Teacher Retirement System of Texas Grows Stake in Penumbra, Inc. (NYSE:PEN)

Teacher Retirement System of Texas increased its holdings in Penumbra, Inc. (NYSE:PEN) by 388.9% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,876 shares of the company’s stock after buying an additional 6,265 shares during the period. Teacher Retirement System of Texas’ holdings in Penumbra were worth $1,870,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in PEN. True Wealth Design LLC purchased a new stake in shares of Penumbra in the 3rd quarter valued at about $26,000. UMB Bank n.a. lifted its position in Penumbra by 57.4% during the fourth quarter. UMB Bank n.a. now owns 192 shares of the company’s stock valued at $46,000 after purchasing an additional 70 shares during the last quarter. Mather Group LLC. grew its stake in Penumbra by 208.0% in the 4th quarter. Mather Group LLC. now owns 308 shares of the company’s stock worth $73,000 after buying an additional 208 shares in the last quarter. Advisors Asset Management Inc. raised its position in shares of Penumbra by 11.5% during 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. Finally, Jones Financial Companies Lllp grew its position in 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 in the last quarter. Institutional investors own 88.88% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Adam Elsesser sold 61,600 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now owns 16,376 shares in the company, valued at approximately $4,644,069.84. The trade was a 79.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Johanna Roberts sold 600 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $287.43, for a total transaction of $172,458.00. Following the completion of the sale, the executive vice president now directly owns 66,539 shares in the company, valued at $19,125,304.77. This represents a 0.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 93,518 shares of company stock worth $26,400,219. Company insiders own 5.00% of the company’s stock.

Penumbra Stock Performance

Shares of PEN stock opened at $268.89 on Friday. The company has a quick ratio of 3.25, a current ratio of 6.01 and a debt-to-equity ratio of 0.02. The stock has a fifty day moving average of $274.49 and a 200 day moving average of $242.13. The firm has a market capitalization of $10.36 billion, a price-to-earnings ratio of 790.84, a PEG ratio of 2.83 and a beta of 0.51. Penumbra, Inc. has a 52 week low of $148.00 and a 52 week high of $310.00.

Penumbra (NYSE:PEN) last announced its earnings results on Tuesday, February 18th. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.09. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. The firm had revenue of $315.52 million for the quarter, compared to analyst estimates of $311.63 million. As a group, research analysts expect that Penumbra, Inc. will post 3.67 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PEN has been the topic of a number of research reports. JPMorgan Chase & Co. raised their price objective on Penumbra from $230.00 to $285.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Citigroup boosted their price objective on shares of Penumbra from $220.00 to $245.00 and gave the stock a “neutral” rating in a report on Wednesday, December 11th. Morgan Stanley increased their target price on shares of Penumbra from $240.00 to $260.00 and gave the company an “equal weight” rating in a report on Wednesday, February 19th. Truist Financial upped their price target on shares of Penumbra from $285.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $330.00 price objective (up previously from $250.00) on shares of Penumbra in a report on Wednesday, February 19th. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $294.47.

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.