Louisiana State Employees Retirement System Buys New Stake in Penumbra, Inc. (NYSE:PEN)

Louisiana State Employees Retirement System bought a new position in shares of Penumbra, Inc. (NYSE:PEN - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 10,800 shares of the company's stock, valued at approximately $2,717,000.

Several other institutional investors also recently modified their holdings of the stock. Price T Rowe Associates Inc. MD increased its stake in Penumbra by 104.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,185,062 shares of the company's stock valued at $608,956,000 after purchasing an additional 1,115,176 shares in the last quarter. Norges Bank bought a new stake in shares of Penumbra in the 4th quarter valued at $99,266,000. Morgan Stanley increased its position in shares of Penumbra by 331.1% in the 4th quarter. Morgan Stanley now owns 320,876 shares of the company's stock valued at $71,382,000 after buying an additional 246,451 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in Penumbra by 7,117.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 241,635 shares of the company's stock worth $2,800,000 after buying an additional 238,287 shares during the period. Finally, Rock Springs Capital Management LP lifted its holdings in Penumbra by 37.6% during the third quarter. Rock Springs Capital Management LP now owns 503,750 shares of the company's stock worth $121,862,000 after acquiring an additional 137,750 shares in the last quarter. 88.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on PEN shares. TheStreet raised Penumbra from a "d+" rating to a "c-" rating in a research report on Friday, January 12th. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $284.00 price target on shares of Penumbra in a research note on Friday, February 23rd. JPMorgan Chase & Co. cut shares of Penumbra from an "overweight" rating to a "neutral" rating and reduced their price target for the company from $284.00 to $250.00 in a report on Friday, February 23rd. Truist Financial dropped their price objective on shares of Penumbra from $290.00 to $280.00 and set a "buy" rating on the stock in a report on Friday, March 22nd. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $289.00 target price on shares of Penumbra in a research note on Friday, February 23rd. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $304.45.

Penumbra Stock Performance

Shares of PEN traded down $0.12 during midday trading on Tuesday, reaching $210.07. The stock had a trading volume of 232,495 shares, compared to its average volume of 343,538. The firm has a market cap of $8.13 billion, a PE ratio of 90.94, a P/E/G ratio of 2.15 and a beta of 0.51. The firm has a 50 day simple moving average of $239.43 and a 200-day simple moving average of $233.37. Penumbra, Inc. has a one year low of $180.93 and a one year high of $348.67. The company has a current ratio of 6.06, a quick ratio of 3.49 and a debt-to-equity ratio of 0.02.

Penumbra (NYSE:PEN - Get Free Report) last posted its quarterly earnings results on Thursday, February 22nd. The company reported $0.76 EPS for the quarter, topping analysts' consensus estimates of $0.71 by $0.05. Penumbra had a return on equity of 7.49% and a net margin of 8.59%. The business had revenue of $284.68 million during the quarter, compared to analysts' expectations of $286.62 million. During the same quarter last year, the company posted $0.16 earnings per share. Penumbra's quarterly revenue was up 28.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Penumbra, Inc. will post 2.85 EPS for the current year.

Insider Activity at Penumbra

In other Penumbra news, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction on Friday, March 1st. The shares were sold at an average price of $237.68, for a total transaction of $142,608.00. Following the completion of the transaction, the executive vice president now directly owns 62,997 shares of the company's stock, valued at $14,973,126.96. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Arani Bose sold 7,500 shares of the firm's stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $250.20, for a total transaction of $1,876,500.00. Following the transaction, the director now directly owns 164,294 shares of the company's stock, valued at $41,106,358.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Johanna Roberts sold 600 shares of the business's stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $237.68, for a total value of $142,608.00. Following the completion of the sale, the executive vice president now owns 62,997 shares of the company's stock, valued at $14,973,126.96. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,648 shares of company stock worth $2,369,903. Company insiders own 5.30% of the company's stock.

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.