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

Polar Asset Management Partners Inc. boosted its position in Penumbra, Inc. (NYSE:PEN) by 10.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 122,126 shares of the company’s stock after acquiring an additional 11,605 shares during the quarter. Polar Asset Management Partners Inc.’s holdings in Penumbra were worth $29,002,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Quantinno Capital Management LP grew its stake in shares of Penumbra by 497.3% during the 4th quarter. Quantinno Capital Management LP now owns 9,031 shares of the company’s stock worth $2,145,000 after purchasing an additional 7,519 shares during the period. Meridiem Capital Partners LP purchased a new stake in Penumbra during the fourth quarter worth about $7,155,000. Lazard Asset Management LLC grew its position in Penumbra by 38.0% during the fourth quarter. Lazard Asset Management LLC now owns 3,827 shares of the company’s stock worth $908,000 after buying an additional 1,054 shares during the period. Jefferies Financial Group Inc. acquired a new position in Penumbra during the fourth quarter worth about $760,000. Finally, Gotham Asset Management LLC purchased a new position in Penumbra in the fourth quarter valued at about $275,000. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Insider Buying and Selling

In related news, CAO Lambert Shiu sold 501 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $282.88, for a total value of $141,722.88. Following the completion of the sale, the chief accounting officer now directly owns 32,969 shares in the company, valued at approximately $9,326,270.72. The trade was a 1.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Johanna Roberts sold 600 shares of the stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $300.01, for a total transaction of $180,006.00. Following the transaction, the executive vice president now directly owns 66,159 shares in the company, valued at approximately $19,848,361.59. This represents a 0.90% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 159,996 shares of company stock worth $45,228,678. 4.20% of the stock is owned by company insiders.

Penumbra Stock Down 2.2%

Shares of NYSE PEN opened at $289.52 on Thursday. The firm has a market cap of $11.21 billion, a P/E ratio of 851.53, a price-to-earnings-growth ratio of 2.83 and a beta of 0.53. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.25 and a current ratio of 6.01. Penumbra, Inc. has a 1 year low of $148.00 and a 1 year high of $310.00. The firm’s 50 day moving average price is $278.62 and its 200 day moving average price is $262.40.

Penumbra (NYSE:PEN) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $0.83 earnings per share for the quarter, topping 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 return on equity of 9.74% and a net margin of 1.17%. The business’s revenue for the quarter was up 16.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.41 EPS. As a group, sell-side analysts anticipate that Penumbra, Inc. will post 3.67 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Piper Sandler reaffirmed an “overweight” rating and issued a $330.00 price objective (up from $250.00) on shares of Penumbra in a research note on Wednesday, February 19th. Truist Financial raised their price target on Penumbra from $315.00 to $330.00 and gave the company a “buy” rating in a research report on Thursday, April 24th. StockNews.com upgraded shares of Penumbra from a “hold” rating to a “buy” rating in a research report on Thursday, April 24th. JPMorgan Chase & Co. lifted their target price on shares of Penumbra from $230.00 to $285.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. Finally, Robert W. Baird upped their price target on shares of Penumbra from $316.00 to $325.00 and gave the company an “outperform” rating in a report on Thursday, April 24th. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Penumbra has a consensus rating of “Moderate Buy” and an average price target of $302.40.

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.