Alps Advisors Inc. Purchases Shares of 1,670 Penumbra, Inc. $PEN

Alps Advisors 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 & Exchange Commission. The fund acquired 1,670 shares of the company’s stock, valued at approximately $423,000.

A number of other large investors have also recently made changes to their positions in the stock. Mather Group LLC. acquired a new position in shares of Penumbra in the third quarter valued at about $25,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Penumbra during the second quarter worth about $30,000. Parkside Financial Bank & Trust boosted its position in Penumbra by 70.2% in the second quarter. Parkside Financial Bank & Trust now owns 160 shares of the company’s stock valued at $41,000 after buying an additional 66 shares during the last quarter. Covestor Ltd increased its holdings in Penumbra by 53.0% in the 3rd quarter. Covestor Ltd now owns 179 shares of the company’s stock worth $46,000 after buying an additional 62 shares during the period. Finally, True Wealth Design LLC raised its position in Penumbra by 68.7% during the 3rd quarter. True Wealth Design LLC now owns 253 shares of the company’s stock worth $64,000 after buying an additional 103 shares during the last quarter. 88.88% of the stock is owned by hedge funds and other institutional investors.

Penumbra Stock Up 0.2%

PEN stock opened at $339.56 on Friday. Penumbra, Inc. has a 52 week low of $221.26 and a 52 week high of $362.41. The company has a quick ratio of 4.18, a current ratio of 6.73 and a debt-to-equity ratio of 0.02. The firm has a 50-day simple moving average of $328.84 and a 200-day simple moving average of $285.39. The stock has a market capitalization of $13.30 billion, a P/E ratio of 81.23, a P/E/G ratio of 2.09 and a beta of 0.82.

Insider Transactions at Penumbra

In other news, Director Arani Bose sold 15,000 shares of the stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $308.82, for a total value of $4,632,300.00. Following the completion of the sale, the director directly owned 258,462 shares in the company, valued at $79,818,234.84. This represents a 5.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Harpreet Grewal sold 186 shares of the firm’s stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $312.64, for a total transaction of $58,151.04. Following the completion of the transaction, the director directly owned 8,230 shares in the company, valued at approximately $2,573,027.20. This represents a 2.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 33,172 shares of company stock valued at $10,015,279 in the last 90 days. 4.20% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have recently commented on PEN shares. Bank of America upped their price objective on shares of Penumbra from $320.00 to $370.00 and gave the company a “buy” rating in a report on Monday, January 5th. Piper Sandler lowered shares of Penumbra from an “overweight” rating to a “hold” rating and set a $374.00 price target on the stock. in a report on Thursday, January 15th. Needham & Company LLC lowered Penumbra from a “buy” rating to a “hold” rating in a research note on Friday, January 16th. Wells Fargo & Company reissued an “equal weight” rating and issued a $374.00 price objective on shares of Penumbra in a report on Thursday, January 15th. Finally, Wall Street Zen lowered Penumbra from a “buy” rating to a “hold” rating in a report on Saturday, January 17th. Four research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $358.00.

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.