Public Employees Retirement System of Ohio Raises Holdings in Penumbra, Inc. (NYSE:PEN)

Public Employees Retirement System of Ohio boosted its position in Penumbra, Inc. (NYSE:PEN - Free Report) by 6.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,399 shares of the company's stock after buying an additional 1,316 shares during the quarter. Public Employees Retirement System of Ohio owned approximately 0.06% of Penumbra worth $5,319,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank purchased a new stake in shares of Penumbra during the fourth quarter valued at approximately $54,396,000. T. Rowe Price Investment Management Inc. lifted its stake in Penumbra by 47.4% in the fourth 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 period. Baillie Gifford & Co. lifted its stake in Penumbra by 23.4% in the fourth quarter. Baillie Gifford & Co. now owns 730,233 shares of the company's stock worth $173,416,000 after acquiring an additional 138,387 shares during the period. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Penumbra in the 4th quarter worth about $23,866,000. Finally, Baird Financial Group Inc. lifted 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 buying an additional 85,542 shares during the period. Hedge funds and other institutional investors own 88.88% of the company's stock.

Penumbra Trading Down 3.9%

NYSE:PEN traded down $10.40 during midday trading on Monday, hitting $256.57. The stock had a trading volume of 693,820 shares, compared to its average volume of 447,262. Penumbra, Inc. has a one year low of $148.00 and a one year high of $310.00. 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 stock has a 50-day moving average of $277.80 and a 200 day moving average of $266.60. The company has a market capitalization of $9.94 billion, a price-to-earnings ratio of 754.62, a PEG ratio of 2.83 and a beta of 0.53.

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

Insider Buying and Selling

In other Penumbra news, CEO Adam Elsesser sold 16,300 shares of the stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $267.91, for a total transaction of $4,366,933.00. Following the transaction, the chief executive officer now directly owns 98,289 shares of the company's stock, valued at $26,332,605.99. This trade represents a 14.22% 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, EVP Johanna Roberts sold 600 shares of the company's stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $300.01, for a total transaction of $180,006.00. Following the transaction, the executive vice president now owns 66,159 shares of the company's stock, valued at approximately $19,848,361.59. This trade represents a 0.90% decrease in their position. The disclosure for this sale can be found here. Insiders sold 190,346 shares of company stock worth $53,815,946 in the last three months. Corporate insiders own 4.20% of the company's stock.

Analyst Upgrades and Downgrades

PEN has been the subject of a number of research analyst reports. JPMorgan Chase & Co. raised their target price on Penumbra from $230.00 to $285.00 and gave the company an "overweight" rating in a research note on Wednesday, February 19th. UBS Group reaffirmed a "buy" rating and issued a $330.00 price target (up previously from $320.00) on shares of Penumbra in a research report on Thursday, April 24th. Wall Street Zen cut shares of Penumbra from a "strong-buy" rating to a "buy" rating in a report on Saturday, May 24th. Wells Fargo & Company lifted their target price on shares of Penumbra from $305.00 to $315.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. Finally, Robert W. Baird boosted their price objective on shares of Penumbra from $316.00 to $325.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $302.40.

Penumbra Profile

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.