Teacher Retirement System of Texas Increases Stock Position in Penumbra, Inc. (NYSE:PEN)

Teacher Retirement System of Texas lifted its position in Penumbra, Inc. (NYSE:PEN - Free Report) by 36.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,773 shares of the company's stock after buying an additional 2,897 shares during the period. Teacher Retirement System of Texas' holdings in Penumbra were worth $2,881,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PEN. Jones Financial Companies Lllp lifted its stake in shares of Penumbra by 25.0% in the fourth quarter. Jones Financial Companies Lllp now owns 375 shares of the company's stock worth $89,000 after buying an additional 75 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Penumbra by 1.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 271,574 shares of the company's stock valued at $64,493,000 after purchasing an additional 3,807 shares during the last quarter. Atria Investments Inc purchased a new position in shares of Penumbra during the fourth quarter valued at approximately $221,000. M&T Bank Corp increased its holdings in Penumbra by 8.0% during the fourth quarter. M&T Bank Corp now owns 1,560 shares of the company's stock valued at $370,000 after buying an additional 115 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in Penumbra during the fourth quarter valued at approximately $3,553,000. Institutional investors own 88.88% of the company's stock.

Insider Activity at Penumbra

In other Penumbra news, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $252.70, for a total transaction of $151,620.00. Following the completion of the sale, the executive vice president directly owned 66,057 shares in the company, valued at approximately $16,692,603.90. The trade was a 0.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Maggie Yuen sold 2,000 shares of the business's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $299.01, for a total transaction of $598,020.00. Following the completion of the transaction, the chief financial officer owned 13,957 shares of the company's stock, valued at approximately $4,173,282.57. This represents a 12.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 114,810 shares of company stock worth $31,734,215 in the last quarter. 4.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Stifel Nicolaus set a $318.00 price objective on shares of Penumbra and gave the stock a "buy" rating in a research note on Thursday, April 24th. Wells Fargo & Company increased their price objective on shares of Penumbra from $305.00 to $315.00 and gave the company an "overweight" rating in a research report on Thursday, April 24th. Royal Bank Of Canada lifted their price target on shares of Penumbra from $315.00 to $330.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Robert W. Baird upped their price objective on Penumbra from $316.00 to $325.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Finally, UBS Group reaffirmed a "buy" rating and issued a $330.00 price objective (up previously from $320.00) on shares of Penumbra in a research report on Thursday, April 24th. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $305.07.

Penumbra Stock Down 2.7%

Shares of Penumbra stock traded down $6.50 on Friday, reaching $237.37. The stock had a trading volume of 377,311 shares, compared to its average volume of 454,153. The company has a 50 day moving average price of $265.25 and a 200 day moving average price of $268.18. The company has a quick ratio of 3.68, a current ratio of 6.30 and a debt-to-equity ratio of 0.02. Penumbra, Inc. has a 1 year low of $148.00 and a 1 year high of $310.00. The stock has a market capitalization of $9.19 billion, a P/E ratio of 223.93, a P/E/G ratio of 2.18 and a beta of 0.47.

Penumbra (NYSE:PEN - Get Free Report) last released its earnings results on Wednesday, April 23rd. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.17. The company 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%. Penumbra's revenue was up 16.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.41 EPS. As a group, equities research analysts forecast that Penumbra, Inc. will post 3.67 EPS 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.