Louisiana State Employees Retirement System Lowers Stock Holdings in Penumbra, Inc. (NYSE:PEN)

Louisiana State Employees Retirement System reduced its stake in Penumbra, Inc. (NYSE:PEN) by 0.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 10,700 shares of the company’s stock after selling 100 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Penumbra were worth $2,541,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. China Universal Asset Management Co. Ltd. purchased a new position in shares of Penumbra in the 4th quarter valued at approximately $573,000. State Street Corp boosted its stake in shares of Penumbra by 0.3% in the third quarter. State Street Corp now owns 1,236,671 shares of the company’s stock valued at $240,298,000 after buying an additional 3,863 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of Penumbra by 3,832.3% in the third quarter. Thrivent Financial for Lutherans now owns 368,298 shares of the company’s stock valued at $71,564,000 after buying an additional 358,932 shares in the last quarter. E. Ohman J or Asset Management AB boosted its stake in shares of Penumbra by 10.4% in the fourth quarter. E. Ohman J or Asset Management AB now owns 21,312 shares of the company’s stock valued at $5,061,000 after buying an additional 2,000 shares in the last quarter. Finally, AlphaCentric Advisors LLC purchased a new stake in shares of Penumbra in the third quarter valued at approximately $777,000. 88.88% of the stock is currently owned by hedge funds and other institutional investors.

Penumbra Stock Performance

NYSE PEN opened at $272.96 on Friday. The stock has a market cap of $10.48 billion, a price-to-earnings ratio of 317.39, a price-to-earnings-growth ratio of 1.92 and a beta of 0.53. The business has a fifty day moving average of $253.82 and a 200-day moving average of $222.88. Penumbra, Inc. has a fifty-two week low of $148.00 and a fifty-two week high of $277.89. The company has a quick ratio of 3.25, a current ratio of 5.82 and a debt-to-equity ratio of 0.02.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on PEN shares. Truist Financial lifted their price target on Penumbra from $240.00 to $285.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Piper Sandler lifted their price target on Penumbra from $235.00 to $250.00 and gave the company an “overweight” rating in a research note on Wednesday, November 20th. Citigroup lifted their price target on Penumbra from $220.00 to $245.00 and gave the company a “neutral” rating in a research note on Wednesday, December 11th. Canaccord Genuity Group lifted their price target on Penumbra from $260.00 to $323.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, BTIG Research lifted their price target on Penumbra from $232.00 to $270.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Penumbra currently has an average rating of “Moderate Buy” and a consensus price target of $261.36.

Insider Buying and Selling at Penumbra

In other Penumbra news, Director Harpreet Grewal sold 167 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $241.28, for a total transaction of $40,293.76. Following the sale, the director now owns 8,530 shares in the company, valued at $2,058,118.40. This represents a 1.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Lambert Shiu sold 1,798 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $242.56, for a total value of $436,122.88. Following the sale, the chief accounting officer now owns 20,682 shares in the company, valued at $5,016,625.92. The trade was a 8.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,819 shares of company stock valued at $8,129,483. Company insiders own 5.00% of the company’s stock.

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.