Louisiana State Employees Retirement System Invests $3.74 Million in Penumbra, Inc. $PEN

Louisiana State Employees Retirement System bought a new position in Penumbra, Inc. (NYSE:PEN) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 11,400 shares of the company’s stock, valued at approximately $3,743,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Royal Bank of Canada increased its position in shares of Penumbra by 35.8% in the first quarter. Royal Bank of Canada now owns 19,332 shares of the company’s stock valued at $5,169,000 after acquiring an additional 5,092 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of Penumbra by 209.1% during the second quarter. EverSource Wealth Advisors LLC now owns 272 shares of the company’s stock worth $70,000 after purchasing an additional 184 shares during the period. Cerity Partners LLC boosted its holdings in shares of Penumbra by 22.3% during the second quarter. Cerity Partners LLC now owns 10,030 shares of the company’s stock worth $2,574,000 after purchasing an additional 1,829 shares during the period. California Public Employees Retirement System grew its stake in shares of Penumbra by 7.9% in the second quarter. California Public Employees Retirement System now owns 61,027 shares of the company’s stock worth $15,661,000 after purchasing an additional 4,491 shares during the last quarter. Finally, Daiwa Securities Group Inc. bought a new stake in shares of Penumbra in the second quarter worth about $1,137,000. 88.88% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on PEN. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $374.00 price target on shares of Penumbra in a research report on Thursday, June 11th. Wall Street Zen upgraded Penumbra to a “hold” rating in a research report on Saturday, May 9th. Citigroup reduced their target price on Penumbra from $374.00 to $350.00 and set a “neutral” rating on the stock in a research note on Thursday, May 7th. Finally, Evercore restated an “outperform” rating and set a $335.00 target price on shares of Penumbra in a report on Thursday, May 7th. Three research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $361.33.

Insider Activity

In other news, Director Harpreet Grewal sold 100 shares of the firm’s stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $328.22, for a total value of $32,822.00. Following the completion of the transaction, the director owned 8,719 shares in the company, valued at $2,861,750.18. This trade represents a 1.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 2.90% of the company’s stock.

Penumbra Price Performance

Shares of NYSE PEN opened at $316.94 on Friday. Penumbra, Inc. has a 1 year low of $221.26 and a 1 year high of $362.41. The stock has a market capitalization of $12.47 billion, a P/E ratio of 73.03, a P/E/G ratio of 1.96 and a beta of 0.71. The company’s 50-day moving average is $323.00 and its 200 day moving average is $328.94. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.02 and a quick ratio of 3.95.

Penumbra (NYSE:PEN) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.82 EPS for the quarter, missing the consensus estimate of $1.06 by ($0.24). The company had revenue of $374.76 million during the quarter, compared to analysts’ expectations of $370.47 million. Penumbra had a return on equity of 10.87% and a net margin of 11.76%.The business’s quarterly revenue was up 15.6% on a year-over-year basis. During the same quarter last year, the business earned $0.83 earnings per share. On average, sell-side analysts expect that Penumbra, Inc. will post 5.04 earnings per share for the current year.

About Penumbra

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.