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

Polar Asset Management Partners Inc. lifted its position in Penumbra, Inc. (NYSE:PEN - Free Report) by 10.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 122,126 shares of the company's stock after purchasing an additional 11,605 shares during the quarter. Polar Asset Management Partners Inc. owned about 0.32% of Penumbra worth $29,002,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of PEN. UMB Bank n.a. lifted its stake in shares of Penumbra by 57.4% in the 4th quarter. UMB Bank n.a. now owns 192 shares of the company's stock valued at $46,000 after purchasing an additional 70 shares during the last quarter. Hurley Capital LLC acquired a new position in Penumbra during the 4th quarter worth about $56,000. Huntington National Bank lifted its stake in Penumbra by 138.7% during the 4th quarter. Huntington National Bank now owns 265 shares of the company's stock worth $63,000 after acquiring an additional 154 shares in the last quarter. Mather Group LLC. lifted its stake in Penumbra by 208.0% during the 4th quarter. Mather Group LLC. now owns 308 shares of the company's stock worth $73,000 after acquiring an additional 208 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted its stake in Penumbra by 25.0% during the 4th quarter. Jones Financial Companies Lllp now owns 375 shares of the company's stock worth $89,000 after acquiring an additional 75 shares in the last quarter. Hedge funds and other institutional investors own 88.88% of the company's stock.

Penumbra Stock Performance

NYSE:PEN traded down $0.59 during midday trading on Tuesday, reaching $280.97. The stock had a trading volume of 127,082 shares, compared to its average volume of 438,991. The firm has a fifty day simple moving average of $279.66 and a two-hundred day simple moving average of $264.29. Penumbra, Inc. has a 12-month low of $148.00 and a 12-month high of $310.00. The company has a quick ratio of 3.25, a current ratio of 6.01 and a debt-to-equity ratio of 0.02. The stock has a market cap of $10.88 billion, a P/E ratio of 826.49, a P/E/G ratio of 2.83 and a beta of 0.53.

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

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Robert W. Baird increased their price target on shares of Penumbra from $316.00 to $325.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Piper Sandler reissued an "overweight" rating and set a $330.00 price target (up previously from $250.00) on shares of Penumbra in a research report on Wednesday, February 19th. Canaccord Genuity Group increased their price target on shares of Penumbra from $323.00 to $340.00 and gave the stock a "buy" rating in a research report on Wednesday, February 19th. Stifel Nicolaus set a $318.00 price target on shares of Penumbra and gave the stock a "buy" rating in a research report on Thursday, April 24th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Penumbra in a research report on Wednesday, February 19th. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $302.40.

Insider Activity at Penumbra

In related 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 value of $17,469,144.00. Following the sale, the chief executive officer now directly owns 16,376 shares in the company, 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 Securities & Exchange Commission, which is available through this link. Also, Director Thomas Wilder sold 360 shares of Penumbra 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 in the company, valued at approximately $1,199,341.14. This trade represents a 7.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 176,696 shares of company stock worth $50,207,745 over the last three months. 4.20% of the stock is currently owned by corporate insiders.

Penumbra Profile

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.