California State Teachers Retirement System Sells 2,705 Shares of Penumbra, Inc. (PEN)

California State Teachers Retirement System lessened its holdings in shares of Penumbra, Inc. (NYSE:PEN) by 4.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,978 shares of the company’s stock after selling 2,705 shares during the period. California State Teachers Retirement System owned approximately 0.15% of Penumbra worth $4,561,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of PEN. BlackRock Inc. raised its holdings in shares of Penumbra by 82,715.0% during the first quarter. BlackRock Inc. now owns 1,733,318 shares of the company’s stock worth $144,643,000 after purchasing an additional 1,731,225 shares during the last quarter. Eagle Asset Management Inc. grew its position in Penumbra by 168.7% during the second quarter. Eagle Asset Management Inc. now owns 510,918 shares of the company’s stock valued at $44,833,000 after buying an additional 320,794 shares during the period. American Century Companies Inc. acquired a new stake in Penumbra during the second quarter valued at $26,824,000. Vanguard Group Inc. grew its position in Penumbra by 9.5% during the first quarter. Vanguard Group Inc. now owns 2,118,227 shares of the company’s stock valued at $176,767,000 after buying an additional 183,706 shares during the period. Finally, Russell Investments Group Ltd. grew its position in Penumbra by 208.0% during the second quarter. Russell Investments Group Ltd. now owns 160,033 shares of the company’s stock valued at $14,043,000 after buying an additional 108,080 shares during the period. 71.26% of the stock is owned by hedge funds and other institutional investors.

Penumbra (NYSE:PEN) last announced its quarterly earnings results on Tuesday, August 8th. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.05). The business had revenue of $80.60 million during the quarter, compared to the consensus estimate of $77.16 million. Penumbra had a negative net margin of 2.78% and a negative return on equity of 2.58%. The business’s revenue was up 23.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.01 EPS.

In other news, Director Thomas Wilder sold 345 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $90.20, for a total value of $31,119.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Robert D. Evans sold 10,000 shares of the stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $85.15, for a total transaction of $851,500.00. Following the completion of the transaction, the executive vice president now owns 11,704 shares of the company’s stock, valued at approximately $996,595.60. The disclosure for this sale can be found here. Insiders sold a total of 46,898 shares of company stock valued at $4,141,365 in the last quarter. Insiders own 13.50% of the company’s stock.

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Several research firms recently commented on PEN. BidaskClub lowered shares of Penumbra from a “buy” rating to a “hold” rating in a research report on Friday, August 18th. Canaccord Genuity restated a “buy” rating and set a $100.00 price target (up previously from $94.00) on shares of Penumbra in a research report on Wednesday, August 9th. BMO Capital Markets restated a “buy” rating and set a $96.00 price target on shares of Penumbra in a research report on Friday, October 13th. Finally, Zacks Investment Research lowered shares of Penumbra from a “hold” rating to a “sell” rating in a research report on Saturday, August 12th.

About Penumbra

Penumbra, Inc is a healthcare company focused on interventional therapies. The Company designs, develops, manufactures and markets medical devices. It has a portfolio of products that addresses medical conditions and clinical needs across two markets, neuro and peripheral vascular. The conditions that its products address include ischemic stroke, hemorrhagic stroke and various peripheral vascular conditions that can be treated through thrombectomy and embolization procedures.

Institutional Ownership by Quarter for Penumbra (NYSE:PEN)

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