Texas Permanent School Fund acquired a new stake in shares of Penumbra Inc (NYSE:PEN) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 21,787 shares of the company’s stock, valued at approximately $2,930,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of PEN. HM Payson & Co. bought a new stake in shares of Penumbra in the second quarter worth $80,000. Machina Capital S.A.S. bought a new stake in shares of Penumbra in the second quarter worth $155,000. CENTRAL TRUST Co bought a new stake in shares of Penumbra in the second quarter worth $171,000. Ellington Management Group LLC bought a new stake in shares of Penumbra in the second quarter worth $208,000. Finally, Macquarie Group Ltd. bought a new stake in Penumbra during the second quarter valued at $240,000. Institutional investors own 86.36% of the company’s stock.

PEN has been the subject of several recent research reports. Zacks Investment Research lowered shares of Penumbra from a “buy” rating to a “hold” rating in a research note on Tuesday, October 29th. Wells Fargo & Co boosted their target price on shares of Penumbra from $180.00 to $185.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. ValuEngine lowered shares of Penumbra from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Royal Bank of Canada set a $174.00 target price on shares of Penumbra and gave the company a “buy” rating in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Penumbra presently has an average rating of “Buy” and a consensus target price of $172.83.

In related news, CEO Adam Elsesser sold 8,000 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $149.24, for a total value of $1,193,920.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Don W. Kassing sold 1,273 shares of the company’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $144.09, for a total transaction of $183,426.57. Following the completion of the sale, the director now directly owns 2,326 shares of the company’s stock, valued at approximately $335,153.34. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,026 shares of company stock valued at $6,984,470. Corporate insiders own 9.60% of the company’s stock.

PEN stock opened at $172.93 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 6.23 and a quick ratio of 4.33. Penumbra Inc has a 1-year low of $110.84 and a 1-year high of $185.70. The firm has a fifty day moving average price of $148.22 and a two-hundred day moving average price of $150.67. The firm has a market cap of $5.71 billion, a price-to-earnings ratio of 339.08, a PEG ratio of 9.46 and a beta of 0.73.

Penumbra (NYSE:PEN) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.07. Penumbra had a net margin of 3.03% and a return on equity of 6.80%. The company had revenue of $139.50 million during the quarter, compared to the consensus estimate of $133.98 million. During the same quarter in the previous year, the company posted $0.17 earnings per share. The company’s revenue for the quarter was up 24.8% compared to the same quarter last year. As a group, analysts expect that Penumbra Inc will post 0.89 EPS for the current fiscal year.

About Penumbra

Penumbra, Inc designs, develops, manufactures, and markets medical devices in the United States, Europe, Canada, Australia, Japan, and internationally. The company offers neurovascular access systems designed to provide intracranial access for use in a range of neurovascular therapies under the Neuron, Neuron MAX, Select, BENCHMARK, DDC, and PX SLIM brands; aspiration based thrombectomy systems and accessory devices, including revascularization device for mechanical thrombectomy, such as Penumbra System under the ACE and the 3D Revascularization Device brands.

Recommended Story: The basics of gap trading strategies

Want to see what other hedge funds are holding PEN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Penumbra Inc (NYSE:PEN).

Institutional Ownership by Quarter for Penumbra (NYSE:PEN)

Receive News & Ratings for Penumbra Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Penumbra and related companies with MarketBeat.com's FREE daily email newsletter.