Simplify Asset Management Inc. Buys Shares of 8,342 Penumbra, Inc. $PEN

Simplify Asset Management Inc. acquired a new position in shares of Penumbra, Inc. (NYSE:PEN) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 8,342 shares of the company’s stock, valued at approximately $2,113,000.

Several other large investors have also added to or reduced their stakes in the stock. Newbridge Financial Services Group Inc. purchased a new stake in shares of Penumbra in the second quarter worth about $30,000. Parkside Financial Bank & Trust increased its holdings in Penumbra by 70.2% during the 2nd quarter. Parkside Financial Bank & Trust now owns 160 shares of the company’s stock worth $41,000 after acquiring an additional 66 shares during the period. State of Wyoming bought a new stake in Penumbra during the 2nd quarter worth approximately $64,000. AlphaQuest LLC purchased a new stake in Penumbra in the 1st quarter worth approximately $66,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in Penumbra by 209.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 272 shares of the company’s stock valued at $70,000 after purchasing an additional 184 shares during the period. Institutional investors own 88.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Citigroup upgraded Penumbra from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $285.00 to $350.00 in a research report on Thursday, December 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of Penumbra in a research report on Monday, December 22nd. Needham & Company LLC upped their price objective on shares of Penumbra from $326.00 to $388.00 and gave the stock a “buy” rating in a research report on Wednesday, December 17th. Wells Fargo & Company assumed coverage on shares of Penumbra in a research report on Tuesday, November 18th. They set an “underweight” rating for the company. Finally, Truist Financial increased their price target on shares of Penumbra from $312.00 to $370.00 and gave the stock a “buy” rating in a report on Thursday, December 18th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $333.47.

Penumbra Trading Down 0.6%

PEN stock opened at $314.92 on Tuesday. The company has a market capitalization of $12.33 billion, a PE ratio of 75.34, a price-to-earnings-growth ratio of 2.61 and a beta of 0.66. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.18 and a current ratio of 6.73. Penumbra, Inc. has a one year low of $221.26 and a one year high of $321.38. The company’s 50 day moving average price is $282.22 and its two-hundred day moving average price is $263.49.

Penumbra (NYSE:PEN) last released its earnings results on Wednesday, November 5th. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.90 by $0.07. The company had revenue of $354.69 million for the quarter, compared to analyst estimates of $340.77 million. Penumbra had a net margin of 12.30% and a return on equity of 11.35%. The firm’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.85 EPS. As a group, analysts predict that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Johanna Roberts sold 1,800 shares of the company’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $300.06, for a total transaction of $540,108.00. Following the completion of the sale, the executive vice president directly owned 64,736 shares in the company, valued at $19,424,684.16. This represents a 2.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Arani Bose sold 15,000 shares of the company’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $308.82, for a total transaction of $4,632,300.00. Following the transaction, the director directly owned 258,462 shares of the company’s stock, valued at approximately $79,818,234.84. This trade represents a 5.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 34,744 shares of company stock valued at $10,387,474 over the last three months. 4.20% of the stock is owned by company insiders.

About Penumbra

Penumbra, Inc is a global healthcare company specializing in the development and manufacture of innovative medical devices that address neurovascular and peripheral vascular conditions. The company focuses on products designed to improve patient outcomes in acute ischemic stroke, aneurysm treatment and peripheral thrombectomy. Penumbra’s technologies are used by interventional neuroradiologists, neurosurgeons and interventional cardiologists in hospitals and clinics around the world.

At the core of Penumbra’s portfolio is its mechanical thrombectomy platform, which includes aspiration catheters and accessory devices engineered to remove blood clots in acute stroke cases.