Illinois Municipal Retirement Fund Cuts Stock Holdings in Penumbra, Inc. $PEN

Illinois Municipal Retirement Fund lowered its position in shares of Penumbra, Inc. (NYSE:PEN) by 30.9% in the 1st quarter, Holdings Channel.com reports. The fund owned 6,076 shares of the company’s stock after selling 2,720 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Penumbra were worth $1,995,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the company. Larson Financial Group LLC lifted its position in Penumbra by 4,100.0% in the 4th quarter. Larson Financial Group LLC now owns 84 shares of the company’s stock valued at $26,000 after acquiring an additional 82 shares in the last quarter. CIBC Private Wealth Group LLC increased its holdings in shares of Penumbra by 2,700.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 84 shares of the company’s stock worth $26,000 after purchasing an additional 81 shares in the last quarter. Motiv8 Investments LLC purchased a new position in shares of Penumbra in the fourth quarter worth $27,000. Morse Asset Management Inc purchased a new position in shares of Penumbra in the fourth quarter worth $39,000. Finally, Farther Finance Advisors LLC raised its stake in shares of Penumbra by 27.1% in the fourth quarter. Farther Finance Advisors LLC now owns 178 shares of the company’s stock worth $55,000 after purchasing an additional 38 shares during the last quarter. 88.88% of the stock is currently owned by hedge funds and other institutional investors.

Penumbra Trading Down 0.0%

Penumbra stock opened at $318.18 on Tuesday. Penumbra, Inc. has a 12-month low of $221.26 and a 12-month high of $362.41. The firm has a market capitalization of $12.51 billion, a price-to-earnings ratio of 73.31, a P/E/G ratio of 1.97 and a beta of 0.70. The firm has a 50 day moving average of $319.87 and a 200 day moving average of $329.86. The company has a current ratio of 6.02, a quick ratio of 3.95 and a debt-to-equity ratio of 0.01.

Penumbra (NYSE:PEN) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.24). The firm had revenue of $374.76 million during the quarter, compared to the consensus estimate of $370.47 million. Penumbra had a return on equity of 10.87% and a net margin of 11.76%.The business’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.83 earnings per share. As a group, research analysts predict that Penumbra, Inc. will post 5.04 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Wall Street Zen raised Penumbra to a “hold” rating in a research report on Saturday, May 9th. Citigroup decreased their target price on Penumbra from $374.00 to $350.00 and set a “neutral” rating for the company in a research report on Thursday, May 7th. Zacks Research cut shares of Penumbra from a “hold” rating to a “strong sell” rating in a research note on Monday, June 29th. Weiss Ratings restated a “hold (c)” rating on shares of Penumbra in a research note on Friday. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $374.00 price target on shares of Penumbra in a report on Thursday, June 11th. Three analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $360.33.

Penumbra Company 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.