New York State Common Retirement Fund Has $13.82 Million Stock Position in Penumbra, Inc. (NYSE:PEN)

New York State Common Retirement Fund raised its position in shares of Penumbra, Inc. (NYSE:PEN - Free Report) by 12.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 54,930 shares of the company's stock after purchasing an additional 6,152 shares during the period. New York State Common Retirement Fund owned 0.14% of Penumbra worth $13,817,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Invesco Ltd. boosted its holdings in shares of Penumbra by 6.4% in the third quarter. Invesco Ltd. now owns 551,923 shares of the company's stock valued at $133,516,000 after acquiring an additional 33,107 shares in the last quarter. Rock Springs Capital Management LP increased its position in shares of Penumbra by 37.6% during the 3rd quarter. Rock Springs Capital Management LP now owns 503,750 shares of the company's stock valued at $121,862,000 after purchasing an additional 137,750 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Penumbra by 19.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 265,155 shares of the company's stock valued at $66,697,000 after purchasing an additional 42,876 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Penumbra by 2.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 239,103 shares of the company's stock valued at $57,841,000 after buying an additional 6,436 shares during the period. Finally, Redmile Group LLC boosted its stake in Penumbra by 11.6% during the third quarter. Redmile Group LLC now owns 155,076 shares of the company's stock valued at $37,514,000 after buying an additional 16,106 shares in the last quarter. Institutional investors own 88.88% of the company's stock.

Analyst Upgrades and Downgrades

PEN has been the subject of several research reports. Royal Bank of Canada restated an "outperform" rating and set a $289.00 price objective on shares of Penumbra in a research report on Friday, February 23rd. JPMorgan Chase & Co. lowered shares of Penumbra from an "overweight" rating to a "neutral" rating and decreased their price target for the stock from $284.00 to $250.00 in a research report on Friday, February 23rd. Canaccord Genuity Group reiterated a "buy" rating and set a $284.00 price objective on shares of Penumbra in a research report on Friday, February 23rd. Truist Financial reduced their price objective on Penumbra from $290.00 to $280.00 and set a "buy" rating for the company in a research note on Friday, March 22nd. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $290.00 target price on shares of Penumbra in a research report on Wednesday, April 3rd. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Penumbra presently has a consensus rating of "Moderate Buy" and an average target price of $304.45.

Penumbra Trading Down 2.8 %

Shares of NYSE:PEN traded down $5.57 during trading on Tuesday, hitting $196.47. 302,305 shares of the company's stock were exchanged, compared to its average volume of 342,002. The company has a current ratio of 6.06, a quick ratio of 3.49 and a debt-to-equity ratio of 0.02. The firm has a market cap of $7.62 billion, a P/E ratio of 85.84, a PEG ratio of 2.02 and a beta of 0.51. The firm has a 50-day moving average price of $226.70 and a two-hundred day moving average price of $231.91. Penumbra, Inc. has a 1-year low of $180.93 and a 1-year high of $348.67.

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

Insider Activity at Penumbra

In related news, Director Arani Bose sold 7,500 shares of the firm's stock in a transaction on Monday, March 4th. The shares were sold at an average price of $250.20, for a total value of $1,876,500.00. Following the completion of the transaction, the director now owns 164,294 shares of the company's stock, valued at $41,106,358.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $217.07, for a total transaction of $130,242.00. Following the completion of the transaction, the executive vice president now owns 64,281 shares in the company, valued at $13,953,476.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $1,876,500.00. Following the completion of the sale, the director now directly owns 164,294 shares of the company's stock, valued at $41,106,358.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,648 shares of company stock valued at $2,369,903. 5.30% of the stock is owned by corporate insiders.

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.