New York State Common Retirement Fund boosted its holdings in shares of Penumbra, Inc. (NYSE:PEN – Get Rating) by 24.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 55,896 shares of the company’s stock after buying an additional 10,956 shares during the quarter. New York State Common Retirement Fund owned approximately 0.15% of Penumbra worth $12,416,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Penumbra by 37.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,878 shares of the company’s stock valued at $1,402,000 after acquiring an additional 1,331 shares during the period. AGF Investments Inc. raised its holdings in Penumbra by 149.3% during the fourth quarter. AGF Investments Inc. now owns 1,496 shares of the company’s stock valued at $430,000 after acquiring an additional 896 shares during the period. Nisa Investment Advisors LLC raised its holdings in Penumbra by 54.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 903 shares of the company’s stock valued at $204,000 after acquiring an additional 317 shares during the period. Northwestern Mutual Investment Management Company LLC raised its holdings in Penumbra by 2.5% during the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 5,821 shares of the company’s stock valued at $1,672,000 after acquiring an additional 141 shares during the period. Finally, Pacer Advisors Inc. raised its holdings in Penumbra by 5.3% during the fourth quarter. Pacer Advisors Inc. now owns 4,902 shares of the company’s stock valued at $1,408,000 after acquiring an additional 247 shares during the period. 80.50% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms have commented on PEN. Truist Financial decreased their price target on Penumbra to $180.00 in a report on Friday, July 22nd. Wells Fargo & Company reduced their target price on Penumbra from $321.00 to $265.00 in a report on Wednesday, May 4th. Canaccord Genuity Group reduced their target price on Penumbra from $244.00 to $189.00 and set a “buy” rating on the stock in a report on Friday. William Blair reaffirmed an “outperform” rating on shares of Penumbra in a report on Tuesday, May 3rd. Finally, TheStreet lowered Penumbra from a “c-” rating to a “d+” rating in a research report on Tuesday, July 12th. One analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $218.78.
Penumbra Stock Performance
Shares of NYSE:PEN opened at $166.83 on Friday. The company has a market capitalization of $6.29 billion, a price-to-earnings ratio of -320.82 and a beta of 0.73. Penumbra, Inc. has a 52 week low of $114.86 and a 52 week high of $293.20. The company has a quick ratio of 3.20, a current ratio of 5.31 and a debt-to-equity ratio of 0.03. The firm has a 50 day moving average of $132.06 and a 200 day moving average of $174.36.
Penumbra (NYSE:PEN – Get Rating) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.07. The company had revenue of $208.30 million during the quarter, compared to the consensus estimate of $206.24 million. Penumbra had a negative net margin of 2.40% and a positive return on equity of 1.00%. Penumbra’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.21 earnings per share. On average, sell-side analysts predict that Penumbra, Inc. will post 0.23 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, Director Thomas Wilder sold 248 shares of the business’s stock in a transaction that occurred on Tuesday, July 5th. The shares were sold at an average price of $123.64, for a total value of $30,662.72. Following the completion of the transaction, the director now owns 462 shares of the company’s stock, valued at $57,121.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 451 shares of company stock valued at $57,968 over the last 90 days. Corporate insiders own 5.50% of the company’s stock.
Penumbra Company Profile
Penumbra, Inc designs, develops, manufactures, and markets medical devices in the United States and internationally. The company offers aspiration based thrombectomy systems and accessory devices, including revascularization device for mechanical thrombectomy, such as Penumbra System under the Penumbra RED, JET, ACE, 3D Revascularization Device, and Penumbra ENGINE brands, as well as components and accessories; neurovascular embolization coiling systems to treat patients with various sizes of aneurysms and other neurovascular lesions under the Penumbra Coil 400, POD400, PAC400, and Penumbra SMART Coil brand names; and neurovascular access systems designed to provide intracranial access for use in a range of neurovascular therapies under the Neuron, Neuron MAX, Select, BENCHMARK, BMX96, DDC, and PX SLIM brands.
Further Reading
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