Penumbra, Inc. (NYSE:PEN) Shares Acquired by State of Alaska Department of Revenue

State of Alaska Department of Revenue raised its stake in Penumbra, Inc. (NYSE:PEN) by 2.6% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 4,495 shares of the company’s stock after purchasing an additional 115 shares during the period. State of Alaska Department of Revenue’s holdings in Penumbra were worth $1,202,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. RTW Investments LP boosted its holdings in shares of Penumbra by 8.4% in the 4th quarter. RTW Investments LP now owns 862,450 shares of the company’s stock valued at $204,815,000 after buying an additional 66,700 shares during the period. T. Rowe Price Investment Management Inc. raised its holdings in shares of Penumbra by 47.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 707,061 shares of the company’s stock valued at $167,913,000 after acquiring an additional 227,506 shares during the period. Bank of America Corp DE raised its holdings in shares of Penumbra by 19.9% during the fourth quarter. Bank of America Corp DE now owns 346,528 shares of the company’s stock valued at $82,293,000 after acquiring an additional 57,421 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Penumbra by 23.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 323,964 shares of the company’s stock valued at $76,937,000 after acquiring an additional 60,764 shares during the period. Finally, Northern Trust Corp raised its holdings in shares of Penumbra by 20.8% during the fourth quarter. Northern Trust Corp now owns 318,230 shares of the company’s stock valued at $75,573,000 after acquiring an additional 54,890 shares during the period. Institutional investors own 88.88% of the company’s stock.

Insider Activity at Penumbra

In other Penumbra news, CEO Adam Elsesser sold 16,650 shares of Penumbra stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $289.37, for a total value of $4,818,010.50. Following the sale, the chief executive officer now owns 75,237 shares of the company’s stock, valued at $21,771,330.69. This trade represents a 18.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $258.17, for a total value of $154,902.00. Following the completion of the sale, the executive vice president now directly owns 64,714 shares in the company, valued at approximately $16,707,213.38. This represents a 0.92% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 116,205 shares of company stock worth $32,418,534 in the last quarter. Corporate insiders own 4.20% of the company’s stock.

Analysts Set New Price Targets

PEN has been the topic of a number of research analyst reports. BTIG Research reaffirmed a “buy” rating on shares of Penumbra in a research report on Thursday, April 24th. Royal Bank Of Canada upped their price objective on shares of Penumbra from $315.00 to $330.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. Truist Financial upped their target price on shares of Penumbra from $315.00 to $330.00 and gave the company a “buy” rating in a research note on Thursday, April 24th. Wells Fargo & Company upped their target price on shares of Penumbra from $305.00 to $315.00 and gave the company an “overweight” rating in a research note on Thursday, April 24th. Finally, Wall Street Zen upgraded shares of Penumbra from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 14th. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $302.40.

Penumbra Stock Down 0.9%

Shares of NYSE:PEN opened at $253.33 on Thursday. Penumbra, Inc. has a 12 month low of $148.00 and a 12 month high of $310.00. The company’s 50-day moving average price is $273.32 and its two-hundred day moving average price is $267.79. The company has a quick ratio of 3.68, a current ratio of 6.30 and a debt-to-equity ratio of 0.02. The firm has a market cap of $9.81 billion, a P/E ratio of 238.99, a P/E/G ratio of 2.28 and a beta of 0.49.

Penumbra (NYSE:PEN) last issued its earnings results on Wednesday, April 23rd. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.17. Penumbra had a net margin of 3.41% and a return on equity of 11.14%. The company had revenue of $324.14 million for the quarter, compared to analyst estimates of $315.72 million. During the same quarter last year, the firm earned $0.41 EPS. The company’s revenue for the quarter was up 16.3% on a year-over-year basis. As a group, research analysts forecast that Penumbra, Inc. will post 3.67 EPS for the current fiscal year.

Penumbra Company 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.