Proficio Capital Partners LLC Invests $3.55 Million in Penumbra, Inc. (NYSE:PEN)

Proficio Capital Partners LLC purchased a new position in Penumbra, Inc. (NYSE:PEN) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 14,961 shares of the company’s stock, valued at approximately $3,553,000.

Several other hedge funds have also recently modified their holdings of PEN. True Wealth Design LLC purchased a new stake in shares of Penumbra in the 3rd quarter worth approximately $26,000. UMB Bank n.a. raised its stake in shares of Penumbra by 57.4% during the 4th quarter. UMB Bank n.a. now owns 192 shares of the company’s stock worth $46,000 after acquiring an additional 70 shares in the last quarter. Mather Group LLC. raised its stake in shares of Penumbra by 208.0% during the 4th quarter. Mather Group LLC. now owns 308 shares of the company’s stock worth $73,000 after acquiring an additional 208 shares in the last quarter. Advisors Asset Management Inc. raised its stake in shares of Penumbra by 11.5% during the 3rd quarter. Advisors Asset Management Inc. now owns 416 shares of the company’s stock worth $81,000 after acquiring an additional 43 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Penumbra by 160.8% during the 4th quarter. GAMMA Investing LLC now owns 446 shares of the company’s stock worth $106,000 after acquiring an additional 275 shares in the last quarter. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Penumbra Stock Performance

Shares of NYSE PEN opened at $283.97 on Wednesday. The company’s fifty day moving average price is $265.03 and its 200 day moving average price is $233.89. Penumbra, Inc. has a 1 year low of $148.00 and a 1 year high of $310.00. The company has a market capitalization of $10.94 billion, a PE ratio of 835.19, a price-to-earnings-growth ratio of 2.83 and a beta of 0.53. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.25 and a current ratio of 6.01.

Penumbra (NYSE:PEN) last announced its quarterly earnings results on Tuesday, February 18th. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.09. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. The firm had revenue of $315.52 million for the quarter, compared to the consensus estimate of $311.63 million. On average, research analysts predict that Penumbra, Inc. will post 3.67 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Robert W. Baird boosted their price objective on shares of Penumbra from $305.00 to $328.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. JPMorgan Chase & Co. boosted their price objective on shares of Penumbra from $230.00 to $285.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. Piper Sandler reiterated an “overweight” rating and set a $330.00 price objective (up previously from $250.00) on shares of Penumbra in a research note on Wednesday, February 19th. Canaccord Genuity Group boosted their price objective on shares of Penumbra from $323.00 to $340.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Finally, BTIG Research boosted their price objective on shares of Penumbra from $232.00 to $270.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $292.64.

Insider Buying and Selling

In other Penumbra news, Director Harpreet Grewal sold 167 shares of the stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $241.28, for a total transaction of $40,293.76. Following the transaction, the director now directly owns 8,530 shares of the company’s stock, valued at $2,058,118.40. This trade represents a 1.92 % 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, CEO Adam Elsesser sold 15,000 shares of the stock in a transaction on Friday, December 20th. The shares were sold at an average price of $242.96, for a total transaction of $3,644,400.00. Following the transaction, the chief executive officer now directly owns 837,582 shares in the company, valued at approximately $203,498,922.72. The trade was a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.00% of the stock is currently owned by insiders.

About Penumbra

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.