Illinois Municipal Retirement Fund Sells 2,720 Shares of Penumbra, Inc. $PEN

Illinois Municipal Retirement Fund decreased its holdings in Penumbra, Inc. (NYSE:PEN) by 30.9% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,076 shares of the company’s stock after selling 2,720 shares during the period. Illinois Municipal Retirement Fund’s holdings in Penumbra were worth $1,995,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. SG Americas Securities LLC lifted its stake in shares of Penumbra by 144.4% in the 4th quarter. SG Americas Securities LLC now owns 11,111 shares of the company’s stock valued at $3,455,000 after acquiring an additional 6,564 shares during the last quarter. Stephens Investment Management Group LLC bought a new position in Penumbra during the 4th quarter worth approximately $37,563,000. New York Life Investment Management LLC bought a new position in Penumbra during the 4th quarter worth approximately $999,000. Simplify Asset Management Inc. increased its stake in Penumbra by 89.7% in the 4th quarter. Simplify Asset Management Inc. now owns 15,827 shares of the company’s stock worth $4,921,000 after purchasing an additional 7,485 shares during the period. Finally, SBI Okasan Asset Management Co.Ltd. purchased a new position in Penumbra in the 4th quarter worth approximately $2,091,000. Institutional investors own 88.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Citigroup dropped their price objective on Penumbra from $374.00 to $350.00 and set a “neutral” rating for the company in a research note on Thursday, May 7th. Wall Street Zen raised shares of Penumbra to a “hold” rating in a research note on Saturday, May 9th. Zacks Research downgraded shares of Penumbra from a “hold” rating to a “strong sell” rating in a research note on Monday, June 29th. Evercore reiterated an “outperform” rating and set a $320.00 price target on shares of Penumbra in a report on Monday, July 6th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and set a $374.00 price target on shares of Penumbra in a research report on Thursday, June 11th. Three equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $360.33.

Penumbra Stock Down 0.0%

PEN stock opened at $318.18 on Tuesday. The business has a 50 day moving average of $319.87 and a 200 day moving average of $329.86. The firm has a market cap of $12.51 billion, a PE ratio of 73.31, a price-to-earnings-growth ratio of 1.97 and a beta of 0.70. Penumbra, Inc. has a twelve month low of $221.26 and a twelve month high of $362.41. The company has a quick ratio of 3.95, a current ratio of 6.02 and a debt-to-equity ratio of 0.01.

Penumbra (NYSE:PEN) last released its earnings results on Wednesday, May 6th. The company reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.24). Penumbra had a return on equity of 10.87% and a net margin of 11.76%.The company had revenue of $374.76 million during the quarter, compared to analysts’ expectations of $370.47 million. During the same period in the prior year, the company posted $0.83 earnings per share. The company’s revenue was up 15.6% on a year-over-year basis. On average, research analysts forecast that Penumbra, Inc. will post 5.04 EPS for the current fiscal year.

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.