Penumbra, Inc. $PEN Shares Acquired by New York State Common Retirement Fund

New York State Common Retirement Fund lifted its stake in Penumbra, Inc. (NYSE:PEN) by 8.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 82,849 shares of the company’s stock after acquiring an additional 6,642 shares during the quarter. New York State Common Retirement Fund owned 0.21% of Penumbra worth $20,987,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Hussman Strategic Advisors Inc. acquired a new stake in Penumbra in the 3rd quarter valued at approximately $3,192,000. EFG Asset Management North America Corp. boosted its position in shares of Penumbra by 21.9% during the third quarter. EFG Asset Management North America Corp. now owns 20,192 shares of the company’s stock worth $5,116,000 after buying an additional 3,631 shares during the period. Vanguard Personalized Indexing Management LLC grew its stake in shares of Penumbra by 2.8% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 4,567 shares of the company’s stock valued at $1,157,000 after buying an additional 124 shares in the last quarter. Covestor Ltd raised its holdings in shares of Penumbra by 53.0% in the 3rd quarter. Covestor Ltd now owns 179 shares of the company’s stock valued at $46,000 after buying an additional 62 shares during the period. Finally, Amalgamated Bank lifted its stake in Penumbra by 1.9% during the 3rd quarter. Amalgamated Bank now owns 19,420 shares of the company’s stock worth $4,919,000 after acquiring an additional 355 shares in the last quarter. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Penumbra Stock Up 0.4%

Shares of NYSE PEN opened at $358.27 on Friday. The business has a 50-day moving average of $319.08 and a two-hundred day moving average of $277.55. The company has a market capitalization of $14.03 billion, a price-to-earnings ratio of 85.71, a price-to-earnings-growth ratio of 2.20 and a beta of 0.71. Penumbra, Inc. has a 1 year low of $221.26 and a 1 year high of $362.41. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.73 and a quick ratio of 4.18.

Penumbra (NYSE:PEN) last issued its earnings results on Wednesday, November 5th. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.07. The business had revenue of $354.69 million for the quarter, compared to analyst estimates of $340.77 million. Penumbra had a return on equity of 11.35% and a net margin of 12.30%.The business’s quarterly revenue was up 17.8% on a year-over-year basis. During the same quarter last year, the company earned $0.85 EPS. On average, analysts forecast that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal year.

Insider Activity at Penumbra

In related news, Director Harpreet Grewal sold 186 shares of the stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $312.64, for a total value of $58,151.04. Following the transaction, the director directly owned 8,230 shares of the company’s stock, valued at $2,573,027.20. This trade represents a 2.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Thomas Wilder sold 186 shares of the business’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $310.72, for a total transaction of $57,793.92. The SEC filing for this sale provides additional information. Insiders sold a total of 34,144 shares of company stock worth $10,260,127 in the last ninety days. Company insiders own 4.20% of the company’s stock.

Analyst Ratings Changes

PEN has been the subject of several research reports. Canaccord Genuity Group downgraded Penumbra from a “buy” rating to a “hold” rating and lifted their target price for the company from $359.00 to $374.00 in a research report on Tuesday, January 20th. Royal Bank Of Canada lowered shares of Penumbra from an “outperform” rating to a “sector perform” rating and raised their price objective for the company from $355.00 to $374.00 in a research note on Tuesday, January 20th. Citigroup downgraded shares of Penumbra from a “buy” rating to a “neutral” rating and upped their target price for the stock from $350.00 to $374.00 in a research note on Thursday, January 15th. Leerink Partners cut shares of Penumbra from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. Finally, UBS Group downgraded shares of Penumbra from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 16th. Four investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $358.00.

About Penumbra

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.