State of Tennessee Department of Treasury Cuts Stake in Penumbra, Inc. (NYSE:PEN)

State of Tennessee Department of Treasury lessened its holdings in Penumbra, Inc. (NYSE:PEN) by 2.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,320 shares of the company’s stock after selling 432 shares during the quarter. State of Tennessee Department of Treasury’s holdings in Penumbra were worth $3,638,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in PEN. Baillie Gifford & Co. lifted its stake in shares of 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 acquiring an additional 138,387 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Penumbra by 23.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 323,964 shares of the company’s stock valued at $76,937,000 after purchasing an additional 60,764 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of Penumbra by 8.2% during the third quarter. Franklin Resources Inc. now owns 319,232 shares of the company’s stock valued at $67,473,000 after purchasing an additional 24,091 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in shares of Penumbra by 39.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 299,397 shares of the company’s stock worth $71,831,000 after purchasing an additional 85,284 shares during the last quarter. Finally, Artisan Partners Limited Partnership increased its stake in shares of Penumbra by 1.9% in the fourth quarter. Artisan Partners Limited Partnership now owns 296,058 shares of the company’s stock worth $70,308,000 after buying an additional 5,470 shares during the period. 88.88% of the stock is owned by institutional investors.

Penumbra Trading Up 0.8 %

NYSE:PEN opened at $300.50 on Friday. The firm has a market capitalization of $11.64 billion, a P/E ratio of 883.82, a PEG ratio of 2.83 and a beta of 0.56. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.01 and a quick ratio of 3.25. Penumbra, Inc. has a one year low of $148.00 and a one year high of $310.00. The company’s 50-day simple moving average is $276.99 and its 200 day simple moving average is $254.78.

Penumbra (NYSE:PEN) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.17. The company had revenue of $324.14 million for the quarter, compared to the consensus estimate of $315.72 million. Penumbra had a return on equity of 9.74% and a net margin of 1.17%. As a group, analysts forecast that Penumbra, Inc. will post 3.67 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Morgan Stanley increased their price target on shares of Penumbra from $240.00 to $260.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 19th. StockNews.com upgraded shares of Penumbra from a “hold” rating to a “buy” rating in a report on Thursday. Royal Bank of Canada boosted their price target on Penumbra from $315.00 to $330.00 and gave the company an “outperform” rating in a report on Thursday. BTIG Research reiterated a “buy” rating on shares of Penumbra in a research report on Thursday. Finally, Truist Financial upped their target price on Penumbra from $315.00 to $330.00 and gave the company a “buy” rating in a report on Thursday. Three investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $302.40.

Insider Activity

In other Penumbra news, Director Thomas Wilder sold 360 shares of Penumbra stock in a transaction on 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 sale, the director now owns 4,533 shares of the company’s stock, valued at approximately $1,199,341.14. This trade represents a 7.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Maggie Yuen sold 2,000 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $286.00, for a total value of $572,000.00. Following the sale, the chief financial officer now directly owns 15,243 shares in the company, valued at $4,359,498. This trade represents a 11.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 128,446 shares of company stock worth $35,959,193 over the last three months. 5.00% of the stock is currently owned by corporate insiders.

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.