Louisiana State Employees Retirement System Purchases Shares of 11,400 Penumbra, Inc. $PEN

Louisiana State Employees Retirement System purchased a new stake in shares of Penumbra, Inc. (NYSE:PEN) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 11,400 shares of the company’s stock, valued at approximately $3,743,000.

Several other institutional investors also recently modified their holdings of PEN. Geode Capital Management LLC lifted its position in Penumbra by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 766,510 shares of the company’s stock valued at $238,365,000 after purchasing an additional 18,738 shares during the last quarter. Invesco Ltd. grew its stake in Penumbra by 1.1% in the 4th quarter. Invesco Ltd. now owns 638,305 shares of the company’s stock worth $198,455,000 after buying an additional 7,211 shares in the last quarter. Artisan Partners Limited Partnership increased its holdings in shares of Penumbra by 165.9% in the 4th quarter. Artisan Partners Limited Partnership now owns 594,112 shares of the company’s stock worth $184,715,000 after buying an additional 370,636 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of Penumbra by 1.5% in the 4th quarter. Janus Henderson Group PLC now owns 475,898 shares of the company’s stock worth $147,962,000 after buying an additional 7,050 shares during the last quarter. Finally, Capital World Investors raised its position in shares of Penumbra by 2.6% during the 4th quarter. Capital World Investors now owns 426,456 shares of the company’s stock valued at $132,589,000 after buying an additional 10,724 shares in the last quarter. 88.88% of the stock is currently owned by institutional investors.

Penumbra Price Performance

Shares of Penumbra stock opened at $316.94 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.95 and a current ratio of 6.02. Penumbra, Inc. has a 52-week low of $221.26 and a 52-week high of $362.41. The company has a fifty day moving average of $323.00 and a 200-day moving average of $328.94. The stock has a market capitalization of $12.47 billion, a price-to-earnings ratio of 73.03, a price-to-earnings-growth ratio of 1.96 and a beta of 0.71.

Penumbra (NYSE:PEN) last issued its earnings results on Wednesday, May 6th. The company reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.24). Penumbra had a return on equity of 10.87% and a net margin of 11.76%.The business had revenue of $374.76 million during the quarter, compared to analysts’ expectations of $370.47 million. During the same quarter in the previous year, the business earned $0.83 EPS. Penumbra’s revenue for the quarter was up 15.6% compared to the same quarter last year. Equities research analysts expect that Penumbra, Inc. will post 5.04 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently issued reports on PEN. Evercore reaffirmed an “outperform” rating and set a $335.00 price objective on shares of Penumbra in a report on Thursday, May 7th. Citigroup lowered their price target on Penumbra from $374.00 to $350.00 and set a “neutral” rating on the stock in a research report on Thursday, May 7th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $374.00 price target on shares of Penumbra in a research note on Thursday, June 11th. Finally, Wall Street Zen upgraded Penumbra to a “hold” rating in a report on Saturday, May 9th. Three investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. According to data from MarketBeat, Penumbra presently has an average rating of “Hold” and an average price target of $361.33.

Insider Activity at Penumbra

In other news, Director Harpreet Grewal sold 100 shares of the business’s stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $328.22, for a total value of $32,822.00. Following the completion of the sale, the director owned 8,719 shares of the company’s stock, valued at approximately $2,861,750.18. The trade was a 1.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 2.90% of the company’s stock.

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.