Penumbra, Inc. (NYSE:PEN) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lessened its position in Penumbra, Inc. (NYSE:PEN - Free Report) by 9.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,502 shares of the company's stock after selling 4,696 shares during the period. California Public Employees Retirement System owned about 0.12% of Penumbra worth $10,806,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. UMB Bank n.a. grew its holdings in Penumbra by 57.4% in the 4th quarter. UMB Bank n.a. now owns 192 shares of the company's stock valued at $46,000 after buying an additional 70 shares during the period. Mather Group LLC. boosted its position in shares of Penumbra by 208.0% in the fourth quarter. Mather Group LLC. now owns 308 shares of the company's stock worth $73,000 after acquiring an additional 208 shares during the last quarter. Jones Financial Companies Lllp boosted its position in shares of Penumbra by 25.0% in the fourth quarter. Jones Financial Companies Lllp now owns 375 shares of the company's stock worth $89,000 after acquiring an additional 75 shares during the last quarter. GAMMA Investing LLC grew its holdings in Penumbra by 160.8% in the fourth quarter. GAMMA Investing LLC now owns 446 shares of the company's stock valued at $106,000 after purchasing an additional 275 shares during the period. Finally, Blue Trust Inc. increased its position in Penumbra by 43.4% during the fourth quarter. Blue Trust Inc. now owns 730 shares of the company's stock worth $173,000 after purchasing an additional 221 shares during the last quarter. Hedge funds and other institutional investors own 88.88% of the company's stock.

Insider Transactions at Penumbra

In related news, Director Thomas Wilder sold 360 shares of Penumbra stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $264.58, for a total value of $95,248.80. Following the completion of the transaction, the director now directly owns 4,533 shares in the company, valued at approximately $1,199,341.14. This trade represents a 7.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Adam Elsesser sold 61,600 shares of the business's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $283.59, for a total value of $17,469,144.00. Following the completion of the sale, the chief executive officer now directly owns 16,376 shares of the company's stock, valued at approximately $4,644,069.84. This represents a 79.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 111,236 shares of company stock valued at $31,222,390. 5.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PEN. Oppenheimer started coverage on shares of Penumbra in a research note on Tuesday, December 17th. They set an "outperform" rating and a $275.00 price objective for the company. Needham & Company LLC reissued a "hold" rating on shares of Penumbra in a research report on Wednesday, February 19th. Royal Bank of Canada upped their price target on Penumbra from $285.00 to $313.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. Morgan Stanley lifted their price objective on Penumbra from $240.00 to $260.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 19th. Finally, JPMorgan Chase & Co. raised their price target on shares of Penumbra from $230.00 to $285.00 and gave the company an "overweight" rating in a report on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $293.80.

Penumbra Stock Up 1.4 %

PEN stock traded up $3.87 during trading on Friday, reaching $272.44. The stock had a trading volume of 388,806 shares, compared to its average volume of 411,290. The firm has a fifty day moving average price of $274.33 and a 200 day moving average price of $248.80. 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 $10.49 billion, a P/E ratio of 801.28, a PEG ratio of 2.83 and a beta of 0.56. Penumbra, Inc. has a 1-year low of $148.00 and a 1-year high of $310.00.

Penumbra (NYSE:PEN - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The company reported $0.97 EPS for the quarter, beating analysts' consensus estimates of $0.88 by $0.09. Penumbra had a return on equity of 9.74% and a net margin of 1.17%. The firm had revenue of $315.52 million during the quarter, compared to the consensus estimate of $311.63 million. On average, equities analysts anticipate that Penumbra, Inc. will post 3.67 earnings per share for the current year.

Penumbra Company 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.