Teacher Retirement System of Texas Purchases 6,265 Shares of Penumbra, Inc. (NYSE:PEN)

Teacher Retirement System of Texas lifted its position in shares of Penumbra, Inc. (NYSE:PEN - Free Report) by 388.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,876 shares of the company's stock after purchasing an additional 6,265 shares during the quarter. Teacher Retirement System of Texas' holdings in Penumbra were worth $1,870,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Pallas Capital Advisors LLC raised its holdings in Penumbra by 3.8% during the fourth quarter. Pallas Capital Advisors LLC now owns 1,108 shares of the company's stock worth $263,000 after buying an additional 41 shares during the last quarter. Advisors Asset Management Inc. grew its stake in Penumbra by 11.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 416 shares of the company's stock valued at $81,000 after buying an additional 43 shares in the last quarter. Pacer Advisors Inc. grew its position in shares of Penumbra by 1.0% in the fourth quarter. Pacer Advisors Inc. now owns 5,721 shares of the company's stock valued at $1,359,000 after purchasing an additional 57 shares in the last quarter. CIBC Asset Management Inc grew its holdings in Penumbra by 5.4% during the 4th quarter. CIBC Asset Management Inc now owns 1,183 shares of the company's stock valued at $281,000 after buying an additional 61 shares in the last quarter. Finally, Corient Private Wealth LLC grew its stake in Penumbra by 3.7% during the fourth quarter. Corient Private Wealth LLC now owns 1,695 shares of the company's stock valued at $403,000 after acquiring an additional 61 shares in the last quarter. 88.88% of the stock is owned by institutional investors and hedge funds.

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Insiders Place Their Bets

In related news, 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 transaction of $17,469,144.00. Following the transaction, the chief executive officer now owns 16,376 shares in the company, valued at $4,644,069.84. The trade was a 79.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Lambert Shiu sold 501 shares of the stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $282.88, for a total transaction of $141,722.88. Following the completion of the transaction, the chief accounting officer now directly owns 32,969 shares of the company's stock, valued at approximately $9,326,270.72. The trade was a 1.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 93,518 shares of company stock worth $26,400,219. 5.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Truist Financial raised their price target on shares of Penumbra from $285.00 to $325.00 and gave the company a "buy" rating in a report on Wednesday, February 19th. JPMorgan Chase & Co. lifted their price objective on Penumbra from $230.00 to $285.00 and gave the company an "overweight" rating in a research note on Wednesday, February 19th. Oppenheimer began coverage on Penumbra in a research note on Tuesday, December 17th. They issued an "outperform" rating and a $275.00 target price on the stock. StockNews.com downgraded Penumbra from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. Finally, Citigroup boosted their price objective on Penumbra from $220.00 to $245.00 and gave the stock a "neutral" rating in a report on Wednesday, December 11th. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $294.47.

Penumbra Trading Up 0.1 %

Shares of NYSE PEN traded up $0.28 during mid-day trading on Monday, hitting $267.84. The stock had a trading volume of 370,000 shares, compared to its average volume of 404,233. The firm has a market cap of $10.32 billion, a P/E ratio of 787.77, a price-to-earnings-growth ratio of 2.83 and a beta of 0.51. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.25 and a current ratio of 6.01. The business has a 50 day moving average price of $274.62 and a two-hundred day moving average price of $243.66. 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 data on Tuesday, February 18th. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.88 by $0.09. The firm had revenue of $315.52 million during the quarter, compared to the consensus estimate of $311.63 million. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. On average, equities analysts anticipate that Penumbra, Inc. will post 3.67 EPS for the current fiscal 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.