Teachers Retirement System of The State of Kentucky Cuts Holdings in Penumbra, Inc. (NYSE:PEN)

Teachers Retirement System of The State of Kentucky cut its holdings in Penumbra, Inc. (NYSE:PEN) by 1.2% during the third quarter, Holdings Channel reports. The institutional investor owned 28,406 shares of the company’s stock after selling 340 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Penumbra were worth $5,519,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PEN. True Wealth Design LLC purchased a new stake in shares of Penumbra during the 3rd quarter worth $26,000. GAMMA Investing LLC lifted its stake in shares of Penumbra by 111.1% in the third quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock valued at $33,000 after purchasing an additional 90 shares during the period. Park Place Capital Corp boosted its holdings in Penumbra by 1,473.9% during the third quarter. Park Place Capital Corp now owns 362 shares of the company’s stock worth $70,000 after buying an additional 339 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Penumbra by 1,845.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 389 shares of the company’s stock worth $70,000 after buying an additional 369 shares during the period. Finally, Advisors Asset Management Inc. increased its holdings in Penumbra by 11.5% in the third quarter. Advisors Asset Management Inc. now owns 416 shares of the company’s stock valued at $81,000 after buying an additional 43 shares in the last quarter. Institutional investors and hedge funds own 88.88% of the company’s stock.

Penumbra Stock Performance

Shares of NYSE PEN opened at $252.54 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.82 and a quick ratio of 3.25. The company has a market cap of $9.69 billion, a PE ratio of 293.65, a price-to-earnings-growth ratio of 2.55 and a beta of 0.51. The company has a 50-day simple moving average of $225.17 and a 200-day simple moving average of $201.01. Penumbra, Inc. has a 12 month low of $148.00 and a 12 month high of $277.34.

Penumbra (NYSE:PEN) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.16. Penumbra had a return on equity of 8.99% and a net margin of 2.97%. The company had revenue of $301.04 million during the quarter, compared to the consensus estimate of $297.36 million. During the same period in the previous year, the firm posted $0.67 EPS. Penumbra’s revenue was up 11.1% on a year-over-year basis. On average, equities analysts anticipate that Penumbra, Inc. will post 2.81 earnings per share for the current year.

Analysts Set New Price Targets

PEN has been the topic of several research analyst reports. Truist Financial boosted their price target on Penumbra from $200.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Needham & Company LLC reiterated a “hold” rating on shares of Penumbra in a research report on Thursday, October 31st. Royal Bank of Canada raised their price target on Penumbra from $205.00 to $222.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Leerink Partnrs upgraded shares of Penumbra to a “strong-buy” rating in a research report on Tuesday, September 3rd. Finally, BTIG Research raised their target price on shares of Penumbra from $232.00 to $270.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $252.42.

Insider Buying and Selling

In related news, CAO Lambert Shiu sold 1,798 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $242.56, for a total value of $436,122.88. Following the completion of the sale, the chief accounting officer now directly owns 20,682 shares in the company, valued at approximately $5,016,625.92. The trade was a 8.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Johanna Roberts sold 600 shares of the 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 transaction, the executive vice president now directly owns 63,444 shares in the company, valued at approximately $15,511,423.56. This represents a 0.94 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 49,418 shares of company stock worth $10,624,973. 5.00% of the stock is 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.