California State Teachers Retirement System Purchases 7,800 Shares of Penumbra, Inc. $PEN

Key Points

• California State Teachers Retirement System increased its Penumbra stake by 22.2%, purchasing 7,800 shares to own 42,987 shares valued at approximately $14.1 million. Institutional investors collectively own 88.88% of the company.
• Penumbra reported quarterly revenue of $390.05 million, up 14.9% year over year and slightly above estimates, but earnings per share of $0.88 missed the $1.16 consensus estimate.
• Shares opened at $321.40, while analysts maintained a consensus “Hold” rating with an average price target of $367.07; ratings included three Buys, thirteen Holds and one Sell.

California State Teachers Retirement System boosted its position in Penumbra, Inc. (NYSE:PEN - Free Report) by 22.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,987 shares of the company's stock after purchasing an additional 7,800 shares during the period. California State Teachers Retirement System owned 0.11% of Penumbra worth $14,116,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Empyrean Capital Partners LP bought a new stake in shares of Penumbra during the first quarter worth about $27,911,000. Quantinno Capital Management LP increased its stake in shares of Penumbra by 6.7% in the first quarter. Quantinno Capital Management LP now owns 13,641 shares of the company's stock valued at $4,480,000 after buying an additional 851 shares during the period. Whitebox Advisors LLC bought a new position in Penumbra in the 1st quarter valued at approximately $146,125,000. Polar Asset Management Partners Inc. bought a new position in Penumbra in the 1st quarter valued at approximately $2,299,000. Finally, SummitTX Capital L.P. acquired a new stake in Penumbra during the 1st quarter worth approximately $9,202,000. 88.88% of the stock is currently owned by institutional investors.

Penumbra Stock Up 0.1%

Penumbra stock opened at $321.40 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.86 and a current ratio of 5.75. Penumbra, Inc. has a 52-week low of $221.26 and a 52-week high of $362.41. The firm has a 50 day moving average price of $318.75 and a two-hundred day moving average price of $330.10. The firm has a market cap of $12.66 billion, a price-to-earnings ratio of 78.97, a PEG ratio of 1.99 and a beta of 0.70.

Penumbra (NYSE:PEN - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.88 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.16 by ($0.28). Penumbra had a return on equity of 10.50% and a net margin of 10.67%.The firm had revenue of $390.05 million during the quarter, compared to analyst estimates of $389.64 million. During the same quarter last year, the firm posted $0.86 EPS. The firm's revenue for the quarter was up 14.9% on a year-over-year basis. Equities analysts predict that Penumbra, Inc. will post 5.02 EPS for the current year.

Analysts Set New Price Targets

PEN has been the topic of a number of research reports. Royal Bank Of Canada reissued a "sector perform" rating and set a $374.00 target price on shares of Penumbra in a report on Thursday, June 11th. Zacks Research lowered shares of Penumbra from a "hold" rating to a "strong sell" rating in a report on Monday, June 29th. Wall Street Zen upgraded shares of Penumbra to a "hold" rating in a report on Saturday, May 9th. Evercore reissued an "outperform" rating and issued a $320.00 price objective on shares of Penumbra in a research note on Monday, July 6th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Penumbra in a report on Friday, July 17th. Three analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $367.07.

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.

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