Aigen Investment Management LP Purchases New Stake in Penumbra, Inc. (NYSE:PEN)

Aigen Investment Management LP bought a new position in Penumbra, Inc. (NYSE:PEN - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,152 shares of the company's stock, valued at approximately $511,000.

A number of other hedge funds have also made changes to their positions in the company. FMR LLC increased its stake in shares of Penumbra by 2.1% in the third quarter. FMR LLC now owns 5,896,396 shares of the company's stock valued at $1,145,729,000 after buying an additional 121,465 shares in the last quarter. Champlain Investment Partners LLC lifted its position in shares of Penumbra by 20.6% during the third quarter. Champlain Investment Partners LLC now owns 1,547,972 shares of the company's stock worth $300,786,000 after purchasing an additional 264,122 shares in the last quarter. State Street Corp grew its stake in shares of 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 purchasing an additional 3,863 shares during the last quarter. RTW Investments LP increased its holdings in shares of Penumbra by 7.2% in the third 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. raised its position in Penumbra by 23.4% in the 4th quarter. Baillie Gifford & Co. now owns 730,233 shares of the company's stock worth $173,416,000 after purchasing an additional 138,387 shares during the last quarter. Institutional investors and hedge funds own 88.88% of the company's stock.

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Insider Buying and Selling at Penumbra

In other news, Director Harpreet Grewal sold 167 shares of the firm's stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $241.28, for a total transaction of $40,293.76. Following the completion of the sale, the director now owns 8,530 shares in the company, valued at approximately $2,058,118.40. This trade represents a 1.92 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Adam Elsesser sold 61,600 shares of the stock in a transaction dated 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 approximately $4,644,069.84. This represents 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 worth $22,054,293 over the last 90 days. Company insiders own 5.00% of the company's stock.

Penumbra Stock Up 2.1 %

Shares of Penumbra stock traded up $5.49 during trading hours on Tuesday, reaching $262.73. 508,890 shares of the company's stock were exchanged, compared to its average volume of 396,519. The company has a current ratio of 6.01, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02. The company has a 50 day moving average of $267.76 and a two-hundred day moving average of $236.14. The stock has a market cap of $10.12 billion, a P/E ratio of 772.74, a P/E/G ratio of 2.83 and a beta of 0.51. Penumbra, Inc. has a fifty-two week low of $148.00 and a fifty-two week high of $310.00.

Penumbra (NYSE:PEN - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The company reported $0.97 EPS for the quarter, beating analysts' consensus estimates of $0.88 by $0.09. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. The firm had revenue of $315.52 million during the quarter, compared to analysts' expectations of $311.63 million. On average, sell-side analysts forecast that Penumbra, Inc. will post 3.67 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PEN has been the topic of several research reports. Oppenheimer started coverage on Penumbra in a report on Tuesday, December 17th. They issued an "outperform" rating and a $275.00 price target on the stock. Piper Sandler reaffirmed an "overweight" rating and set a $330.00 target price (up previously from $250.00) on shares of Penumbra in a report on Wednesday, February 19th. Royal Bank of Canada upped their target price on shares of Penumbra from $285.00 to $313.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. BTIG Research raised their price target on Penumbra from $232.00 to $270.00 and gave the stock a "buy" rating in a research report on Tuesday, November 26th. Finally, Citigroup upped their price objective on Penumbra from $220.00 to $245.00 and gave the company a "neutral" rating in a report on Wednesday, December 11th. Four analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $292.64.

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.