Oregon Public Employees Retirement Fund Reduces Holdings in Penumbra, Inc. (NYSE:PEN)

Oregon Public Employees Retirement Fund trimmed its position in shares of Penumbra, Inc. (NYSE:PEN) by 1.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,818 shares of the company’s stock after selling 100 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Penumbra were worth $1,857,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Los Angeles Capital Management LLC boosted its stake in Penumbra by 211.2% during the fourth quarter. Los Angeles Capital Management LLC now owns 30,582 shares of the company’s stock worth $7,263,000 after buying an additional 20,756 shares during the period. Bank of New York Mellon Corp boosted its stake in Penumbra by 0.6% during the fourth quarter. Bank of New York Mellon Corp now owns 294,620 shares of the company’s stock worth $69,966,000 after buying an additional 1,823 shares during the period. Olympiad Research LP purchased a new position in Penumbra during the fourth quarter worth $253,000. Ieq Capital LLC purchased a new position in Penumbra during the fourth quarter worth $1,815,000. Finally, CIBC Asset Management Inc boosted its stake in Penumbra by 5.4% during the fourth quarter. CIBC Asset Management Inc now owns 1,183 shares of the company’s stock worth $281,000 after buying an additional 61 shares during the period. 88.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Canaccord Genuity Group lifted their price objective on shares of Penumbra from $323.00 to $340.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. UBS Group lifted their target price on Penumbra from $305.00 to $320.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Citigroup lifted 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. BTIG Research lifted their target price on Penumbra from $232.00 to $270.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, Truist Financial lifted their target price on Penumbra from $285.00 to $325.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Four analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Penumbra presently has a consensus rating of “Moderate Buy” and an average target price of $292.64.

Penumbra Stock Performance

PEN stock opened at $285.36 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.01 and a quick ratio of 3.25. The business has a 50-day moving average price of $263.25 and a 200 day moving average price of $231.89. The company has a market capitalization of $10.99 billion, a P/E ratio of 839.29, a PEG ratio of 2.83 and a beta of 0.53. Penumbra, Inc. has a 1-year low of $148.00 and a 1-year high of $310.00.

Penumbra (NYSE:PEN) last released its quarterly earnings data on Tuesday, February 18th. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 9.74% and a net margin of 1.17%. As a group, equities research analysts forecast that Penumbra, Inc. will post 3.67 EPS for the current fiscal year.

Insiders Place Their Bets

In other Penumbra news, EVP Johanna Roberts sold 600 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $244.49, for a total value of $146,694.00. Following the completion of the transaction, the executive vice president now directly owns 63,444 shares in the company, valued at approximately $15,511,423.56. The trade was a 0.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Harpreet Grewal sold 167 shares of the business’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $241.28, for a total transaction of $40,293.76. Following the completion of the transaction, the director now owns 8,530 shares of the company’s stock, valued at $2,058,118.40. This represents a 1.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,421 shares of company stock worth $3,990,316. 5.00% of the stock is owned by corporate insiders.

Penumbra 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.