Simplify Asset Management Inc. Purchases 7,485 Shares of Penumbra, Inc. $PEN

Simplify Asset Management Inc. boosted its position in Penumbra, Inc. (NYSE:PEN) by 89.7% during the fourth quarter, Holdings Channel reports. The fund owned 15,827 shares of the company’s stock after acquiring an additional 7,485 shares during the period. Simplify Asset Management Inc.’s holdings in Penumbra were worth $4,921,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Thrivent Financial for Lutherans increased its stake in Penumbra by 13.7% in the third quarter. Thrivent Financial for Lutherans now owns 367,062 shares of the company’s stock valued at $92,984,000 after acquiring an additional 44,185 shares during the last quarter. William Blair Investment Management LLC bought a new position in Penumbra in the fourth quarter valued at $107,567,000. AQR Capital Management LLC increased its stake in Penumbra by 139.4% in the second quarter. AQR Capital Management LLC now owns 330,990 shares of the company’s stock valued at $84,939,000 after acquiring an additional 192,734 shares during the last quarter. Holocene Advisors LP bought a new position in Penumbra in the third quarter valued at $78,585,000. Finally, Dimensional Fund Advisors LP increased its stake in Penumbra by 41.1% in the third quarter. Dimensional Fund Advisors LP now owns 296,584 shares of the company’s stock valued at $75,126,000 after acquiring an additional 86,335 shares during the last quarter. Institutional investors own 88.88% of the company’s stock.

Penumbra Stock Performance

NYSE PEN opened at $328.46 on Monday. The company has a 50-day simple moving average of $329.87 and a two-hundred day simple moving average of $322.45. The company has a quick ratio of 3.95, a current ratio of 6.02 and a debt-to-equity ratio of 0.01. Penumbra, Inc. has a 12-month low of $221.26 and a 12-month high of $362.41. The firm has a market cap of $12.92 billion, a price-to-earnings ratio of 75.68, a PEG ratio of 2.01 and a beta of 0.74.

Penumbra (NYSE:PEN) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.06 by ($0.24). Penumbra had a net margin of 11.76% and a return on equity of 10.87%. The business had revenue of $374.76 million for the quarter, compared to analysts’ expectations of $370.47 million. During the same quarter in the previous year, the company earned $0.83 earnings per share. The business’s quarterly revenue was up 15.6% on a year-over-year basis. On average, equities analysts forecast that Penumbra, Inc. will post 5.08 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Wall Street Zen raised Penumbra to a “hold” rating in a research note on Saturday, May 9th. Evercore restated an “outperform” rating and set a $335.00 price target on shares of Penumbra in a research report on Thursday, May 7th. UBS Group restated a “neutral” rating and set a $374.00 price target on shares of Penumbra in a research report on Thursday, February 26th. Finally, Citigroup cut their price target on shares of Penumbra from $374.00 to $350.00 and set a “neutral” rating for the company in a research report on Thursday, May 7th. Three analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Penumbra has an average rating of “Hold” and an average price target of $361.33.

Insider Transactions at Penumbra

In other news, CFO Maggie Yuen sold 2,432 shares of the stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $342.30, for a total transaction of $832,473.60. Following the completion of the sale, the chief financial officer directly owned 18,353 shares in the company, valued at approximately $6,282,231.90. This represents a 11.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Harpreet Grewal sold 100 shares of the stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $328.22, for a total transaction of $32,822.00. Following the sale, the director owned 8,719 shares of the company’s stock, valued at approximately $2,861,750.18. This represents a 1.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 2.90% 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.