Polar Asset Management Partners Inc. Has $29 Million Stock Holdings in Penumbra, Inc. (NYSE:PEN)

Polar Asset Management Partners Inc. raised its stake in Penumbra, Inc. (NYSE:PEN - Free Report) by 10.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 122,126 shares of the company's stock after acquiring an additional 11,605 shares during the quarter. Polar Asset Management Partners Inc. owned approximately 0.32% of Penumbra worth $29,002,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Penumbra in the 4th quarter worth about $54,396,000. T. Rowe Price Investment Management Inc. boosted its position in Penumbra by 47.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 707,061 shares of the company's stock valued at $167,913,000 after buying an additional 227,506 shares during the last quarter. Baillie Gifford & Co. lifted its stake in shares of Penumbra by 23.4% in the fourth quarter. Baillie Gifford & Co. now owns 730,233 shares of the company's stock worth $173,416,000 after acquiring an additional 138,387 shares in the last quarter. Adage Capital Partners GP L.L.C. purchased a new position in shares of Penumbra during the 4th quarter valued at approximately $23,866,000. Finally, Baird Financial Group Inc. boosted its stake in Penumbra by 43.9% during the 4th quarter. Baird Financial Group Inc. now owns 280,198 shares of the company's stock valued at $66,541,000 after acquiring an additional 85,542 shares during the last quarter. 88.88% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PEN has been the topic of several research analyst reports. Royal Bank of Canada raised their price objective on Penumbra from $315.00 to $330.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Robert W. Baird upped their target price on Penumbra from $316.00 to $325.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Morgan Stanley lifted their price target on shares of Penumbra from $240.00 to $260.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 19th. UBS Group reaffirmed a "buy" rating and set a $330.00 price objective (up from $320.00) on shares of Penumbra in a research note on Thursday, April 24th. Finally, Wells Fargo & Company raised their target price on Penumbra from $305.00 to $315.00 and gave the stock an "overweight" rating in a research report on Thursday, April 24th. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $302.40.

Penumbra Stock Performance

Shares of PEN stock traded down $8.55 during trading on Wednesday, reaching $264.08. The company had a trading volume of 752,148 shares, compared to its average volume of 445,403. The firm's 50 day simple moving average is $279.26 and its two-hundred day simple moving average is $265.67. Penumbra, Inc. has a one year low of $148.00 and a one year high of $310.00. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.01 and a quick ratio of 3.25. The company has a market capitalization of $10.23 billion, a PE ratio of 776.71, a PEG ratio of 2.83 and a beta of 0.53.

Penumbra (NYSE:PEN - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $0.83 EPS for the quarter, beating analysts' consensus estimates of $0.66 by $0.17. The company had revenue of $324.14 million for the quarter, compared to analyst estimates of $315.72 million. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. The company's quarterly revenue was up 16.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.41 earnings per share. Sell-side analysts forecast that Penumbra, Inc. will post 3.67 earnings per share for the current year.

Insider Buying and Selling

In other Penumbra news, EVP Johanna Roberts sold 600 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $269.11, for a total value of $161,466.00. Following the completion of the transaction, the executive vice president now owns 66,353 shares of the company's stock, valued at $17,856,255.83. This represents a 0.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Thomas Wilder sold 360 shares of the firm's stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $264.58, for a total value of $95,248.80. Following the completion of the sale, the director now owns 4,533 shares of the company's stock, valued at $1,199,341.14. This represents a 7.36% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 176,696 shares of company stock worth $50,207,745 in the last quarter. 5.00% of the stock is currently owned by company insiders.

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.