Illinois Municipal Retirement Fund Has $2.15 Million Holdings in Penumbra, Inc. (NYSE:PEN)

Illinois Municipal Retirement Fund decreased its stake in Penumbra, Inc. (NYSE:PEN - Free Report) by 25.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,025 shares of the company's stock after selling 2,768 shares during the quarter. Illinois Municipal Retirement Fund's holdings in Penumbra were worth $2,146,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of Penumbra in the 4th quarter valued at about $54,396,000. T. Rowe Price Investment Management Inc. boosted its stake in Penumbra by 47.4% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 707,061 shares of the company's stock worth $167,913,000 after acquiring an additional 227,506 shares during the last quarter. GAMMA Investing LLC grew its holdings in Penumbra by 42,409.9% during the first quarter. GAMMA Investing LLC now owns 189,594 shares of the company's stock valued at $50,699,000 after purchasing an additional 189,148 shares during the period. Adage Capital Partners GP L.L.C. bought a new stake in Penumbra in the fourth quarter valued at approximately $23,866,000. Finally, Baird Financial Group Inc. raised its holdings in Penumbra by 43.9% in the fourth quarter. Baird Financial Group Inc. now owns 280,198 shares of the company's stock worth $66,541,000 after purchasing an additional 85,542 shares during the period. Institutional investors and hedge funds own 88.88% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Bank of America started coverage on shares of Penumbra in a report on Friday, March 14th. They issued a "buy" rating and a $320.00 price target for the company. Stifel Nicolaus set a $318.00 target price on Penumbra and gave the company a "buy" rating in a research note on Thursday, April 24th. Wall Street Zen upgraded shares of Penumbra from a "buy" rating to a "strong-buy" rating in a research note on Saturday, June 14th. Truist Financial boosted their price target on Penumbra from $315.00 to $330.00 and gave the stock a "buy" rating in a research report on Thursday, April 24th. Finally, Royal Bank Of Canada raised their price objective on Penumbra from $315.00 to $330.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $302.40.

Insider Activity

In related news, Director Thomas Wilder sold 360 shares of the firm's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $266.93, for a total transaction of $96,094.80. Following the sale, the director now owns 4,692 shares of the company's stock, valued at $1,252,435.56. This trade represents a 7.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Adam Elsesser sold 16,650 shares of the company's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $289.37, for a total value of $4,818,010.50. Following the completion of the transaction, the chief executive officer now directly owns 75,237 shares of the company's stock, valued at approximately $21,771,330.69. The trade was a 18.12% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 131,735 shares of company stock worth $36,349,811. Corporate insiders own 5.00% of the company's stock.

Penumbra Trading Up 1.0%

PEN stock opened at $256.11 on Monday. Penumbra, Inc. has a 52 week low of $148.00 and a 52 week high of $310.00. The company has a market capitalization of $9.92 billion, a PE ratio of 241.62, a price-to-earnings-growth ratio of 2.28 and a beta of 0.50. The company's 50-day simple moving average is $272.45 and its 200 day simple moving average is $268.18. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.68 and a current ratio of 6.30.

Penumbra (NYSE:PEN - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $324.14 million for the quarter, compared to analysts' expectations of $315.72 million. Penumbra had a net margin of 3.41% and a return on equity of 11.14%. The firm's quarterly revenue was up 16.3% compared to the same quarter last year. During the same period last year, the firm posted $0.41 earnings per share. As a group, sell-side analysts anticipate that Penumbra, Inc. will post 3.67 earnings per share for the current year.

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.

Want to see what other hedge funds are holding PEN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Penumbra, Inc. (NYSE:PEN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.