New York State Common Retirement Fund Purchases 6,152 Shares of Penumbra, Inc. (NYSE:PEN)

New York State Common Retirement Fund boosted its holdings in shares of Penumbra, Inc. (NYSE:PEN) by 12.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 54,930 shares of the company’s stock after buying an additional 6,152 shares during the period. New York State Common Retirement Fund owned approximately 0.14% of Penumbra worth $13,817,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PEN. RWA Wealth Partners LLC purchased a new stake in shares of Penumbra in the 4th quarter valued at about $962,000. Jennison Associates LLC bought a new position in shares of Penumbra in the fourth quarter worth approximately $7,503,000. Handelsbanken Fonder AB raised its stake in Penumbra by 36.0% in the fourth quarter. Handelsbanken Fonder AB now owns 9,058 shares of the company’s stock valued at $2,278,000 after purchasing an additional 2,400 shares in the last quarter. Signaturefd LLC lifted its position in Penumbra by 27.2% during the fourth quarter. Signaturefd LLC now owns 215 shares of the company’s stock valued at $54,000 after purchasing an additional 46 shares during the last quarter. Finally, Onyx Bridge Wealth Group LLC grew its stake in Penumbra by 22.2% in the 4th quarter. Onyx Bridge Wealth Group LLC now owns 3,575 shares of the company’s stock worth $899,000 after buying an additional 650 shares in the last quarter. 88.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Penumbra

In related news, Director Don W. Kassing sold 170 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $223.18, for a total transaction of $37,940.60. Following the transaction, the director now owns 1,175 shares in the company, valued at approximately $262,236.50. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Arani Bose sold 7,500 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $250.20, for a total value of $1,876,500.00. Following the completion of the sale, the director now owns 164,294 shares of the company’s stock, valued at $41,106,358.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Don W. Kassing sold 170 shares of Penumbra stock in a transaction on Monday, April 1st. The shares were sold at an average price of $223.18, for a total transaction of $37,940.60. Following the completion of the sale, the director now owns 1,175 shares in the company, valued at approximately $262,236.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,648 shares of company stock worth $2,369,903. Company insiders own 5.30% of the company’s stock.

Penumbra Stock Performance

NYSE:PEN opened at $201.94 on Tuesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.49 and a current ratio of 6.06. Penumbra, Inc. has a fifty-two week low of $180.93 and a fifty-two week high of $348.67. The firm has a market cap of $7.83 billion, a PE ratio of 87.42, a price-to-earnings-growth ratio of 2.02 and a beta of 0.51. The business has a 50 day moving average price of $226.70 and a 200-day moving average price of $231.91.

Penumbra (NYSE:PEN) last posted its quarterly earnings results on Thursday, February 22nd. The company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.05. The company had revenue of $284.68 million during the quarter, compared to analyst estimates of $286.62 million. Penumbra had a net margin of 8.59% and a return on equity of 7.49%. The firm’s revenue was up 28.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.16 EPS. Equities research analysts predict that Penumbra, Inc. will post 2.85 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on PEN. Royal Bank of Canada restated an “outperform” rating and set a $289.00 price objective on shares of Penumbra in a research report on Friday, February 23rd. Piper Sandler reaffirmed an “overweight” rating and set a $290.00 price target on shares of Penumbra in a research note on Wednesday, April 3rd. Truist Financial cut their price objective on Penumbra from $290.00 to $280.00 and set a “buy” rating for the company in a report on Friday, March 22nd. TheStreet raised Penumbra from a “d+” rating to a “c-” rating in a report on Friday, January 12th. Finally, JPMorgan Chase & Co. lowered Penumbra from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $284.00 to $250.00 in a research note on Friday, February 23rd. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $304.45.

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.