New York State Common Retirement Fund Boosts Stock Position in Penumbra, Inc. (NYSE:PEN)

New York State Common Retirement Fund lifted its stake in Penumbra, Inc. (NYSE:PEN) by 12.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 54,930 shares of the company’s stock after purchasing an additional 6,152 shares during the period. New York State Common Retirement Fund’s holdings in Penumbra were worth $13,817,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in PEN. RiverPark Advisors LLC acquired a new stake in shares of Penumbra in the 3rd quarter worth $42,000. Signaturefd LLC increased its position in Penumbra by 27.2% during the fourth quarter. Signaturefd LLC now owns 215 shares of the company’s stock worth $54,000 after purchasing an additional 46 shares during the last quarter. Covestor Ltd raised its stake in Penumbra by 357.9% during the third quarter. Covestor Ltd now owns 348 shares of the company’s stock worth $84,000 after purchasing an additional 272 shares during the period. Nisa Investment Advisors LLC lifted its holdings in Penumbra by 496.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 358 shares of the company’s stock valued at $90,000 after acquiring an additional 298 shares during the last quarter. Finally, Fifth Third Bancorp grew its position in Penumbra by 13.9% in the fourth quarter. Fifth Third Bancorp now owns 378 shares of the company’s stock worth $95,000 after acquiring an additional 46 shares during the period. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on PEN. JPMorgan Chase & Co. downgraded Penumbra from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $284.00 to $250.00 in a research report on Friday, February 23rd. TheStreet raised shares of Penumbra from a “d+” rating to a “c-” rating in a research note on Friday, January 12th. Truist Financial decreased their price objective on shares of Penumbra from $290.00 to $280.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. Piper Sandler restated an “overweight” rating and set a $290.00 price target on shares of Penumbra in a research report on Wednesday, April 3rd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $289.00 target price on shares of Penumbra in a research note on Friday, February 23rd. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $304.45.

Insider Activity

In other news, EVP Johanna Roberts sold 600 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $237.68, for a total transaction of $142,608.00. Following the sale, the executive vice president now owns 62,997 shares of the company’s stock, valued at approximately $14,973,126.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Don W. Kassing sold 170 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $223.18, for a total value of $37,940.60. Following the completion of the transaction, the director now owns 1,175 shares in the company, valued at approximately $262,236.50. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction on Friday, March 1st. The stock was sold at an average price of $237.68, for a total transaction of $142,608.00. Following the sale, the executive vice president now owns 62,997 shares in the company, valued at $14,973,126.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,648 shares of company stock worth $2,369,903. 5.30% of the stock is currently owned by insiders.

Penumbra Trading Down 1.2 %

NYSE PEN opened at $201.94 on Tuesday. Penumbra, Inc. has a 52 week low of $180.93 and a 52 week high of $348.67. The firm has a 50 day moving average of $226.70 and a two-hundred day moving average of $231.91. The stock has a market capitalization of $7.83 billion, a PE ratio of 87.42, a price-to-earnings-growth ratio of 2.02 and a beta of 0.51. The company has a quick ratio of 3.49, a current ratio of 6.06 and a debt-to-equity ratio of 0.02.

Penumbra (NYSE:PEN) last issued its earnings results on Thursday, February 22nd. The company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.05. Penumbra had a net margin of 8.59% and a return on equity of 7.49%. The firm had revenue of $284.68 million during the quarter, compared to the consensus estimate of $286.62 million. During the same quarter in the previous year, the firm posted $0.16 earnings per share. The company’s revenue was up 28.7% compared to the same quarter last year. As a group, research analysts expect that Penumbra, Inc. will post 2.85 EPS for the current fiscal year.

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.