Penumbra, Inc. (NYSE:PEN) Shares Acquired by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp increased its stake in shares of Penumbra, Inc. (NYSE:PEN) by 3.4% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 34,921 shares of the company’s stock after acquiring an additional 1,142 shares during the period. Texas Permanent School Fund Corp owned approximately 0.09% of Penumbra worth $6,285,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. M&T Bank Corp lifted its position in shares of Penumbra by 9.4% during the fourth quarter. M&T Bank Corp now owns 1,380 shares of the company’s stock worth $347,000 after purchasing an additional 118 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Penumbra by 4.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 250,101 shares of the company’s stock valued at $62,910,000 after acquiring an additional 10,998 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of Penumbra by 287.2% during the fourth quarter. BNP Paribas Financial Markets now owns 19,613 shares of the company’s stock valued at $4,933,000 after acquiring an additional 14,548 shares in the last quarter. QRG Capital Management Inc. increased its position in shares of Penumbra by 77.9% during the fourth quarter. QRG Capital Management Inc. now owns 3,120 shares of the company’s stock worth $785,000 after acquiring an additional 1,366 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Penumbra by 7.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 118,828 shares of the company’s stock worth $29,893,000 after acquiring an additional 8,122 shares in the last quarter. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on PEN shares. Morgan Stanley lowered their price objective on Penumbra from $235.00 to $210.00 and set an “equal weight” rating for the company in a research note on Monday, July 15th. Needham & Company LLC reissued a “hold” rating on shares of Penumbra in a research report on Wednesday, July 31st. Leerink Partnrs raised shares of Penumbra to a “strong-buy” rating in a report on Tuesday, September 3rd. Canaccord Genuity Group decreased their price objective on shares of Penumbra from $272.00 to $176.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Finally, BTIG Research upped their target price on shares of Penumbra from $187.00 to $224.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Six research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $205.27.

Penumbra Stock Performance

Shares of NYSE PEN opened at $202.31 on Thursday. The stock has a market capitalization of $7.84 billion, a P/E ratio of 85.36, a P/E/G ratio of 2.28 and a beta of 0.54. The firm’s 50-day moving average price is $188.77 and its two-hundred day moving average price is $201.23. Penumbra, Inc. has a 52-week low of $148.00 and a 52-week high of $298.97. The company has a quick ratio of 3.77, a current ratio of 6.25 and a debt-to-equity ratio of 0.02.

Penumbra (NYSE:PEN) last posted its earnings results on Tuesday, July 30th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.08. The company had revenue of $299.40 million for the quarter, compared to analysts’ expectations of $298.24 million. Penumbra had a return on equity of 8.39% and a net margin of 1.26%. The firm’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same period last year, the business posted $0.43 earnings per share. As a group, sell-side analysts forecast that Penumbra, Inc. will post 2.63 earnings per share for the current year.

Insider Buying and Selling at Penumbra

In other Penumbra news, EVP Johanna Roberts sold 600 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $206.22, for a total value of $123,732.00. Following the sale, the executive vice president now owns 61,088 shares in the company, valued at $12,597,567.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Johanna Roberts sold 600 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $206.22, for a total value of $123,732.00. Following the completion of the transaction, the executive vice president now directly owns 61,088 shares of the company’s stock, valued at approximately $12,597,567.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Harpreet Grewal sold 782 shares of Penumbra stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $204.11, for a total value of $159,614.02. Following the sale, the director now directly owns 8,863 shares in the company, valued at approximately $1,809,026.93. The disclosure for this sale can be found here. Insiders sold 19,372 shares of company stock valued at $3,888,852 in the last ninety days. Company insiders own 5.00% of the company’s stock.

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.