Public Employees Retirement Association of Colorado Raises Stock Position in Penumbra, Inc. (NYSE:PEN)

Public Employees Retirement Association of Colorado raised its holdings in shares of Penumbra, Inc. (NYSE:PEN) by 1,648.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 67,550 shares of the company’s stock after purchasing an additional 63,686 shares during the period. Public Employees Retirement Association of Colorado owned 0.18% of Penumbra worth $16,042,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. UMB Bank n.a. raised its stake in Penumbra by 57.4% in the 4th quarter. UMB Bank n.a. now owns 192 shares of the company’s stock worth $46,000 after acquiring an additional 70 shares during the last quarter. Hurley Capital LLC acquired a new stake in Penumbra during the fourth quarter worth about $56,000. Huntington National Bank boosted its position in Penumbra by 138.7% in the 4th quarter. Huntington National Bank now owns 265 shares of the company’s stock worth $63,000 after purchasing an additional 154 shares in the last quarter. Mather Group LLC. grew its stake in shares of Penumbra by 208.0% during the 4th quarter. Mather Group LLC. now owns 308 shares of the company’s stock worth $73,000 after purchasing an additional 208 shares during the period. Finally, Jones Financial Companies Lllp increased its holdings in shares of Penumbra by 25.0% during the 4th quarter. Jones Financial Companies Lllp now owns 375 shares of the company’s stock valued at $89,000 after purchasing an additional 75 shares in the last quarter. 88.88% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CAO Lambert Shiu sold 501 shares of the business’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $282.88, for a total value of $141,722.88. Following the completion of the transaction, the chief accounting officer now directly owns 32,969 shares of the company’s stock, valued at $9,326,270.72. The trade was a 1.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Thomas Wilder sold 360 shares of Penumbra stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $264.58, for a total transaction of $95,248.80. Following the sale, the director now owns 4,533 shares of the company’s stock, valued at approximately $1,199,341.14. This trade represents a 7.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 128,446 shares of company stock worth $35,959,193. 5.00% of the stock is owned by company insiders.

Penumbra Stock Up 0.8 %

Penumbra stock opened at $300.50 on Monday. The stock has a 50-day simple moving average of $276.99 and a 200-day simple moving average of $255.22. The company has a market capitalization of $11.64 billion, a P/E ratio of 883.82, a PEG ratio of 2.83 and a beta of 0.56. Penumbra, Inc. has a fifty-two week low of $148.00 and a fifty-two week high of $310.00. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.25 and a current ratio of 6.01.

Penumbra (NYSE:PEN) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.17. The firm had revenue of $324.14 million during the quarter, compared to the consensus estimate of $315.72 million. Penumbra had a return on equity of 9.74% and a net margin of 1.17%. Equities research analysts expect that Penumbra, Inc. will post 3.67 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PEN. BTIG Research reaffirmed a “buy” rating on shares of Penumbra in a report on Thursday. UBS Group reiterated a “buy” rating and issued a $330.00 target price (up previously from $320.00) on shares of Penumbra in a research report on Thursday. Wells Fargo & Company raised their price target on shares of Penumbra from $305.00 to $315.00 and gave the company an “overweight” rating in a research note on Thursday. Needham & Company LLC restated a “hold” rating on shares of Penumbra in a report on Wednesday, February 19th. Finally, Truist Financial increased their target price on shares of Penumbra from $315.00 to $330.00 and gave the company a “buy” rating in a research report on Thursday. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Penumbra has an average rating of “Moderate Buy” and an average target price of $302.40.

Penumbra Profile

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.