Texas Permanent School Fund Corp Buys 438 Shares of Penumbra, Inc. (NYSE:PEN)

Texas Permanent School Fund Corp grew its holdings in Penumbra, Inc. (NYSE:PEN) by 1.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 33,779 shares of the company’s stock after purchasing an additional 438 shares during the quarter. Texas Permanent School Fund Corp owned approximately 0.09% of Penumbra worth $7,539,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Penumbra by 171.8% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 106 shares of the company’s stock valued at $27,000 after purchasing an additional 67 shares during the last quarter. Mather Group LLC. bought a new position in shares of Penumbra in the 1st quarter valued at about $29,000. Signaturefd LLC boosted its stake in shares of Penumbra by 27.2% in the 4th quarter. Signaturefd LLC now owns 215 shares of the company’s stock valued at $54,000 after purchasing an additional 46 shares during the last quarter. Quest Partners LLC bought a new position in shares of Penumbra in the 4th quarter valued at about $71,000. Finally, Picton Mahoney Asset Management bought a new position in shares of Penumbra in the 4th quarter valued at about $88,000. Institutional investors own 88.88% of the company’s stock.

Insider Transactions at Penumbra

In other news, EVP Johanna Roberts sold 600 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $207.41, for a total transaction of $124,446.00. Following the completion of the transaction, the executive vice president now directly owns 63,488 shares of the company’s stock, valued at approximately $13,168,046.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Johanna Roberts sold 600 shares of the firm’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $207.41, for a total value of $124,446.00. Following the completion of the transaction, the executive vice president now directly owns 63,488 shares of the company’s stock, valued at $13,168,046.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Don W. Kassing sold 170 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $179.99, for a total transaction of $30,598.30. Following the completion of the transaction, the director now directly owns 1,005 shares of the company’s stock, valued at $180,889.95. The disclosure for this sale can be found here. Insiders sold 16,970 shares of company stock valued at $3,390,604 in the last ninety days. 5.00% of the stock is currently owned by corporate insiders.

Penumbra Stock Up 3.8 %

PEN stock traded up $6.83 during mid-day trading on Thursday, hitting $186.29. 341,377 shares of the company were exchanged, compared to its average volume of 342,455. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.51 and a current ratio of 6.12. The firm has a market cap of $7.22 billion, a P/E ratio of 78.60, a P/E/G ratio of 1.82 and a beta of 0.55. The firm’s 50 day simple moving average is $190.06 and its 200 day simple moving average is $221.72. Penumbra, Inc. has a 1-year low of $170.59 and a 1-year high of $324.59.

Penumbra (NYSE:PEN) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.01). The business had revenue of $278.70 million for the quarter, compared to the consensus estimate of $274.94 million. Penumbra had a return on equity of 7.83% and a net margin of 8.52%. Penumbra’s revenue was up 15.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.23 earnings per share. On average, sell-side analysts predict that Penumbra, Inc. will post 2.87 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PEN. Canaccord Genuity Group cut their price target on shares of Penumbra from $284.00 to $272.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. Needham & Company LLC reiterated a “hold” rating on shares of Penumbra in a research report on Wednesday, May 8th. Citigroup cut their price target on shares of Penumbra from $300.00 to $265.00 and set a “buy” rating on the stock in a research report on Wednesday. Truist Financial cut their price target on shares of Penumbra from $290.00 to $280.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. Finally, Piper Sandler cut their price target on shares of Penumbra from $290.00 to $260.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 8th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $287.60.

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.