Teachers Retirement System of The State of Kentucky Sells 1,787 Shares of Penumbra, Inc. $PEN

Teachers Retirement System of The State of Kentucky lessened its stake in shares of Penumbra, Inc. (NYSE:PEN) by 4.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 38,083 shares of the company’s stock after selling 1,787 shares during the quarter. Teachers Retirement System of The State of Kentucky owned about 0.10% of Penumbra worth $11,840,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Concurrent Investment Advisors LLC raised its holdings in Penumbra by 5.7% in the 4th quarter. Concurrent Investment Advisors LLC now owns 1,665 shares of the company’s stock valued at $518,000 after acquiring an additional 90 shares during the period. Calamos Advisors LLC boosted its holdings in shares of Penumbra by 21.5% during the fourth quarter. Calamos Advisors LLC now owns 4,664 shares of the company’s stock worth $1,450,000 after acquiring an additional 826 shares during the period. M&T Bank Corp boosted its holdings in shares of Penumbra by 4,733.1% during the fourth quarter. M&T Bank Corp now owns 38,955 shares of the company’s stock worth $12,111,000 after acquiring an additional 38,149 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Penumbra by 6.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,729 shares of the company’s stock valued at $2,403,000 after purchasing an additional 443 shares during the last quarter. Finally, Seeds Investor LLC bought a new position in shares of Penumbra during the fourth quarter worth approximately $356,000. Institutional investors and hedge funds own 88.88% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PEN. Wall Street Zen cut Penumbra from a “buy” rating to a “hold” rating in a report on Saturday, January 17th. Citigroup lowered Penumbra from a “buy” rating to a “neutral” rating and upped their price objective for the company from $350.00 to $374.00 in a report on Thursday, January 15th. William Blair cut Penumbra from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 15th. UBS Group reissued a “neutral” rating and set a $374.00 target price on shares of Penumbra in a report on Thursday, February 26th. Finally, Canaccord Genuity Group downgraded shares of Penumbra from a “buy” rating to a “hold” rating and upped their price target for the company from $359.00 to $374.00 in a research note on Tuesday, January 20th. Three investment analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. Based on data from MarketBeat, Penumbra currently has a consensus rating of “Hold” and a consensus target price of $364.60.

Penumbra Trading Down 0.0%

Shares of PEN stock opened at $329.83 on Monday. The stock has a market cap of $12.94 billion, a P/E ratio of 72.97, a price-to-earnings-growth ratio of 2.02 and a beta of 0.84. Penumbra, Inc. has a 1 year low of $221.26 and a 1 year high of $362.41. The company has a current ratio of 6.64, a quick ratio of 4.29 and a debt-to-equity ratio of 0.01. The stock has a 50 day simple moving average of $335.26 and a 200 day simple moving average of $312.57.

Penumbra (NYSE:PEN) last posted its quarterly earnings data on Wednesday, February 25th. The company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of $1.12 by ($1.49). The company had revenue of $385.39 million for the quarter, compared to the consensus estimate of $367.18 million. Penumbra had a return on equity of 11.41% and a net margin of 12.66%.Penumbra’s revenue was up 22.2% on a year-over-year basis. During the same quarter last year, the business earned $0.97 EPS. On average, research analysts predict that Penumbra, Inc. will post 5.08 earnings per share for the current fiscal year.

Insider Transactions at Penumbra

In related news, CFO Maggie Yuen sold 2,432 shares of the business’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $342.30, for a total value of $832,473.60. Following the completion of the transaction, the chief financial officer owned 18,353 shares of the company’s stock, valued at $6,282,231.90. The trade was a 11.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Harpreet Grewal sold 100 shares of the company’s stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $328.22, for a total transaction of $32,822.00. Following the sale, the director directly owned 8,719 shares of the company’s stock, valued at $2,861,750.18. This represents a 1.13% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.00% of the stock is owned by insiders.

Penumbra Profile

Penumbra, Inc is a global healthcare company specializing in the development and manufacture of innovative medical devices that address neurovascular and peripheral vascular conditions. The company focuses on products designed to improve patient outcomes in acute ischemic stroke, aneurysm treatment and peripheral thrombectomy. Penumbra’s technologies are used by interventional neuroradiologists, neurosurgeons and interventional cardiologists in hospitals and clinics around the world.

At the core of Penumbra’s portfolio is its mechanical thrombectomy platform, which includes aspiration catheters and accessory devices engineered to remove blood clots in acute stroke cases.