California State Teachers Retirement System Increases Stock Position in Penumbra, Inc. $PEN

Key Points

• California State Teachers Retirement System dramatically increased its Penumbra position by 31,694.6% in the second quarter, acquiring 13.6 million additional shares. It now owns 13.67 million shares, or 34.7% of the company, valued at approximately $4.32 billion.
• Penumbra shares opened at $319.71, with a $12.59 billion market capitalization and a 52-week range of $221.26 to $362.41. The company’s latest revenue rose 14.9% year over year to $390.05 million, though quarterly EPS of $0.88 missed the $1.16 consensus estimate.
• Analysts remain generally cautious, with three Buy ratings and fourteen Hold ratings, producing a consensus rating of Hold and an average price target of $367.07.

California State Teachers Retirement System grew its holdings in shares of Penumbra, Inc. (NYSE:PEN - Free Report) by 31,694.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,667,555 shares of the company's stock after buying an additional 13,624,568 shares during the period. California State Teachers Retirement System owned 34.70% of Penumbra worth $4,315,530,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PEN. Hsbc Holdings PLC increased its stake in shares of Penumbra by 2.3% in the 4th quarter. Hsbc Holdings PLC now owns 1,527 shares of the company's stock worth $475,000 after acquiring an additional 35 shares in the last quarter. Swiss Life Asset Management Ltd boosted its stake in Penumbra by 2.3% during the fourth quarter. Swiss Life Asset Management Ltd now owns 1,728 shares of the company's stock worth $537,000 after acquiring an additional 39 shares in the last quarter. UMB Bank n.a. grew its holdings in Penumbra by 11.3% in the fourth quarter. UMB Bank n.a. now owns 442 shares of the company's stock worth $137,000 after purchasing an additional 45 shares during the period. Coldstream Capital Management Inc. grew its holdings in Penumbra by 6.0% in the fourth quarter. Coldstream Capital Management Inc. now owns 843 shares of the company's stock worth $262,000 after purchasing an additional 48 shares during the period. Finally, Parallel Advisors LLC increased its stake in shares of Penumbra by 26.9% during the first quarter. Parallel Advisors LLC now owns 288 shares of the company's stock valued at $95,000 after purchasing an additional 61 shares in the last quarter. 88.88% of the stock is owned by hedge funds and other institutional investors.

Penumbra Stock Up 0.1%

Shares of Penumbra stock opened at $319.71 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.86 and a current ratio of 5.75. The stock has a market capitalization of $12.59 billion, a PE ratio of 78.55, a price-to-earnings-growth ratio of 2.19 and a beta of 0.70. Penumbra, Inc. has a 52-week low of $221.26 and a 52-week high of $362.41. The company has a 50-day simple moving average of $321.53 and a two-hundred day simple moving average of $325.76.

Penumbra (NYSE:PEN - Get Free Report) last issued its earnings results on Thursday, July 30th. The company reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.16 by ($0.28). The firm had revenue of $390.05 million during the quarter, compared to the consensus estimate of $389.64 million. Penumbra had a return on equity of 10.50% and a net margin of 10.67%.The company's quarterly revenue was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.86 EPS. On average, analysts anticipate that Penumbra, Inc. will post 4.96 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Weiss Ratings reiterated a "hold (c)" rating on shares of Penumbra in a report on Friday, July 17th. Royal Bank Of Canada restated a "sector perform" rating and issued a $374.00 price target on shares of Penumbra in a research note on Thursday, June 11th. Zacks Research raised Penumbra from a "strong sell" rating to a "hold" rating in a research report on Monday, August 24th. Finally, Evercore reiterated an "outperform" rating and set a $320.00 price objective on shares of Penumbra in a research note on Monday, July 6th. Three equities research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $367.07.

Penumbra Company 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.

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