Penumbra, Inc. (NYSE:PEN) Shares Purchased by New York State Common Retirement Fund

New York State Common Retirement Fund boosted its stake in shares of Penumbra, Inc. (NYSE:PEN - Free Report) by 18.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 72,333 shares of the company's stock after purchasing an additional 11,143 shares during the period. New York State Common Retirement Fund owned approximately 0.19% of Penumbra worth $19,343,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. RTW Investments LP grew its position in Penumbra by 8.4% during the 4th quarter. RTW Investments LP now owns 862,450 shares of the company's stock worth $204,815,000 after purchasing an additional 66,700 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its position 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 purchasing an additional 227,506 shares during the last quarter. Bank of America Corp DE grew its position in Penumbra by 19.9% during the 4th 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 last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of 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 acquiring an additional 60,764 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Penumbra by 7.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 321,046 shares of the company's stock valued at $87,045,000 after acquiring an additional 21,649 shares during the last quarter. Hedge funds and other institutional investors own 88.88% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Wall Street Zen raised shares of Penumbra from a "buy" rating to a "strong-buy" rating in a report on Saturday, June 14th. Citigroup dropped their price objective on shares of Penumbra from $320.00 to $285.00 and set a "neutral" rating on the stock in a report on Wednesday, July 9th. Royal Bank Of Canada upped their price objective on shares of Penumbra from $315.00 to $330.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Truist Financial upped their price objective on shares of Penumbra from $315.00 to $330.00 and gave the company a "buy" rating in a report on Thursday, April 24th. Finally, Wells Fargo & Company upped their price objective on shares of Penumbra from $305.00 to $315.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. Three investment 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 company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $305.07.

Penumbra Stock Performance

PEN remained flat at $230.10 during midday trading on Friday. 404,989 shares of the company's stock traded hands, compared to its average volume of 454,345. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.30 and a quick ratio of 3.68. The stock has a market cap of $8.91 billion, a P/E ratio of 217.08, a price-to-earnings-growth ratio of 2.09 and a beta of 0.47. Penumbra, Inc. has a fifty-two week low of $148.00 and a fifty-two week high of $310.00. The stock's 50-day moving average price is $259.62 and its 200 day moving average price is $268.02.

Penumbra (NYSE:PEN - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.17. The business had revenue of $324.14 million for the quarter, compared to the consensus estimate of $315.72 million. Penumbra had a net margin of 3.41% and a return on equity of 11.14%. The company's 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. Equities research analysts anticipate that Penumbra, Inc. will post 3.67 earnings per share for the current year.

Insider Activity at Penumbra

In other Penumbra news, Director Arani Bose sold 12,000 shares of the stock in a transaction on Friday, April 25th. The shares were sold at an average price of $298.73, for a total transaction of $3,584,760.00. Following the transaction, the director directly owned 302,819 shares of the company's stock, valued at $90,461,119.87. This trade represents a 3.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Adam Elsesser sold 16,650 shares of the stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $289.37, for a total transaction of $4,818,010.50. Following the transaction, the chief executive officer directly owned 75,237 shares in the company, valued at approximately $21,771,330.69. The trade was a 18.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 114,185 shares of company stock valued at $31,073,762. 4.20% 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.