Illinois Municipal Retirement Fund Increases Holdings in Penumbra, Inc. $PEN

Illinois Municipal Retirement Fund increased its position in shares of Penumbra, Inc. (NYSE:PEN) by 18.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,030 shares of the company’s stock after purchasing an additional 1,749 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Penumbra were worth $2,794,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of PEN. Thrivent Financial for Lutherans increased its holdings in shares of Penumbra by 13.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 367,062 shares of the company’s stock valued at $92,984,000 after purchasing an additional 44,185 shares in the last quarter. Machina Capital S.A.S. acquired a new stake in Penumbra during the second quarter valued at $369,000. New York State Common Retirement Fund increased its holdings in Penumbra by 8.7% in the third quarter. New York State Common Retirement Fund now owns 82,849 shares of the company’s stock valued at $20,987,000 after buying an additional 6,642 shares in the last quarter. First Trust Advisors LP increased its holdings in Penumbra by 4.0% in the second quarter. First Trust Advisors LP now owns 100,723 shares of the company’s stock valued at $25,849,000 after buying an additional 3,906 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its position in shares of Penumbra by 22.9% in the second quarter. Russell Investments Group Ltd. now owns 26,604 shares of the company’s stock worth $6,827,000 after acquiring an additional 4,960 shares during the period. Institutional investors and hedge funds own 88.88% of the company’s stock.

Insider Transactions at Penumbra

In related news, Director Harpreet Grewal sold 186 shares of the company’s stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $312.64, for a total transaction of $58,151.04. Following the completion of the sale, the director owned 8,230 shares of the company’s stock, valued at approximately $2,573,027.20. This represents a 2.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas Wilder sold 186 shares of the stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $310.72, for a total transaction of $57,793.92. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 33,172 shares of company stock worth $10,015,279. Company insiders own 5.00% of the company’s stock.

Penumbra Price Performance

Shares of Penumbra stock opened at $339.56 on Monday. The stock has a market capitalization of $13.30 billion, a P/E ratio of 81.23, a PEG ratio of 2.09 and a beta of 0.81. The business has a 50 day simple moving average of $328.84 and a two-hundred day simple moving average of $285.61. Penumbra, Inc. has a 12 month low of $221.26 and a 12 month high of $362.41. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.73 and a quick ratio of 4.18.

Analysts Set New Price Targets

PEN has been the topic of a number of analyst reports. UBS Group cut Penumbra from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. Leerink Partners downgraded Penumbra from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. Weiss Ratings restated a “hold (c)” rating on shares of Penumbra in a research report on Monday, December 29th. Canaccord Genuity Group downgraded Penumbra from a “buy” rating to a “hold” rating and upped their target price for the stock from $359.00 to $374.00 in a research note on Tuesday, January 20th. Finally, Truist Financial lowered Penumbra from a “buy” rating to a “hold” rating and increased their target price for the company from $370.00 to $374.00 in a research report on Friday, January 16th. Four analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $358.00.

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.