Teacher Retirement System of Texas Buys 6,265 Shares of Penumbra, Inc. (NYSE:PEN)

Teacher Retirement System of Texas raised its stake in shares of Penumbra, Inc. (NYSE:PEN) by 388.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 7,876 shares of the company’s stock after buying an additional 6,265 shares during the quarter. Teacher Retirement System of Texas’ holdings in Penumbra were worth $1,870,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in PEN. China Universal Asset Management Co. Ltd. purchased a new position in shares of Penumbra in the 4th quarter worth about $573,000. State Street Corp increased its stake in Penumbra by 0.3% during 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 in the last quarter. E. Ohman J or Asset Management AB raised its holdings in Penumbra by 10.4% in the fourth quarter. E. Ohman J or Asset Management AB now owns 21,312 shares of the company’s stock worth $5,061,000 after buying an additional 2,000 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Penumbra by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 271,574 shares of the company’s stock worth $64,493,000 after buying an additional 3,807 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Penumbra by 1.7% during the third quarter. Geode Capital Management LLC now owns 655,572 shares of the company’s stock valued at $127,417,000 after buying an additional 11,257 shares during the last quarter. 88.88% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PEN. Wells Fargo & Company boosted their price objective on shares of Penumbra from $275.00 to $305.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. StockNews.com cut Penumbra from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Oppenheimer began coverage on Penumbra in a research report on Tuesday, December 17th. They set an “outperform” rating and a $275.00 price objective on the stock. Citigroup boosted their target price on Penumbra from $220.00 to $245.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 11th. Finally, Bank of America initiated coverage on shares of Penumbra in a report on Friday, March 14th. They set a “buy” rating and a $320.00 price target on the stock. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $294.47.

Penumbra Stock Performance

Shares of NYSE PEN opened at $268.89 on Friday. Penumbra, Inc. has a 12-month low of $148.00 and a 12-month high of $310.00. The firm has a market capitalization of $10.36 billion, a price-to-earnings ratio of 790.84, a price-to-earnings-growth ratio of 2.83 and a beta of 0.51. The company has a current ratio of 6.01, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02. The firm has a 50 day moving average of $274.49 and a 200 day moving average of $242.13.

Penumbra (NYSE:PEN) last issued its quarterly earnings data on Tuesday, February 18th. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.09. The firm had revenue of $315.52 million during the quarter, compared to the consensus estimate of $311.63 million. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. On average, research analysts anticipate that Penumbra, Inc. will post 3.67 earnings per share for the current year.

Insider Activity

In related news, Director Harpreet Grewal sold 167 shares of the stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $241.28, for a total value of $40,293.76. Following the completion of the transaction, the director now owns 8,530 shares of the company’s stock, valued at approximately $2,058,118.40. This trade represents a 1.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Lambert Shiu sold 501 shares of Penumbra stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $282.88, for a total value of $141,722.88. Following the completion of the transaction, the chief accounting officer now owns 32,969 shares of the company’s stock, valued at approximately $9,326,270.72. This trade represents a 1.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 93,518 shares of company stock worth $26,400,219 over the last ninety days. Corporate insiders own 5.00% of the company’s stock.

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.