Twin Tree Management LP Invests $1.95 Million in Penumbra, Inc. (NYSE:PEN)

Twin Tree Management LP purchased a new stake in shares of Penumbra, Inc. (NYSE:PEN - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 8,211 shares of the company's stock, valued at approximately $1,950,000.

Several other hedge funds also recently modified their holdings of the company. Pallas Capital Advisors LLC raised its holdings in shares of Penumbra by 3.8% in the 4th quarter. Pallas Capital Advisors LLC now owns 1,108 shares of the company's stock worth $263,000 after purchasing an additional 41 shares in the last quarter. Advisors Asset Management Inc. grew its position in Penumbra by 11.5% in the third quarter. Advisors Asset Management Inc. now owns 416 shares of the company's stock worth $81,000 after buying an additional 43 shares during the last quarter. Pacer Advisors Inc. grew its position in Penumbra by 1.0% in the fourth quarter. Pacer Advisors Inc. now owns 5,721 shares of the company's stock worth $1,359,000 after buying an additional 57 shares during the last quarter. CIBC Asset Management Inc increased its holdings in shares of Penumbra by 5.4% in the fourth quarter. CIBC Asset Management Inc now owns 1,183 shares of the company's stock valued at $281,000 after buying an additional 61 shares in the last quarter. Finally, Corient Private Wealth LLC lifted its position in shares of Penumbra by 3.7% during the 4th quarter. Corient Private Wealth LLC now owns 1,695 shares of the company's stock valued at $403,000 after acquiring an additional 61 shares during the last quarter. 88.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Penumbra

In other Penumbra news, EVP Johanna Roberts sold 600 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $287.43, for a total value of $172,458.00. Following the completion of the sale, the executive vice president now owns 66,539 shares of the company's stock, valued at $19,125,304.77. The trade was a 0.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Harpreet Grewal sold 167 shares of the stock in a transaction dated 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 in the company, valued at approximately $2,058,118.40. This represents a 1.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 81,518 shares of company stock worth $22,994,979 in the last 90 days. 5.00% of the stock is owned by insiders.

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Penumbra Stock Down 0.1 %

PEN traded down $0.40 during trading on Friday, reaching $280.93. 737,365 shares of the stock traded hands, compared to its average volume of 397,364. 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, Inc. has a fifty-two week low of $148.00 and a fifty-two week high of $310.00. The stock's 50-day simple moving average is $272.70 and its two-hundred day simple moving average is $240.05. The stock has a market cap of $10.82 billion, a price-to-earnings ratio of 826.25, a price-to-earnings-growth ratio of 2.83 and a beta of 0.51.

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 the consensus estimate of $0.88 by $0.09. Penumbra had a return on equity of 9.74% and a net margin of 1.17%. The business had revenue of $315.52 million during the quarter, compared to analysts' expectations of $311.63 million. As a group, equities research analysts expect that Penumbra, Inc. will post 3.67 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on PEN shares. Citigroup lifted their target price on Penumbra from $220.00 to $245.00 and gave the stock a "neutral" rating in a report on Wednesday, December 11th. JPMorgan Chase & Co. lifted their price target on Penumbra from $230.00 to $285.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 19th. Truist Financial upped their price objective on shares of Penumbra from $285.00 to $325.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. StockNews.com downgraded shares of Penumbra from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. Finally, Needham & Company LLC restated a "hold" rating on shares of Penumbra in a research 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 company's stock. According to data from MarketBeat, Penumbra presently has an average rating of "Moderate Buy" and an average target price of $294.47.

Penumbra Company 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.