Public Employees Retirement System of Ohio Buys Shares of 10,939 Penumbra, Inc. $PEN

Public Employees Retirement System of Ohio acquired a new stake in shares of Penumbra, Inc. (NYSE:PEN) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 10,939 shares of the company’s stock, valued at approximately $3,454,000.

Several other hedge funds also recently added to or reduced their stakes in PEN. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Penumbra in the 2nd quarter worth about $25,000. Larson Financial Group LLC raised its stake in Penumbra by 4,100.0% during the fourth quarter. Larson Financial Group LLC now owns 84 shares of the company’s stock worth $26,000 after acquiring an additional 82 shares during the period. CIBC Private Wealth Group LLC lifted its holdings in Penumbra by 2,700.0% in the fourth quarter. CIBC Private Wealth Group LLC now owns 84 shares of the company’s stock worth $26,000 after acquiring an additional 81 shares during the last quarter. Motiv8 Investments LLC bought a new position in shares of Penumbra during the fourth quarter valued at approximately $27,000. Finally, Keating Financial Advisory Services Inc. acquired a new stake in shares of Penumbra during the 2nd quarter worth approximately $31,000. 88.88% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PEN. Royal Bank Of Canada reissued a “sector perform” rating and set a $374.00 price target on shares of Penumbra in a report on Thursday, June 11th. Wall Street Zen upgraded shares of Penumbra to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings reissued a “hold (c)” rating on shares of Penumbra in a research note on Friday, July 17th. Evercore restated an “outperform” rating and issued a $320.00 target price on shares of Penumbra in a research report on Monday, July 6th. Finally, Zacks Research raised Penumbra from a “strong sell” rating to a “hold” rating in a report on Monday, August 24th. Three investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. According to MarketBeat, Penumbra has an average rating of “Hold” and a consensus price target of $367.07.

Penumbra Trading Up 0.4%

Shares of NYSE:PEN opened at $322.28 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.86 and a current ratio of 5.75. The stock has a market capitalization of $12.69 billion, a price-to-earnings ratio of 79.18, a PEG ratio of 2.21 and a beta of 0.70. Penumbra, Inc. has a 1-year low of $221.26 and a 1-year high of $362.41. The company has a 50 day moving average price of $321.25 and a 200 day moving average price of $326.29.

Penumbra (NYSE:PEN) last posted its quarterly earnings data on Thursday, July 30th. The company reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.16 by ($0.28). The company had revenue of $390.05 million for the quarter, compared to analyst estimates of $389.64 million. Penumbra had a return on equity of 10.50% and a net margin of 10.67%.Penumbra’s quarterly revenue was up 14.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.86 EPS. On average, research analysts anticipate that Penumbra, Inc. will post 4.96 EPS for the current fiscal year.

About Penumbra

Penumbra, Inc is a global healthcare company specializing in the development and manufacture of innovative medical devices that address neurovascular and peripheral vascular conditions. The company focuses on products designed to improve patient outcomes in acute ischemic stroke, aneurysm treatment and peripheral thrombectomy. Penumbra’s technologies are used by interventional neuroradiologists, neurosurgeons and interventional cardiologists in hospitals and clinics around the world.

At the core of Penumbra’s portfolio is its mechanical thrombectomy platform, which includes aspiration catheters and accessory devices engineered to remove blood clots in acute stroke cases.