Penumbra, Inc. (NYSE:PEN) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lowered its stake in shares of Penumbra, Inc. (NYSE:PEN) by 3.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,083 shares of the company’s stock after selling 652 shares during the quarter. Public Employees Retirement System of Ohio owned approximately 0.05% of Penumbra worth $4,097,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in PEN. Advisors Asset Management Inc. increased its holdings in shares of Penumbra by 11.5% during the third quarter. Advisors Asset Management Inc. now owns 416 shares of the company’s stock valued at $81,000 after purchasing an additional 43 shares during the period. ProShare Advisors LLC boosted its holdings in shares of Penumbra by 2.9% in the second quarter. ProShare Advisors LLC now owns 2,171 shares of the company’s stock valued at $391,000 after acquiring an additional 62 shares in the last quarter. Legacy Wealth Asset Management LLC increased its stake in shares of Penumbra by 3.9% during the third quarter. Legacy Wealth Asset Management LLC now owns 1,731 shares of the company’s stock valued at $336,000 after acquiring an additional 65 shares during the period. Creative Planning raised its holdings in Penumbra by 4.7% during the third quarter. Creative Planning now owns 1,574 shares of the company’s stock worth $306,000 after purchasing an additional 71 shares in the last quarter. Finally, Arcadia Investment Management Corp MI lifted its position in Penumbra by 7.9% in the second quarter. Arcadia Investment Management Corp MI now owns 1,006 shares of the company’s stock worth $181,000 after purchasing an additional 74 shares during the period. 88.88% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Johanna Roberts sold 600 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $244.49, for a total transaction of $146,694.00. Following the completion of the transaction, the executive vice president now owns 63,444 shares of the company’s stock, valued at approximately $15,511,423.56. This represents a 0.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Harpreet Grewal sold 166 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $190.83, for a total value of $31,677.78. Following the completion of the sale, the director now owns 8,697 shares of the company’s stock, valued at $1,659,648.51. This represents a 1.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 49,418 shares of company stock valued at $10,624,973 in the last quarter. Insiders own 5.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on PEN shares. Leerink Partnrs upgraded Penumbra to a “strong-buy” rating in a research report on Tuesday, September 3rd. Needham & Company LLC restated a “hold” rating on shares of Penumbra in a report on Thursday, October 31st. Robert W. Baird boosted their target price on Penumbra from $244.00 to $248.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Citigroup increased their price target on Penumbra from $220.00 to $245.00 and gave the company a “neutral” rating in a research report on Wednesday, December 11th. Finally, Piper Sandler upped their price objective on shares of Penumbra from $235.00 to $250.00 and gave the company an “overweight” rating in a research note on Wednesday, November 20th. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $252.42.

Penumbra Stock Performance

Shares of NYSE PEN opened at $245.55 on Monday. The business’s 50-day simple moving average is $227.34 and its 200-day simple moving average is $201.86. Penumbra, Inc. has a 52 week low of $148.00 and a 52 week high of $277.34. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.25 and a current ratio of 5.82. The firm has a market cap of $9.42 billion, a price-to-earnings ratio of 285.52, a P/E/G ratio of 2.47 and a beta of 0.51.

Penumbra (NYSE:PEN) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.16. The company had revenue of $301.04 million for the quarter, compared to analyst estimates of $297.36 million. Penumbra had a net margin of 2.97% and a return on equity of 8.99%. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.67 earnings per share. As a group, equities research analysts expect that Penumbra, Inc. will post 2.81 earnings per share for the current fiscal year.

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.