Oregon Public Employees Retirement Fund Reduces Holdings in Penumbra, Inc. (NYSE:PEN)

Oregon Public Employees Retirement Fund decreased its holdings in shares of Penumbra, Inc. (NYSE:PEN) by 1.3% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 7,818 shares of the company’s stock after selling 100 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Penumbra were worth $1,857,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. True Wealth Design LLC purchased a new stake in shares of Penumbra during the third quarter worth about $26,000. UMB Bank n.a. grew its stake in shares of Penumbra by 57.4% during the fourth quarter. UMB Bank n.a. now owns 192 shares of the company’s stock worth $46,000 after acquiring an additional 70 shares during the last quarter. Mather Group LLC. grew its stake in shares of Penumbra by 208.0% during the fourth quarter. Mather Group LLC. now owns 308 shares of the company’s stock worth $73,000 after acquiring an additional 208 shares during the last quarter. Advisors Asset Management Inc. grew its stake in shares of Penumbra by 11.5% during the third quarter. Advisors Asset Management Inc. now owns 416 shares of the company’s stock worth $81,000 after acquiring an additional 43 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Penumbra by 160.8% during the fourth quarter. GAMMA Investing LLC now owns 446 shares of the company’s stock worth $106,000 after acquiring an additional 275 shares during the last quarter. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Penumbra Trading Up 1.4 %

Shares of NYSE:PEN opened at $285.36 on Friday. Penumbra, Inc. has a 12-month low of $148.00 and a 12-month high of $310.00. The company has a market capitalization of $10.99 billion, a PE ratio of 839.29, a PEG ratio of 2.83 and a beta of 0.53. The business has a 50 day moving average of $263.25 and a two-hundred day moving average of $231.89. The company has a current ratio of 6.01, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02.

Penumbra (NYSE:PEN) last announced its earnings results on Tuesday, February 18th. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.09. The business had revenue of $315.52 million during the quarter, compared to the consensus estimate of $311.63 million. Penumbra had a return on equity of 9.74% and a net margin of 1.17%. As a group, analysts forecast that Penumbra, Inc. will post 3.67 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Wells Fargo & Company upped their target price on Penumbra from $275.00 to $305.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. JPMorgan Chase & Co. upped their target price on Penumbra from $230.00 to $285.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. Truist Financial upped their target price on Penumbra from $285.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Morgan Stanley upped their target price on Penumbra from $240.00 to $260.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 19th. Finally, Oppenheimer assumed coverage on Penumbra in a research report on Tuesday, December 17th. They issued an “outperform” rating and a $275.00 target price on the stock. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $292.64.

Insider Transactions at Penumbra

In other news, EVP Johanna Roberts sold 600 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was 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 directly owns 63,444 shares of the company’s stock, valued at $15,511,423.56. This represents a 0.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Harpreet Grewal sold 167 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $241.28, for a total value of $40,293.76. Following the transaction, the director now directly owns 8,530 shares of the company’s stock, valued at approximately $2,058,118.40. The trade was a 1.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,421 shares of company stock valued at $3,990,316 in the last three months. 5.00% of the stock is currently owned by company insiders.

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.