Twin Tree Management LP Buys New Stake in Penumbra, Inc. (NYSE:PEN)

Twin Tree Management LP bought a new stake in shares of Penumbra, Inc. (NYSE:PEN) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 8,211 shares of the company’s stock, valued at approximately $1,950,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. FMR LLC lifted its position in Penumbra by 2.1% during the third quarter. FMR LLC now owns 5,896,396 shares of the company’s stock valued at $1,145,729,000 after acquiring an additional 121,465 shares during the last quarter. Champlain Investment Partners LLC lifted its position in Penumbra by 20.6% during the third quarter. Champlain Investment Partners LLC now owns 1,547,972 shares of the company’s stock valued at $300,786,000 after acquiring an additional 264,122 shares during the last quarter. State Street Corp lifted its position in Penumbra by 0.3% during the third quarter. State Street Corp now owns 1,236,671 shares of the company’s stock valued at $240,298,000 after acquiring an additional 3,863 shares during the last quarter. RTW Investments LP increased its stake in Penumbra by 7.2% during the 3rd quarter. RTW Investments LP now owns 795,750 shares of the company’s stock valued at $154,622,000 after purchasing an additional 53,645 shares in the last quarter. Finally, Baillie Gifford & Co. increased its stake in Penumbra by 23.4% during the 4th quarter. Baillie Gifford & Co. now owns 730,233 shares of the company’s stock valued at $173,416,000 after purchasing an additional 138,387 shares in the last quarter. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Penumbra Stock Down 0.2 %

Shares of Penumbra stock opened at $275.40 on Wednesday. Penumbra, Inc. has a 52-week low of $148.00 and a 52-week high of $310.00. The company has a 50 day moving average of $271.17 and a 200 day moving average of $238.92. 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 company has a market capitalization of $10.61 billion, a P/E ratio of 810.01, a P/E/G ratio of 2.83 and a beta of 0.51.

Penumbra (NYSE:PEN) last issued its quarterly earnings data on Tuesday, February 18th. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.09. The business had revenue of $315.52 million during the quarter, compared to the consensus estimate of $311.63 million. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. As a group, research analysts forecast that Penumbra, Inc. will post 3.67 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. UBS Group upped their price target on shares of Penumbra from $305.00 to $320.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. BTIG Research increased their price target on shares of Penumbra from $232.00 to $270.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Oppenheimer initiated coverage on shares of Penumbra in a report on Tuesday, December 17th. They set an “outperform” rating and a $275.00 price target on the stock. Robert W. Baird increased their price objective on shares of Penumbra from $305.00 to $328.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Finally, Morgan Stanley increased their price objective on shares of Penumbra from $240.00 to $260.00 and gave the company an “equal weight” rating in a report on Wednesday, February 19th. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $294.47.

Insider Activity

In other news, Director Harpreet Grewal sold 167 shares of Penumbra stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $241.28, for a total value of $40,293.76. Following the transaction, the director now directly owns 8,530 shares of the company’s stock, valued at $2,058,118.40. The trade was a 1.92 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Adam Elsesser sold 61,600 shares of Penumbra stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $283.59, for a total transaction of $17,469,144.00. Following the completion of the transaction, 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 disclosure for this sale can be found here. Insiders have sold 79,918 shares of company stock valued at $22,054,293 in the last ninety days. 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.