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) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 14,961 shares of the company’s stock, valued at approximately $3,553,000.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Robert W. Baird raised their price objective on shares of Penumbra from $305.00 to $328.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. UBS Group raised their price objective on shares of Penumbra from $305.00 to $320.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Citigroup lifted their price target on shares of Penumbra from $220.00 to $245.00 and gave the company a “neutral” rating in a research report on Wednesday, December 11th. Morgan Stanley lifted their price target on shares of Penumbra from $240.00 to $260.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 19th. Finally, Piper Sandler reiterated an “overweight” rating and set a $330.00 price target (up from $250.00) on shares of Penumbra in a research report on Wednesday, February 19th. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Penumbra has an average rating of “Moderate Buy” and an average target price of $292.64.

Penumbra Trading Down 0.7 %

NYSE PEN opened at $283.97 on Wednesday. The firm has a 50 day simple moving average of $265.03 and a 200-day simple moving average of $233.89. 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, Inc. has a one year low of $148.00 and a one year high of $310.00. The firm has a market cap of $10.94 billion, a price-to-earnings ratio of 835.19, a PEG ratio of 2.83 and a beta of 0.53.

Penumbra (NYSE:PEN) last posted its quarterly earnings data on Tuesday, February 18th. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.88 by $0.09. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. The business had revenue of $315.52 million during the quarter, compared to analyst estimates of $311.63 million. Equities research analysts anticipate that Penumbra, Inc. will post 3.67 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Adam Elsesser sold 15,000 shares of Penumbra stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $242.96, for a total value of $3,644,400.00. Following the completion of the transaction, the chief executive officer now owns 837,582 shares in the company, valued at $203,498,922.72. The trade was a 1.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Harpreet Grewal sold 167 shares of Penumbra stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $241.28, for a total transaction of $40,293.76. Following the completion of the transaction, the director now owns 8,530 shares of the company’s stock, valued at $2,058,118.40. This represents a 1.92 % decrease in their position. The disclosure for this sale can be found here. 5.00% of the stock is owned by insiders.

Penumbra Company Profile

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.