Oregon Public Employees Retirement Fund Sells 1,500 Shares of Penumbra, Inc. (NYSE:PEN)

Oregon Public Employees Retirement Fund reduced its holdings in shares of Penumbra, Inc. (NYSE:PEN) by 15.7% in the 2nd quarter, Holdings Channel.com reports. The fund owned 8,041 shares of the company’s stock after selling 1,500 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Penumbra were worth $1,447,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Benjamin F. Edwards & Company Inc. grew its position in Penumbra by 171.8% in the fourth 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 in the last quarter. Mather Group LLC. acquired a new stake in shares of Penumbra in the first quarter valued at about $29,000. WASHINGTON TRUST Co bought a new stake in Penumbra during the second quarter worth about $54,000. Quest Partners LLC acquired a new position in Penumbra during the fourth quarter valued at approximately $71,000. Finally, Headlands Technologies LLC bought a new position in Penumbra in the first quarter valued at approximately $89,000. 88.88% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Penumbra news, Director Don W. Kassing sold 170 shares of the stock in a transaction that occurred 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 transaction, the director now owns 1,005 shares in the company, valued at approximately $180,889.95. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Penumbra news, CEO Adam Elsesser sold 15,000 shares of Penumbra stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $202.52, for a total value of $3,037,800.00. Following the completion of the transaction, the chief executive officer now directly owns 927,582 shares of the company’s stock, valued at approximately $187,853,906.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Don W. Kassing sold 170 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $179.99, for a total value of $30,598.30. Following the sale, the director now directly owns 1,005 shares in the company, valued at $180,889.95. The disclosure for this sale can be found here. Insiders sold 19,372 shares of company stock worth $3,888,852 in the last quarter. 5.00% of the stock is currently owned by corporate insiders.

Penumbra Price Performance

Shares of NYSE PEN opened at $203.73 on Friday. The firm has a market cap of $7.90 billion, a P/E ratio of 85.96, a price-to-earnings-growth ratio of 2.26 and a beta of 0.54. The business’s 50 day moving average is $187.35 and its 200-day moving average is $202.33. The company has a current ratio of 6.25, a quick ratio of 3.77 and a debt-to-equity ratio of 0.02. Penumbra, Inc. has a 1-year low of $148.00 and a 1-year high of $302.00.

Penumbra (NYSE:PEN) last posted its earnings results on Tuesday, July 30th. The company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.08. Penumbra had a return on equity of 8.39% and a net margin of 1.26%. The company had revenue of $299.40 million during the quarter, compared to the consensus estimate of $298.24 million. During the same quarter last year, the firm earned $0.43 earnings per share. The company’s revenue was up 14.5% on a year-over-year basis. Equities research analysts predict that Penumbra, Inc. will post 2.64 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on PEN shares. Canaccord Genuity Group cut their price objective on Penumbra from $272.00 to $176.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Truist Financial reissued a “buy” rating and issued a $200.00 price objective (down previously from $230.00) on shares of Penumbra in a research report on Wednesday, July 31st. Citigroup boosted their price objective on shares of Penumbra from $178.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, August 22nd. Piper Sandler cut their target price on shares of Penumbra from $260.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Finally, Morgan Stanley lowered their price target on Penumbra from $235.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Monday, July 15th. Six research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $205.27.

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.