California Public Employees Retirement System Increases Position in Penumbra, Inc. $PEN

California Public Employees Retirement System lifted its stake in shares of Penumbra, Inc. (NYSE:PEN) by 25.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 60,421 shares of the company’s stock after purchasing an additional 12,108 shares during the period. California Public Employees Retirement System owned 0.15% of Penumbra worth $19,840,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Hsbc Holdings PLC increased its holdings in shares of Penumbra by 2.3% during the 4th quarter. Hsbc Holdings PLC now owns 1,527 shares of the company’s stock worth $475,000 after buying an additional 35 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of Penumbra by 27.1% during the 4th quarter. Farther Finance Advisors LLC now owns 178 shares of the company’s stock valued at $55,000 after buying an additional 38 shares during the period. Swiss Life Asset Management Ltd lifted its holdings in Penumbra by 2.3% in the fourth quarter. Swiss Life Asset Management Ltd now owns 1,728 shares of the company’s stock valued at $537,000 after acquiring an additional 39 shares during the last quarter. Keybank National Association OH grew its position in Penumbra by 1.2% in the fourth quarter. Keybank National Association OH now owns 3,705 shares of the company’s stock worth $1,152,000 after acquiring an additional 43 shares during the period. Finally, UMB Bank n.a. grew its position in Penumbra by 11.3% in the fourth quarter. UMB Bank n.a. now owns 442 shares of the company’s stock worth $137,000 after acquiring an additional 45 shares during the period. 88.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on PEN shares. Zacks Research lowered shares of Penumbra from a “hold” rating to a “strong sell” rating in a report on Monday, June 29th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $374.00 price target on shares of Penumbra in a research report on Thursday, June 11th. Wall Street Zen raised shares of Penumbra to a “hold” rating in a research report on Saturday, May 9th. Evercore reiterated an “outperform” rating and issued a $320.00 target price on shares of Penumbra in a report on Monday, July 6th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Penumbra in a research report on Friday, July 17th. Three investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $360.33.

Penumbra Stock Down 0.3%

Shares of NYSE:PEN opened at $316.58 on Thursday. The firm has a 50 day simple moving average of $319.64 and a 200-day simple moving average of $329.94. Penumbra, Inc. has a twelve month low of $221.26 and a twelve month high of $362.41. The company has a current ratio of 6.02, a quick ratio of 3.95 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $12.45 billion, a PE ratio of 72.94, a P/E/G ratio of 1.97 and a beta of 0.70.

Penumbra (NYSE:PEN) last posted its earnings results on Wednesday, May 6th. The company reported $0.82 earnings per share for the quarter, missing the consensus estimate of $1.06 by ($0.24). The firm had revenue of $374.76 million during the quarter, compared to analysts’ expectations of $370.47 million. Penumbra had a net margin of 11.76% and a return on equity of 10.87%. The firm’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.83 earnings per share. On average, equities analysts predict that Penumbra, Inc. will post 5.02 EPS for the current fiscal year.

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.