Strs Ohio Sells 9,498 Shares of Penumbra, Inc. $PEN

Strs Ohio lowered its stake in shares of Penumbra, Inc. (NYSE:PEN) by 43.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 12,296 shares of the company’s stock after selling 9,498 shares during the quarter. Strs Ohio’s holdings in Penumbra were worth $3,823,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Horizon Investments LLC increased its position in Penumbra by 261.9% in the 4th quarter. Horizon Investments LLC now owns 14,640 shares of the company’s stock valued at $4,552,000 after buying an additional 10,595 shares in the last quarter. State of New Jersey Common Pension Fund D raised its stake in Penumbra by 3.2% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 12,790 shares of the company’s stock worth $3,977,000 after buying an additional 395 shares during the period. Keybank National Association OH boosted its holdings 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 in the last quarter. M&T Bank Corp boosted its holdings in Penumbra by 72.8% in the fourth quarter. M&T Bank Corp now owns 1,393 shares of the company’s stock worth $433,000 after acquiring an additional 587 shares in the last quarter. Finally, Pictet Asset Management Holding SA grew its stake in Penumbra by 7.3% in the fourth quarter. Pictet Asset Management Holding SA now owns 5,464 shares of the company’s stock valued at $1,699,000 after acquiring an additional 372 shares during the period. Institutional investors own 88.88% of the company’s stock.

Penumbra Stock Performance

Shares of Penumbra stock opened at $324.08 on Wednesday. Penumbra, Inc. has a 52 week low of $221.26 and a 52 week high of $362.41. The company has a quick ratio of 4.29, a current ratio of 6.64 and a debt-to-equity ratio of 0.01. The business has a 50 day moving average price of $333.82 and a 200-day moving average price of $315.01. The company has a market cap of $12.75 billion, a PE ratio of 71.70, a price-to-earnings-growth ratio of 1.99 and a beta of 0.74.

Penumbra (NYSE:PEN) last announced its earnings results on Wednesday, February 25th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.12 by ($1.49). Penumbra had a net margin of 12.66% and a return on equity of 11.41%. The company had revenue of $385.39 million for the quarter, compared to analysts’ expectations of $367.18 million. During the same period in the previous year, the firm earned $0.97 EPS. The firm’s quarterly revenue was up 22.2% on a year-over-year basis. Equities analysts anticipate that Penumbra, Inc. will post 5.08 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Truist Financial downgraded Penumbra from a “buy” rating to a “hold” rating and boosted their price objective for the company from $370.00 to $374.00 in a report on Friday, January 16th. Robert W. Baird reissued a “neutral” rating and issued a $374.00 price target (up from $345.00) on shares of Penumbra in a research report on Friday, January 16th. William Blair lowered shares of Penumbra from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 15th. Piper Sandler downgraded shares of Penumbra from an “overweight” rating to a “hold” rating and set a $374.00 price objective on the stock. in a report on Thursday, January 15th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $374.00 price objective on shares of Penumbra in a research note on Thursday, January 15th. Three research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $364.60.

Insiders Place Their Bets

In other Penumbra news, Director Harpreet Grewal sold 100 shares of Penumbra stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $328.22, for a total transaction of $32,822.00. Following the transaction, the director directly owned 8,719 shares of the company’s stock, valued at $2,861,750.18. The trade was a 1.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Maggie Yuen sold 2,432 shares of the company’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $342.30, for a total transaction of $832,473.60. Following the completion of the sale, the chief financial officer owned 18,353 shares of the company’s stock, valued at approximately $6,282,231.90. The trade was a 11.70% decrease in their position. The SEC filing for this sale provides additional information. 5.00% of the stock is owned by insiders.

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.