Public Employees Retirement Association of Colorado Increases Position in Penumbra, Inc. (NYSE:PEN)

Public Employees Retirement Association of Colorado grew its stake in Penumbra, Inc. (NYSE:PEN - Free Report) by 1,648.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 67,550 shares of the company's stock after purchasing an additional 63,686 shares during the period. Public Employees Retirement Association of Colorado owned approximately 0.18% of Penumbra worth $16,042,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in PEN. Norges Bank acquired a new stake in shares of Penumbra in the 4th quarter worth $54,396,000. T. Rowe Price Investment Management Inc. raised its stake in Penumbra by 47.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 707,061 shares of the company's stock worth $167,913,000 after purchasing an additional 227,506 shares during the period. Baillie Gifford & Co. boosted its holdings in Penumbra by 23.4% in the 4th quarter. Baillie Gifford & Co. now owns 730,233 shares of the company's stock valued at $173,416,000 after purchasing an additional 138,387 shares during the last quarter. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Penumbra in the 4th quarter valued at approximately $23,866,000. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Penumbra by 39.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 299,397 shares of the company's stock valued at $71,831,000 after buying an additional 85,284 shares during the period. Institutional investors and hedge funds own 88.88% of the company's stock.

Penumbra Stock Up 1.4 %

NYSE:PEN traded up $4.15 during mid-day trading on Friday, hitting $295.97. The stock had a trading volume of 382,737 shares, compared to its average volume of 427,165. Penumbra, Inc. has a twelve month low of $148.00 and a twelve month high of $310.00. The stock has a 50-day simple moving average of $277.12 and a two-hundred day simple moving average of $257.58. The company has a current ratio of 6.01, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $11.46 billion, a PE ratio of 870.50, a PEG ratio of 2.83 and a beta of 0.56.

Penumbra (NYSE:PEN - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $0.83 earnings per share for the quarter, beating analysts' consensus estimates of $0.66 by $0.17. The business had revenue of $324.14 million for the quarter, compared to analyst estimates of $315.72 million. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. The company's revenue was up 16.3% on a year-over-year basis. During the same period last year, the business earned $0.41 EPS. On average, equities research analysts anticipate that Penumbra, Inc. will post 3.67 EPS for the current year.

Wall Street Analyst Weigh In

PEN has been the subject of several recent analyst reports. Morgan Stanley raised their target price on Penumbra from $240.00 to $260.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 19th. Canaccord Genuity Group raised their price objective on Penumbra from $323.00 to $340.00 and gave the stock a "buy" rating in a research report on Wednesday, February 19th. StockNews.com raised shares of Penumbra from a "hold" rating to a "buy" rating in a research report on Thursday, April 24th. Royal Bank of Canada lifted their price target on shares of Penumbra from $315.00 to $330.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Finally, Bank of America started coverage on shares of Penumbra in a research report on Friday, March 14th. They set a "buy" rating and a $320.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Penumbra presently has an average rating of "Moderate Buy" and an average price target of $302.40.

Insider Transactions at Penumbra

In other Penumbra news, CEO Adam Elsesser sold 61,600 shares of the firm's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $283.59, for a total transaction of $17,469,144.00. Following the transaction, the chief executive officer now owns 16,376 shares of the company's stock, valued at approximately $4,644,069.84. This trade represents a 79.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Johanna Roberts sold 600 shares of the business's 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 directly owns 66,539 shares of the company's stock, valued at $19,125,304.77. The trade was a 0.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 140,446 shares of company stock valued at $39,543,953. 5.00% of the stock is currently owned by corporate 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.