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

Twin Tree Management LP purchased a new position in shares of Penumbra, Inc. (NYSE:PEN) during the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 8,211 shares of the company’s stock, valued at approximately $1,950,000.

A number of other institutional investors and hedge funds have also made changes to their positions in PEN. KBC Group NV grew its stake in shares of Penumbra by 14.3% during the 3rd quarter. KBC Group NV now owns 1,018 shares of the company’s stock worth $198,000 after purchasing an additional 127 shares during the period. CIBC Asset Management Inc purchased a new stake in shares of Penumbra in the 3rd quarter worth about $218,000. Natixis Advisors LLC boosted its position in shares of Penumbra by 45.8% in the 3rd quarter. Natixis Advisors LLC now owns 27,725 shares of the company’s stock worth $5,387,000 after buying an additional 8,705 shares in the last quarter. LMR Partners LLP purchased a new stake in shares of Penumbra in the 3rd quarter worth about $2,330,000. Finally, Advisors Asset Management Inc. boosted its position in shares of Penumbra by 11.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 416 shares of the company’s stock worth $81,000 after buying an additional 43 shares in the last quarter. 88.88% of the stock is owned by institutional investors and hedge funds.

Penumbra Stock Performance

Shares of PEN opened at $275.40 on Wednesday. The business’s fifty day moving average price is $271.17 and its 200 day moving average price is $238.92. Penumbra, Inc. has a 12-month low of $148.00 and a 12-month high of $310.00. The stock has a market capitalization of $10.61 billion, a PE ratio of 810.01, a price-to-earnings-growth ratio of 2.83 and a beta of 0.51. 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 (NYSE:PEN) last announced its quarterly earnings data on Tuesday, February 18th. The company reported $0.97 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $315.52 million for the quarter, compared to analysts’ expectations of $311.63 million. Equities research analysts forecast that Penumbra, Inc. will post 3.67 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. StockNews.com lowered shares of Penumbra from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Oppenheimer initiated coverage on shares of Penumbra in a report on Tuesday, December 17th. They set an “outperform” rating and a $275.00 price objective on the stock. Morgan Stanley increased their target price on shares of Penumbra from $240.00 to $260.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 19th. JPMorgan Chase & Co. increased their price objective on shares of Penumbra from $230.00 to $285.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. Finally, 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 research report on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Penumbra currently has a consensus rating of “Moderate Buy” and an average target price of $294.47.

Insider Buying and Selling

In other Penumbra news, CEO Adam Elsesser sold 15,000 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $242.96, for a total value of $3,644,400.00. Following the sale, the chief executive officer now directly owns 837,582 shares in the company, valued at approximately $203,498,922.72. This trade represents a 1.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Lambert Shiu sold 501 shares of the firm’s stock in a transaction 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 owns 32,969 shares in the company, valued at $9,326,270.72. The trade was a 1.50 % 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 ninety days. 5.00% of the stock is owned by insiders.

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.