Retirement Systems of Alabama Has $12.16 Million Stock Holdings in Penumbra, Inc. (NYSE:PEN)

Retirement Systems of Alabama increased its position in Penumbra, Inc. (NYSE:PEN) by 0.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 48,340 shares of the company’s stock after purchasing an additional 347 shares during the quarter. Retirement Systems of Alabama owned approximately 0.13% of Penumbra worth $12,159,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. RiverPark Advisors LLC acquired a new stake in shares of Penumbra during the 3rd quarter worth approximately $42,000. Signaturefd LLC grew its holdings in Penumbra by 27.2% during the 4th quarter. Signaturefd LLC now owns 215 shares of the company’s stock worth $54,000 after acquiring an additional 46 shares during the period. Covestor Ltd raised its position in shares of Penumbra by 357.9% during the 3rd quarter. Covestor Ltd now owns 348 shares of the company’s stock valued at $84,000 after acquiring an additional 272 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Penumbra by 496.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 358 shares of the company’s stock valued at $90,000 after purchasing an additional 298 shares during the period. Finally, Fifth Third Bancorp boosted its position in shares of Penumbra by 13.9% in the 4th quarter. Fifth Third Bancorp now owns 378 shares of the company’s stock worth $95,000 after purchasing an additional 46 shares during the last quarter. 88.88% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on PEN. Piper Sandler reiterated an “overweight” rating and issued a $290.00 price objective on shares of Penumbra in a report on Wednesday, April 3rd. JPMorgan Chase & Co. cut Penumbra from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $284.00 to $250.00 in a research note on Friday, February 23rd. Canaccord Genuity Group reissued a “buy” rating and set a $284.00 price objective on shares of Penumbra in a research note on Friday, February 23rd. TheStreet upgraded shares of Penumbra from a “d+” rating to a “c-” rating in a report on Friday, January 12th. Finally, Truist Financial cut their target price on shares of Penumbra from $290.00 to $280.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $304.45.

Insider Buying and Selling

In other Penumbra news, EVP Johanna Roberts sold 600 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $217.07, for a total transaction of $130,242.00. Following the sale, the executive vice president now directly owns 64,281 shares of the company’s stock, valued at approximately $13,953,476.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Don W. Kassing sold 170 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $223.18, for a total value of $37,940.60. Following the completion of the transaction, the director now directly owns 1,175 shares of the company’s stock, valued at $262,236.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Johanna Roberts sold 600 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $217.07, for a total transaction of $130,242.00. Following the sale, the executive vice president now directly owns 64,281 shares in the company, valued at $13,953,476.67. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,648 shares of company stock worth $2,369,903. 5.30% of the stock is owned by insiders.

Penumbra Stock Performance

Shares of Penumbra stock opened at $205.29 on Thursday. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.06 and a quick ratio of 3.49. The firm has a market cap of $7.96 billion, a price-to-earnings ratio of 88.87, a price-to-earnings-growth ratio of 1.94 and a beta of 0.57. The stock’s 50-day moving average is $224.20 and its 200-day moving average is $231.72. Penumbra, Inc. has a one year low of $180.93 and a one year high of $348.67.

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

Penumbra Company 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.