Simplify Asset Management Inc. Invests $2.11 Million in Penumbra, Inc. $PEN

Simplify Asset Management Inc. acquired a new position in shares of Penumbra, Inc. (NYSE:PEN) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,342 shares of the company’s stock, valued at approximately $2,113,000.

A number of other hedge funds have also bought and sold shares of PEN. Newbridge Financial Services Group Inc. bought a new stake in Penumbra during the second quarter valued at $30,000. Parkside Financial Bank & Trust grew its stake in Penumbra by 70.2% during the second quarter. Parkside Financial Bank & Trust now owns 160 shares of the company’s stock worth $41,000 after purchasing an additional 66 shares during the period. State of Wyoming bought a new stake in Penumbra in the second quarter worth approximately $64,000. AlphaQuest LLC acquired a new position in Penumbra in the first quarter valued at approximately $66,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Penumbra by 209.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 272 shares of the company’s stock worth $70,000 after buying an additional 184 shares in the last quarter. Institutional investors own 88.88% of the company’s stock.

Penumbra Stock Down 0.6%

PEN stock opened at $314.92 on Tuesday. The firm has a market capitalization of $12.33 billion, a PE ratio of 75.34, a P/E/G ratio of 2.61 and a beta of 0.66. The company has a quick ratio of 4.18, a current ratio of 6.73 and a debt-to-equity ratio of 0.02. Penumbra, Inc. has a twelve month low of $221.26 and a twelve month high of $321.38. The stock’s 50 day moving average is $282.22 and its 200-day moving average is $263.49.

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

Analyst Ratings Changes

Several brokerages recently issued reports on PEN. Royal Bank Of Canada reissued an “outperform” rating and set a $355.00 target price on shares of Penumbra in a research note on Wednesday, December 17th. Evercore ISI reissued an “outperform” rating and set a $286.00 price objective on shares of Penumbra in a research report on Thursday, November 6th. BTIG Research reaffirmed a “buy” rating and set a $320.00 price target on shares of Penumbra in a research note on Monday, October 27th. Truist Financial increased their price target on Penumbra from $312.00 to $370.00 and gave the stock a “buy” rating in a report on Thursday, December 18th. Finally, Wall Street Zen upgraded Penumbra from a “hold” rating to a “buy” rating in a report on Saturday, December 20th. One research 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’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $333.47.

Insider Activity

In other Penumbra news, EVP Johanna Roberts sold 300 shares of the stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $300.13, for a total value of $90,039.00. Following the completion of the sale, the executive vice president owned 63,836 shares in the company, valued at approximately $19,159,098.68. This trade represents a 0.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Harpreet Grewal sold 100 shares of Penumbra stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $292.98, for a total value of $29,298.00. Following the sale, the director owned 8,416 shares in the company, valued at $2,465,719.68. This trade represents a 1.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 34,744 shares of company stock worth $10,387,474 over the last quarter. Insiders own 4.20% of the company’s stock.

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.