California State Teachers Retirement System Grows Position in Penumbra, Inc. $PEN

California State Teachers Retirement System increased its holdings in Penumbra, Inc. (NYSE:PEN) by 31,694.6% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 13,667,555 shares of the company’s stock after buying an additional 13,624,568 shares during the quarter. California State Teachers Retirement System owned about 0.35% of Penumbra worth $4,315,530,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. BlackRock Inc. bought a new position in Penumbra during the 2nd quarter valued at about $1,356,953,000. Whitebox Advisors LLC purchased a new position in shares of Penumbra during the first quarter valued at approximately $146,125,000. Artisan Partners Limited Partnership raised its holdings in shares of Penumbra by 165.9% during the fourth quarter. Artisan Partners Limited Partnership now owns 594,112 shares of the company’s stock valued at $184,715,000 after purchasing an additional 370,636 shares during the last quarter. William Blair Investment Management LLC bought a new position in Penumbra during the fourth quarter valued at approximately $107,567,000. Finally, Bank of America Corp DE bought a new position in Penumbra during the second quarter valued at approximately $83,995,000. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Evercore reaffirmed an “outperform” rating and issued a $320.00 target price on shares of Penumbra in a research report on Monday, July 6th. Weiss Ratings restated a “hold (c)” rating on shares of Penumbra in a research note on Friday, July 17th. Zacks Research raised Penumbra from a “strong sell” rating to a “hold” rating in a report on Monday, August 24th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $374.00 price objective on shares of Penumbra in a report on Thursday, June 11th. Three investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $367.07.

Penumbra Stock Performance

PEN opened at $319.71 on Thursday. The company’s 50 day moving average is $321.53 and its 200 day moving average is $325.76. The company has a current ratio of 5.75, a quick ratio of 3.86 and a debt-to-equity ratio of 0.01. The company has a market cap of $12.59 billion, a price-to-earnings ratio of 78.55, a PEG ratio of 2.19 and a beta of 0.70. Penumbra, Inc. has a 12-month low of $221.26 and a 12-month high of $362.41.

Penumbra (NYSE:PEN) last announced its earnings results on Thursday, July 30th. The company reported $0.88 EPS for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.28). Penumbra had a net margin of 10.67% and a return on equity of 10.50%. The business had revenue of $390.05 million for the quarter, compared to analysts’ expectations of $389.64 million. During the same period in the prior year, the company posted $0.86 earnings per share. The firm’s quarterly revenue was up 14.9% on a year-over-year basis. On average, equities research analysts predict that Penumbra, Inc. will post 4.96 EPS for the current year.

Penumbra Company 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.