Teacher Retirement System of Texas Reduces Stake in Penumbra, Inc. $PEN

Key Points

• Teacher Retirement System of Texas cut its stake in Penumbra by 31% in Q4, selling 3,704 shares and ending the period with 8,245 shares valued at about $2.563 million.
• Penumbra missed Q4 EPS expectations, reporting ($0.37) versus $1.12 expected, even as revenue climbed 22.2% year‑over‑year to $385.39 million.
• Analysts hold a consensus "Hold" rating (3 Buys, 14 Holds) with a consensus target price of $364.60, and several firms have recently downgraded the stock.

Teacher Retirement System of Texas lowered its stake in Penumbra, Inc. (NYSE:PEN - Free Report) by 31.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,245 shares of the company's stock after selling 3,704 shares during the quarter. Teacher Retirement System of Texas' holdings in Penumbra were worth $2,563,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Mather Group LLC. purchased a new stake in shares of Penumbra in the third quarter worth about $25,000. Rothschild Investment LLC purchased a new position in Penumbra during the third quarter valued at approximately $40,000. Covestor Ltd grew its stake in Penumbra by 53.0% during the third quarter. Covestor Ltd now owns 179 shares of the company's stock valued at $46,000 after acquiring an additional 62 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in Penumbra by 27.1% during the 4th quarter. Farther Finance Advisors LLC now owns 178 shares of the company's stock worth $55,000 after acquiring an additional 38 shares during the period. Finally, Allworth Financial LP increased its holdings in Penumbra by 36.2% during the 3rd quarter. Allworth Financial LP now owns 241 shares of the company's stock worth $61,000 after acquiring an additional 64 shares during the period. Hedge funds and other institutional investors own 88.88% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on PEN shares. Wells Fargo & Company reissued an "equal weight" rating and issued a $374.00 price target on shares of Penumbra in a report on Thursday, January 15th. Evercore reaffirmed an "outperform" rating and issued a $360.00 price target on shares of Penumbra in a report on Wednesday, February 25th. Leerink Partners downgraded Penumbra from a "strong-buy" rating to a "hold" rating in a research report on Friday, January 16th. Piper Sandler lowered Penumbra from an "overweight" rating to a "hold" rating and set a $374.00 price objective for the company. in a research note on Thursday, January 15th. Finally, William Blair cut Penumbra from an "outperform" rating to a "market perform" rating in a research report on Thursday, January 15th. Three research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $364.60.

Penumbra Trading Down 0.6%

Shares of Penumbra stock opened at $327.93 on Tuesday. Penumbra, Inc. has a 1 year low of $221.26 and a 1 year high of $362.41. The firm has a market cap of $12.87 billion, a PE ratio of 72.55, a PEG ratio of 2.02 and a beta of 0.84. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.64 and a quick ratio of 4.29. The company has a 50 day simple moving average of $335.03 and a two-hundred day simple moving average of $313.04.

Penumbra (NYSE:PEN - Get Free Report) last issued its quarterly earnings results on Wednesday, February 25th. The company reported ($0.37) EPS for the quarter, missing analysts' consensus estimates of $1.12 by ($1.49). The company had revenue of $385.39 million during the quarter, compared to the consensus estimate of $367.18 million. Penumbra had a return on equity of 11.41% and a net margin of 12.66%.Penumbra's quarterly revenue was up 22.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.97 EPS. Analysts expect that Penumbra, Inc. will post 5.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Penumbra news, CFO Maggie Yuen sold 2,432 shares of Penumbra stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $342.30, for a total transaction of $832,473.60. Following the completion of the sale, the chief financial officer owned 18,353 shares of the company's stock, valued at $6,282,231.90. The trade was a 11.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Harpreet Grewal sold 100 shares of the company's stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $328.22, for a total value of $32,822.00. Following the completion of the transaction, the director owned 8,719 shares of the company's stock, valued at $2,861,750.18. The trade was a 1.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.00% of the stock is owned by corporate insiders.

Penumbra Profile

Penumbra, Inc is a global healthcare company specializing in the development and manufacture of innovative medical devices that address neurovascular and peripheral vascular conditions. The company focuses on products designed to improve patient outcomes in acute ischemic stroke, aneurysm treatment and peripheral thrombectomy. Penumbra's technologies are used by interventional neuroradiologists, neurosurgeons and interventional cardiologists in hospitals and clinics around the world.

At the core of Penumbra's portfolio is its mechanical thrombectomy platform, which includes aspiration catheters and accessory devices engineered to remove blood clots in acute stroke cases.

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