Penumbra, Inc. $PEN Shares Bought by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lifted its stake in shares of Penumbra, Inc. (NYSE:PEN) by 9.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,860 shares of the company’s stock after acquiring an additional 2,348 shares during the quarter. Public Employees Retirement System of Ohio owned 0.07% of Penumbra worth $7,150,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Penumbra by 0.7% during the first quarter. Vanguard Group Inc. now owns 3,675,349 shares of the company’s stock valued at $982,825,000 after buying an additional 24,727 shares in the last quarter. JPMorgan Chase & Co. raised its position in Penumbra by 437.0% during the first quarter. JPMorgan Chase & Co. now owns 703,634 shares of the company’s stock valued at $188,159,000 after acquiring an additional 572,606 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Penumbra by 7.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 321,046 shares of the company’s stock valued at $87,045,000 after acquiring an additional 21,649 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Penumbra by 4.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 283,821 shares of the company’s stock valued at $75,897,000 after acquiring an additional 12,247 shares during the last quarter. Finally, Lord Abbett & CO. LLC bought a new stake in Penumbra in the first quarter worth approximately $63,731,000. 88.88% of the stock is owned by hedge funds and other institutional investors.

Penumbra Stock Performance

Shares of PEN stock opened at $253.64 on Monday. The stock has a market cap of $9.89 billion, a PE ratio of 67.46, a price-to-earnings-growth ratio of 2.28 and a beta of 0.45. The stock has a 50-day moving average of $255.51 and a 200-day moving average of $263.57. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.75 and a quick ratio of 4.04. Penumbra, Inc. has a one year low of $186.96 and a one year high of $310.00.

Penumbra (NYSE:PEN) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. Penumbra had a net margin of 11.54% and a return on equity of 11.55%. The firm had revenue of $339.46 million during the quarter, compared to analysts’ expectations of $327.37 million. During the same quarter in the previous year, the company earned $0.64 earnings per share. The business’s revenue for the quarter was up 13.4% on a year-over-year basis. Penumbra has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that Penumbra, Inc. will post 3.67 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Maggie Yuen sold 2,000 shares of the stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $250.00, for a total transaction of $500,000.00. Following the completion of the transaction, the chief financial officer owned 12,943 shares in the company, valued at approximately $3,235,750. This represents a 13.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Arani Bose sold 12,000 shares of the firm’s stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $250.65, for a total value of $3,007,800.00. Following the completion of the transaction, the director owned 558 shares of the company’s stock, valued at $139,862.70. The trade was a 95.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 96,223 shares of company stock valued at $23,892,820 over the last 90 days. 5.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on PEN shares. William Blair upgraded shares of Penumbra to a “strong-buy” rating in a report on Friday, July 18th. Wall Street Zen lowered Penumbra from a “buy” rating to a “hold” rating in a report on Friday. Canaccord Genuity Group set a $350.00 price objective on Penumbra and gave the company a “buy” rating in a research report on Wednesday, July 30th. Wells Fargo & Company reduced their target price on Penumbra from $315.00 to $290.00 and set an “overweight” rating for the company in a research report on Wednesday, July 30th. Finally, Citigroup dropped their price objective on Penumbra from $320.00 to $285.00 and set a “neutral” rating for the company in a research note on Wednesday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $302.93.

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.