Strs Ohio Cuts Stock Holdings in Penumbra, Inc. $PEN

Strs Ohio reduced its holdings in shares of Penumbra, Inc. (NYSE:PEN) by 33.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,794 shares of the company’s stock after selling 11,098 shares during the quarter. Strs Ohio owned approximately 0.06% of Penumbra worth $5,521,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Mather Group LLC. purchased a new stake in Penumbra during the third quarter worth about $25,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Penumbra in the 2nd quarter worth approximately $30,000. Parkside Financial Bank & Trust lifted its stake in Penumbra by 70.2% in the second quarter. Parkside Financial Bank & Trust now owns 160 shares of the company’s stock valued at $41,000 after purchasing an additional 66 shares during the last quarter. Covestor Ltd grew its holdings in Penumbra by 53.0% during the third quarter. Covestor Ltd now owns 179 shares of the company’s stock valued at $46,000 after purchasing an additional 62 shares during the period. Finally, State of Wyoming bought a new stake in Penumbra in the 2nd quarter valued at about $64,000. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on PEN shares. Wall Street Zen downgraded shares of Penumbra from a “buy” rating to a “hold” rating in a report on Saturday, January 17th. BTIG Research cut Penumbra from a “buy” rating to a “neutral” rating and set a $349.00 target price for the company. in a research report on Thursday, January 15th. Leerink Partners downgraded shares of Penumbra from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 16th. Weiss Ratings reissued a “hold (c)” rating on shares of Penumbra in a report on Monday, December 29th. Finally, Bank of America lifted their price objective on shares of Penumbra from $320.00 to $370.00 and gave the stock a “buy” rating in a report on Monday, January 5th. Four analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. According to MarketBeat.com, Penumbra has a consensus rating of “Hold” and a consensus target price of $358.00.

Insider Activity

In related news, Director Thomas Wilder sold 186 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $310.72, for a total transaction of $57,793.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Johanna Roberts sold 300 shares of Penumbra stock in a transaction on Friday, December 5th. The stock was sold at an average price of $300.13, for a total value of $90,039.00. Following the completion of the sale, the executive vice president directly owned 63,836 shares of the company’s stock, valued at approximately $19,159,098.68. The trade was a 0.47% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 34,144 shares of company stock valued at $10,260,127 in the last quarter. 5.00% of the stock is owned by company insiders.

Penumbra Stock Performance

Shares of PEN opened at $359.06 on Tuesday. The company has a quick ratio of 4.18, a current ratio of 6.73 and a debt-to-equity ratio of 0.02. The stock has a market cap of $14.06 billion, a P/E ratio of 85.90, a P/E/G ratio of 2.21 and a beta of 0.71. The business’s 50 day moving average price is $313.01 and its 200-day moving average price is $274.42. Penumbra, Inc. has a 52 week low of $221.26 and a 52 week high of $362.41.

Penumbra (NYSE:PEN) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 quarter in the previous year, the business earned $0.85 earnings per share. The firm’s quarterly revenue was up 17.8% compared to the same quarter last year. Equities research analysts anticipate that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal year.

Penumbra Profile

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.