Penumbra, Inc. (NYSE:PEN) Shares Purchased by Employees Retirement System of Texas

Employees Retirement System of Texas lifted its stake in Penumbra, Inc. (NYSE:PEN - Free Report) by 31.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,273 shares of the company's stock after purchasing an additional 1,274 shares during the quarter. Employees Retirement System of Texas' holdings in Penumbra were worth $1,252,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PEN. RTW Investments LP increased its stake in shares of Penumbra by 8.4% in the 4th quarter. RTW Investments LP now owns 862,450 shares of the company's stock worth $204,815,000 after acquiring an additional 66,700 shares during the last quarter. Baillie Gifford & Co. grew its holdings in shares of Penumbra by 23.4% in the fourth quarter. Baillie Gifford & Co. now owns 730,233 shares of the company's stock valued at $173,416,000 after purchasing an additional 138,387 shares during the period. T. Rowe Price Investment Management Inc. increased its position in Penumbra by 47.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 707,061 shares of the company's stock worth $167,913,000 after purchasing an additional 227,506 shares during the last quarter. Bank of America Corp DE raised its stake in Penumbra by 19.9% during the fourth quarter. Bank of America Corp DE now owns 346,528 shares of the company's stock worth $82,293,000 after purchasing an additional 57,421 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Penumbra by 23.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 323,964 shares of the company's stock valued at $76,937,000 after purchasing an additional 60,764 shares during the last quarter. Institutional investors and hedge funds own 88.88% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on PEN shares. Wells Fargo & Company raised their price target on shares of Penumbra from $305.00 to $315.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. Wall Street Zen cut Penumbra from a "strong-buy" rating to a "buy" rating in a research note on Saturday, May 24th. BTIG Research restated a "buy" rating on shares of Penumbra in a research report on Thursday, April 24th. Morgan Stanley increased their price target on Penumbra from $240.00 to $260.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 19th. Finally, Needham & Company LLC restated a "hold" rating on shares of Penumbra in a report on Wednesday, February 19th. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $302.40.

Penumbra Stock Up 0.7%

PEN stock traded up $1.77 during midday trading on Friday, hitting $267.30. The company's stock had a trading volume of 503,748 shares, compared to its average volume of 446,230. Penumbra, Inc. has a 52-week low of $148.00 and a 52-week high of $310.00. The firm has a 50-day simple moving average of $278.17 and a 200-day simple moving average of $266.03. The company has a quick ratio of 3.25, a current ratio of 6.01 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $10.35 billion, a P/E ratio of 786.18, a PEG ratio of 2.83 and a beta of 0.53.

Penumbra (NYSE:PEN - Get Free Report) last released its earnings results on Wednesday, April 23rd. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.66 by $0.17. Penumbra had a return on equity of 9.74% and a net margin of 1.17%. The firm had revenue of $324.14 million during the quarter, compared to analyst estimates of $315.72 million. During the same period last year, the business posted $0.41 earnings per share. Penumbra's revenue was up 16.3% compared to the same quarter last year. As a group, equities analysts forecast that Penumbra, Inc. will post 3.67 EPS for the current year.

Insider Activity

In other Penumbra news, CEO Adam Elsesser sold 61,600 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $283.59, for a total value of $17,469,144.00. Following the sale, the chief executive officer now directly owns 16,376 shares of the company's stock, valued at approximately $4,644,069.84. This represents a 79.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Lambert Shiu sold 501 shares of the firm's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $282.88, for a total transaction of $141,722.88. Following the completion of the sale, the chief accounting officer now owns 32,969 shares in the company, valued at $9,326,270.72. The trade was a 1.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 192,996 shares of company stock worth $54,574,678. 5.00% of the stock is currently owned by company insiders.

About Penumbra

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.