Teachers Retirement System of The State of Kentucky Acquires 4,900 Shares of Penumbra, Inc. (NYSE:PEN)

Teachers Retirement System of The State of Kentucky increased its stake in Penumbra, Inc. (NYSE:PEN - Free Report) by 17.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 33,306 shares of the company's stock after purchasing an additional 4,900 shares during the period. Teachers Retirement System of The State of Kentucky owned approximately 0.09% of Penumbra worth $7,910,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in PEN. Natixis acquired a new position in shares of Penumbra during the fourth quarter worth about $444,000. MetLife Investment Management LLC boosted its position in Penumbra by 7.0% during the 4th quarter. MetLife Investment Management LLC now owns 23,233 shares of the company's stock worth $5,517,000 after acquiring an additional 1,513 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Penumbra by 23.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 323,964 shares of the company's stock worth $76,937,000 after acquiring an additional 60,764 shares during the last quarter. First Trust Advisors LP bought a new position in shares of Penumbra during the 4th quarter worth approximately $9,965,000. Finally, Commerce Bank acquired a new stake in shares of Penumbra in the fourth quarter valued at approximately $275,000. Institutional investors own 88.88% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Piper Sandler reaffirmed an "overweight" rating and issued a $330.00 target price (up previously from $250.00) on shares of Penumbra in a research report on Wednesday, February 19th. UBS Group restated a "buy" rating and issued a $330.00 price objective (up previously from $320.00) on shares of Penumbra in a report on Thursday. BTIG Research reiterated a "buy" rating on shares of Penumbra in a report on Thursday. Bank of America started coverage on Penumbra in a research note on Friday, March 14th. They issued a "buy" rating and a $320.00 price target for the company. Finally, StockNews.com upgraded Penumbra from a "hold" rating to a "buy" rating in a research note on Thursday. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $302.40.

Penumbra Stock Performance

Penumbra stock traded up $2.25 during trading hours on Friday, hitting $300.50. The company had a trading volume of 608,778 shares, compared to its average volume of 424,593. The firm has a 50-day moving average of $276.99 and a 200 day moving average of $255.22. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.01 and a quick ratio of 3.25. The firm has a market cap of $11.64 billion, a PE ratio of 883.82, a PEG ratio of 2.83 and a beta of 0.56. Penumbra, Inc. has a one year low of $148.00 and a one year high of $310.00.

Penumbra (NYSE:PEN - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The company reported $0.83 earnings per share for the quarter, topping analysts' consensus estimates of $0.66 by $0.17. The company had revenue of $324.14 million for the quarter, compared to analyst estimates of $315.72 million. Penumbra had a return on equity of 9.74% and a net margin of 1.17%. On average, sell-side analysts expect that Penumbra, Inc. will post 3.67 earnings per share for the current year.

Insider Activity

In other Penumbra news, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $287.43, for a total value of $172,458.00. Following the completion of the sale, the executive vice president now owns 66,539 shares in the company, valued at $19,125,304.77. The trade was a 0.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas Wilder sold 360 shares of the stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $264.58, for a total transaction of $95,248.80. Following the transaction, the director now owns 4,533 shares in the company, valued at approximately $1,199,341.14. The trade was a 7.36 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 128,446 shares of company stock valued at $35,959,193. 5.00% of the stock is owned by company insiders.

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.