Teacher Retirement System of Texas Has $2.88 Million Stock Holdings in Penumbra, Inc. (NYSE:PEN)

Teacher Retirement System of Texas increased its stake in shares of Penumbra, Inc. (NYSE:PEN - Free Report) by 36.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,773 shares of the company's stock after acquiring 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.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC raised its holdings in shares of Penumbra by 59.0% during the first quarter. GAMMA Investing LLC now owns 709 shares of the company's stock worth $190,000 after acquiring an additional 263 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Penumbra by 1.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 271,574 shares of the company's stock valued at $64,493,000 after buying an additional 3,807 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in Penumbra in the 4th quarter valued at $3,553,000. HighTower Advisors LLC increased its stake in Penumbra by 3.2% in the 4th quarter. HighTower Advisors LLC now owns 5,980 shares of the company's stock valued at $1,420,000 after buying an additional 188 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its stake in Penumbra by 3.7% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 2,867 shares of the company's stock valued at $681,000 after buying an additional 101 shares during the last quarter. 88.88% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PEN has been the topic of several recent research reports. Wall Street Zen upgraded shares of Penumbra from a "buy" rating to a "strong-buy" rating in a research note on Saturday, June 14th. Wells Fargo & Company lifted 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. Truist Financial lifted their target price on shares of Penumbra from $315.00 to $330.00 and gave the stock a "buy" rating in a report on Thursday, April 24th. BTIG Research reaffirmed a "buy" rating on shares of Penumbra in a report on Thursday, April 24th. Finally, Stifel Nicolaus set a $318.00 price objective on shares of Penumbra and gave the company a "buy" rating in a report on Thursday, April 24th. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $305.07.

Insider Activity

In related news, EVP Johanna Roberts sold 900 shares of the company's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $298.55, for a total transaction of $268,695.00. Following the completion of the transaction, the executive vice president directly owned 65,314 shares in the company, valued at $19,499,494.70. This represents a 1.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Maggie Yuen sold 2,000 shares of the company's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $299.01, for a total transaction of $598,020.00. Following 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 have sold a total of 114,810 shares of company stock valued at $31,734,215 over the last quarter. 4.20% of the stock is owned by corporate insiders.

Penumbra Price Performance

Shares of NYSE:PEN traded down $0.53 during midday trading on Thursday, hitting $243.86. The stock had a trading volume of 53,104 shares, compared to its average volume of 452,717. The company's 50-day moving average price is $266.21 and its 200-day moving average price is $268.16. The company has a market capitalization of $9.44 billion, a P/E ratio of 230.22, a price-to-earnings-growth ratio of 2.21 and a beta of 0.47. 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 fifty-two week low of $148.00 and a fifty-two week high of $310.00.

Penumbra (NYSE:PEN - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The company reported $0.83 EPS 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 analysts' expectations of $315.72 million. Penumbra had a net margin of 3.41% and a return on equity of 11.14%. The business's revenue for the quarter was up 16.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.41 EPS. As a group, equities research analysts predict that Penumbra, Inc. will post 3.67 EPS for the current fiscal 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.