Illinois Municipal Retirement Fund Increases Holdings in Penumbra, Inc. $PEN

Illinois Municipal Retirement Fund raised its stake in Penumbra, Inc. (NYSE:PEN) by 18.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,030 shares of the company’s stock after buying an additional 1,749 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Penumbra were worth $2,794,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Mather Group LLC. acquired a new position in shares of Penumbra during the 3rd quarter valued at about $25,000. Newbridge Financial Services Group Inc. purchased a new position in Penumbra during the second quarter worth about $30,000. Parkside Financial Bank & Trust raised its stake in Penumbra by 70.2% during the second quarter. Parkside Financial Bank & Trust now owns 160 shares of the company’s stock worth $41,000 after purchasing an additional 66 shares during the period. Covestor Ltd boosted its holdings in Penumbra by 53.0% in the 3rd quarter. Covestor Ltd now owns 179 shares of the company’s stock valued at $46,000 after purchasing an additional 62 shares during the last quarter. Finally, True Wealth Design LLC grew its stake in shares of Penumbra by 68.7% in the 3rd quarter. True Wealth Design LLC now owns 253 shares of the company’s stock valued at $64,000 after buying an additional 103 shares during the period. 88.88% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Penumbra

In other Penumbra news, EVP Johanna Roberts sold 300 shares of the firm’s stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $300.13, for a total value of $90,039.00. Following the completion of the transaction, the executive vice president owned 63,836 shares of the company’s stock, valued at $19,159,098.68. This trade represents a 0.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Harpreet Grewal sold 186 shares of the business’s stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $312.64, for a total transaction of $58,151.04. Following the completion of the transaction, the director owned 8,230 shares of the company’s stock, valued at approximately $2,573,027.20. This trade represents a 2.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 33,172 shares of company stock worth $10,015,279 over the last ninety days. Company insiders own 5.00% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on PEN. Wall Street Zen lowered shares of Penumbra from a “buy” rating to a “hold” rating in a research report on Saturday, January 17th. JPMorgan Chase & Co. upgraded Penumbra from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $275.00 to $370.00 in a research report on Thursday, December 18th. Needham & Company LLC lowered Penumbra from a “buy” rating to a “hold” rating in a research note on Friday, January 16th. Piper Sandler downgraded Penumbra from an “overweight” rating to a “hold” rating and set a $374.00 price objective for the company. in a research report on Thursday, January 15th. Finally, Royal Bank Of Canada lowered shares of Penumbra from an “outperform” rating to a “sector perform” rating and boosted their price objective for the company from $355.00 to $374.00 in a report on Tuesday, January 20th. Four research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. According to MarketBeat, Penumbra currently has an average rating of “Hold” and a consensus price target of $358.00.

Penumbra Price Performance

PEN opened at $339.56 on Monday. The stock’s 50-day moving average price is $328.84 and its 200 day moving average price is $285.61. Penumbra, Inc. has a 12-month low of $221.26 and a 12-month high of $362.41. The firm has a market cap of $13.30 billion, a price-to-earnings ratio of 81.23, a PEG ratio of 2.09 and a beta of 0.81. The company has a current ratio of 6.73, a quick ratio of 4.18 and a debt-to-equity ratio of 0.02.

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.