Penumbra, Inc. (NYSE:PEN) Shares Bought by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. grew its holdings in Penumbra, Inc. (NYSE:PEN - Free Report) by 10.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 122,126 shares of the company's stock after purchasing an additional 11,605 shares during the period. Polar Asset Management Partners Inc. owned approximately 0.32% of Penumbra worth $29,002,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Barclays PLC raised its position in Penumbra by 16.5% in the third quarter. Barclays PLC now owns 18,025 shares of the company's stock valued at $3,502,000 after purchasing an additional 2,559 shares during the period. Pallas Capital Advisors LLC grew its stake in shares of Penumbra by 3.8% in the fourth quarter. Pallas Capital Advisors LLC now owns 1,108 shares of the company's stock valued at $263,000 after buying an additional 41 shares in the last quarter. Park Avenue Securities LLC grew its stake in shares of Penumbra by 18.6% in the fourth quarter. Park Avenue Securities LLC now owns 1,665 shares of the company's stock valued at $395,000 after buying an additional 261 shares in the last quarter. Diversify Wealth Management LLC raised its holdings in shares of Penumbra by 36.3% in the 4th quarter. Diversify Wealth Management LLC now owns 1,645 shares of the company's stock valued at $412,000 after buying an additional 438 shares during the period. Finally, UMB Bank n.a. lifted its stake in Penumbra by 57.4% during the 4th quarter. UMB Bank n.a. now owns 192 shares of the company's stock worth $46,000 after acquiring an additional 70 shares in the last quarter. 88.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Penumbra news, CEO Adam Elsesser sold 61,600 shares of Penumbra stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $283.59, for a total transaction of $17,469,144.00. Following the transaction, the chief executive officer now owns 16,376 shares of the company's stock, valued at $4,644,069.84. The trade was a 79.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Thomas Wilder sold 360 shares of the business's stock in a transaction that occurred on Monday, March 31st. The shares were 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 approximately $1,199,341.14. This represents a 7.36% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 159,996 shares of company stock worth $45,228,678. Corporate insiders own 4.20% of the company's stock.

Penumbra Stock Down 2.2%

Shares of NYSE PEN opened at $289.52 on Thursday. The business has a 50-day moving average of $278.62 and a two-hundred day moving average of $262.40. The company has a market capitalization of $11.21 billion, a price-to-earnings ratio of 851.53, a price-to-earnings-growth ratio of 2.83 and a beta of 0.53. Penumbra, Inc. has a 1 year low of $148.00 and a 1 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.

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

Analysts Set New Price Targets

PEN has been the subject of several research reports. Needham & Company LLC reaffirmed a "hold" rating on shares of Penumbra in a research report on Wednesday, February 19th. Piper Sandler restated an "overweight" rating and issued a $330.00 price objective (up previously from $250.00) on shares of Penumbra in a report on Wednesday, February 19th. JPMorgan Chase & Co. upped their target price on shares of Penumbra from $230.00 to $285.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 19th. UBS Group reissued a "buy" rating and issued a $330.00 price target (up previously from $320.00) on shares of Penumbra in a research report on Thursday, April 24th. Finally, Robert W. Baird boosted their price target on shares of Penumbra from $316.00 to $325.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Penumbra presently has an average rating of "Moderate Buy" and an average target price of $302.40.

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.

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