Penumbra, Inc. $PEN Shares Purchased by New York State Common Retirement Fund

New York State Common Retirement Fund increased its position in shares of Penumbra, Inc. (NYSE:PEN) by 8.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 82,849 shares of the company’s stock after buying an additional 6,642 shares during the quarter. New York State Common Retirement Fund’s holdings in Penumbra were worth $20,987,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Penumbra by 5.0% in the second quarter. Vanguard Group Inc. now owns 3,860,655 shares of the company’s stock valued at $990,760,000 after acquiring an additional 185,306 shares during the period. Geode Capital Management LLC raised its position in Penumbra by 2.6% in the 2nd quarter. Geode Capital Management LLC now owns 706,404 shares of the company’s stock valued at $181,314,000 after purchasing an additional 17,772 shares during the last quarter. Invesco Ltd. boosted its stake in Penumbra by 1,139.3% during the 2nd quarter. Invesco Ltd. now owns 633,485 shares of the company’s stock worth $162,571,000 after purchasing an additional 582,369 shares during the period. Norges Bank purchased a new position in Penumbra during the 2nd quarter worth $114,014,000. Finally, Allspring Global Investments Holdings LLC grew its position in Penumbra by 13.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 365,097 shares of the company’s stock worth $91,139,000 after purchasing an additional 43,067 shares during the last quarter. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PEN. BTIG Research cut shares of Penumbra from a “buy” rating to a “neutral” rating and set a $349.00 target price for the company. in a report on Thursday, January 15th. Wall Street Zen cut Penumbra from a “buy” rating to a “hold” rating in a research report on Saturday, January 17th. Citigroup downgraded Penumbra from a “buy” rating to a “neutral” rating and upped their price objective for the company from $350.00 to $374.00 in a research note on Thursday, January 15th. Truist Financial downgraded Penumbra from a “buy” rating to a “hold” rating and lifted their target price for the company from $370.00 to $374.00 in a research note on Friday, January 16th. Finally, Wells Fargo & Company reissued an “equal weight” rating and issued a $374.00 target price on shares of Penumbra in a report on Thursday, January 15th. Four research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. Based on data from MarketBeat, Penumbra currently has a consensus rating of “Hold” and an average target price of $358.00.

Penumbra Stock Performance

NYSE PEN opened at $358.27 on Friday. The company has a current ratio of 6.73, a quick ratio of 4.18 and a debt-to-equity ratio of 0.02. The business’s 50 day moving average is $319.08 and its two-hundred day moving average is $277.55. Penumbra, Inc. has a 12-month low of $221.26 and a 12-month high of $362.41. The stock has a market capitalization of $14.03 billion, a price-to-earnings ratio of 85.71, a PEG ratio of 2.20 and a beta of 0.71.

Penumbra (NYSE:PEN) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.90 by $0.07. Penumbra had a return on equity of 11.35% and a net margin of 12.30%.The business had revenue of $354.69 million during the quarter, compared to analysts’ expectations of $340.77 million. During the same period last year, the firm earned $0.85 EPS. The company’s quarterly revenue was up 17.8% compared to the same quarter last year. Research analysts expect that Penumbra, Inc. will post 3.67 EPS for the current year.

Insiders Place Their Bets

In other Penumbra news, Director Harpreet Grewal sold 186 shares of the business’s stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $312.64, for a total transaction of $58,151.04. Following the sale, the director directly owned 8,230 shares in the company, valued at approximately $2,573,027.20. The trade was a 2.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas Wilder sold 186 shares of the company’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $310.72, for a total transaction of $57,793.92. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 34,144 shares of company stock worth $10,260,127 in the last ninety days. 4.20% of the stock is owned by insiders.

About Penumbra

Penumbra, Inc is a global healthcare company specializing in the development and manufacture of innovative medical devices that address neurovascular and peripheral vascular conditions. The company focuses on products designed to improve patient outcomes in acute ischemic stroke, aneurysm treatment and peripheral thrombectomy. Penumbra’s technologies are used by interventional neuroradiologists, neurosurgeons and interventional cardiologists in hospitals and clinics around the world.

At the core of Penumbra’s portfolio is its mechanical thrombectomy platform, which includes aspiration catheters and accessory devices engineered to remove blood clots in acute stroke cases.