Retirement Systems of Alabama Trims Stock Position in Penumbra, Inc. (NYSE:PEN)

Retirement Systems of Alabama trimmed its stake in Penumbra, Inc. (NYSE:PEN) by 1.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,187 shares of the company’s stock after selling 659 shares during the period. Retirement Systems of Alabama owned approximately 0.12% of Penumbra worth $9,169,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FMR LLC boosted its stake in Penumbra by 2.1% in the third quarter. FMR LLC now owns 5,896,396 shares of the company’s stock valued at $1,145,729,000 after acquiring an additional 121,465 shares in the last quarter. Champlain Investment Partners LLC lifted its holdings in shares of Penumbra by 20.6% in the 3rd quarter. Champlain Investment Partners LLC now owns 1,547,972 shares of the company’s stock valued at $300,786,000 after purchasing an additional 264,122 shares during the last quarter. State Street Corp boosted its position in shares of Penumbra by 0.3% in the 3rd quarter. State Street Corp now owns 1,236,671 shares of the company’s stock valued at $240,298,000 after purchasing an additional 3,863 shares during the period. RTW Investments LP grew its stake in Penumbra by 7.2% during the 3rd quarter. RTW Investments LP now owns 795,750 shares of the company’s stock worth $154,622,000 after buying an additional 53,645 shares during the last quarter. Finally, Janus Henderson Group PLC grew its stake in Penumbra by 128.1% during the 3rd quarter. Janus Henderson Group PLC now owns 668,873 shares of the company’s stock worth $129,967,000 after buying an additional 375,684 shares during the last quarter. 88.88% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on PEN shares. Truist Financial boosted their price objective on Penumbra from $200.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Piper Sandler upped their price target on shares of Penumbra from $235.00 to $250.00 and gave the company an “overweight” rating in a research report on Wednesday, November 20th. Leerink Partnrs raised shares of Penumbra to a “strong-buy” rating in a research report on Tuesday, September 3rd. BTIG Research lifted their price objective on shares of Penumbra from $232.00 to $270.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, Royal Bank of Canada increased their target price on shares of Penumbra from $205.00 to $222.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $252.42.

Penumbra Trading Up 0.7 %

NYSE PEN opened at $247.24 on Tuesday. The company has a quick ratio of 3.25, a current ratio of 5.82 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $9.49 billion, a P/E ratio of 287.49, a P/E/G ratio of 2.47 and a beta of 0.51. Penumbra, Inc. has a 52-week low of $148.00 and a 52-week high of $277.34. The firm has a 50-day moving average price of $228.47 and a 200 day moving average price of $202.28.

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

Insiders Place Their Bets

In related news, CEO Adam Elsesser sold 15,000 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $197.71, for a total transaction of $2,965,650.00. Following the sale, the chief executive officer now owns 882,582 shares of the company’s stock, valued at approximately $174,495,287.22. The trade was a 1.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Johanna Roberts sold 600 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $190.76, for a total transaction of $114,456.00. Following the completion of the transaction, the executive vice president now directly owns 60,488 shares of the company’s stock, valued at approximately $11,538,690.88. This trade represents a 0.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 49,418 shares of company stock worth $10,624,973. 5.00% of the stock is owned by corporate insiders.

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.