compared to the same quarter last year. On average, equities research analysts expect that Penumbra Inc. will post ($0.17) EPS for the current year.
PEN has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded Penumbra from a “buy” rating to a “hold” rating in a research report on Wednesday, July 27th. Canaccord Genuity set a $67.00 price target on Penumbra and gave the stock a “buy” rating in a research report on Wednesday, July 20th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Penumbra currently has an average rating of “Buy” and a consensus price target of $56.75.
In related news, CEO Adam Elsesser sold 29,000 shares of the firm’s stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $72.95, for a total value of $2,115,550.00. Following the transaction, the chief executive officer now owns 1,245,938 shares of the company’s stock, valued at approximately $90,891,177.10. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Robert D. Evans sold 5,300 shares of the firm’s stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $71.03, for a total transaction of $376,459.00. Following the completion of the transaction, the executive vice president now directly owns 2,538 shares in the company, valued at approximately $180,274.14. The disclosure for this sale can be found here. 22.00% of the stock is currently owned by corporate insiders.
Penumbra, Inc (Penumbra) is an interventional therapies company. The Company designs, develops, manufactures and markets medical devices. The Company has a portfolio of products that addresses medical conditions and significant clinical needs across two markets, neuro and peripheral vascular. The conditions that its products address include ischemic stroke, hemorrhagic stroke and various peripheral vascular conditions that can be treated through thrombectomy and embolization procedures.
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