Teachers Retirement System of The State of Kentucky Invests $6.43 Million in Penumbra, Inc. (NYSE:PEN)

Teachers Retirement System of The State of Kentucky bought a new position in shares of Penumbra, Inc. (NYSE:PEN – Get Rating) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 33,898 shares of the company’s stock, valued at approximately $6,427,000.

Other hedge funds also recently modified their holdings of the company. Captrust Financial Advisors lifted its stake in shares of Penumbra by 44.1% during the 2nd quarter. Captrust Financial Advisors now owns 219 shares of the company’s stock worth $27,000 after buying an additional 67 shares during the last quarter. Hanseatic Management Services Inc. acquired a new stake in Penumbra in the 3rd quarter worth about $35,000. Wipfli Financial Advisors LLC acquired a new stake in Penumbra in the 3rd quarter worth about $40,000. Quadrant Capital Group LLC raised its stake in Penumbra by 251.1% in the 3rd quarter. Quadrant Capital Group LLC now owns 495 shares of the company’s stock worth $94,000 after purchasing an additional 354 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new stake in Penumbra in the 2nd quarter worth about $94,000. Institutional investors and hedge funds own 82.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PEN. JPMorgan Chase & Co. lifted their price objective on shares of Penumbra from $254.00 to $285.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 1st. Piper Sandler assumed coverage on shares of Penumbra in a research note on Monday, January 30th. They issued an “overweight” rating and a $275.00 price objective for the company. Deutsche Bank Aktiengesellschaft raised their target price on shares of Penumbra from $250.00 to $297.00 and gave the company a “buy” rating in a report on Tuesday, February 7th. StockNews.com assumed coverage on shares of Penumbra in a report on Thursday. They issued a “hold” rating on the stock. Finally, TheStreet raised shares of Penumbra from a “d+” rating to a “c-” rating in a report on Friday, January 13th. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $265.42.

Insiders Place Their Bets

In other Penumbra news, Director Harpreet Grewal sold 875 shares of the business’s stock in a transaction that occurred on Wednesday, March 15th. The shares were sold at an average price of $254.98, for a total transaction of $223,107.50. Following the sale, the director now directly owns 10,535 shares of the company’s stock, valued at approximately $2,686,214.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Penumbra news, Director Harpreet Grewal sold 875 shares of the business’s stock in a transaction that occurred on Wednesday, March 15th. The shares were sold at an average price of $254.98, for a total transaction of $223,107.50. Following the sale, the director now directly owns 10,535 shares of the company’s stock, valued at approximately $2,686,214.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Johanna Roberts sold 600 shares of the business’s stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $258.62, for a total transaction of $155,172.00. Following the sale, the executive vice president now directly owns 69,960 shares in the company, valued at $18,093,055.20. The disclosure for this sale can be found here. Insiders have sold 28,002 shares of company stock valued at $7,035,065 in the last ninety days. 5.50% of the stock is currently owned by insiders.

Penumbra Trading Down 1.9 %

Shares of Penumbra stock opened at $263.00 on Friday. The firm has a market capitalization of $10.04 billion, a PE ratio of -4,383.33 and a beta of 0.52. The company has a current ratio of 5.21, a quick ratio of 2.91 and a debt-to-equity ratio of 0.02. The firm’s 50 day moving average is $253.72 and its 200 day moving average is $215.22. Penumbra, Inc. has a 1 year low of $114.86 and a 1 year high of $274.71.

Penumbra (NYSE:PEN – Get Rating) last announced its quarterly earnings results on Thursday, February 23rd. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.02. Penumbra had a negative net margin of 0.24% and a positive return on equity of 0.66%. The company had revenue of $221.22 million for the quarter, compared to analyst estimates of $217.03 million. During the same period in the previous year, the firm posted $0.10 EPS. The firm’s revenue was up 8.4% on a year-over-year basis. Equities research analysts forecast that Penumbra, Inc. will post 1.29 earnings per share for the current fiscal year.

Penumbra Company Profile

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Penumbra, Inc engages in the design, development, manufacture, and marketing of innovative medical devices. It offers neurovascular thrombectomy and embolization and access technologies, neurosurgical tools, Penumbra LANTERN Delivery Microcatheter, and Penumbra Occlusion Device (POD) system. Its target markets include interventional neuroradiologists, neurosurgeons, neurologists, cardiologists, radiologists, and vascular surgeons.