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

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

Several other institutional investors also recently bought and sold shares of the stock. True Wealth Design LLC acquired a new stake in Penumbra during the third quarter valued at $26,000. UMB Bank n.a. boosted 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. grew its position in shares of Penumbra by 208.0% during the 4th quarter. Mather Group LLC. now owns 308 shares of the company’s stock valued at $73,000 after acquiring an additional 208 shares during the period. Advisors Asset Management Inc. increased its stake in shares of Penumbra by 11.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 416 shares of the company’s stock valued at $81,000 after purchasing an additional 43 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its holdings in Penumbra by 25.0% in the 4th quarter. Jones Financial Companies Lllp now owns 375 shares of the company’s stock worth $89,000 after purchasing an additional 75 shares during the period. 88.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Piper Sandler reissued an “overweight” rating and issued a $330.00 price objective (up from $250.00) on shares of Penumbra in a report on Wednesday, February 19th. Truist Financial lifted their price target on shares of Penumbra from $285.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Wells Fargo & Company upped their price objective on shares of Penumbra from $275.00 to $305.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. Royal Bank of Canada lifted their target price on shares of Penumbra from $285.00 to $313.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Finally, Oppenheimer initiated coverage on shares of Penumbra in a research report on Tuesday, December 17th. They set an “outperform” rating and a $275.00 price target for the company. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $294.47.

Penumbra Price Performance

Penumbra stock opened at $276.24 on Tuesday. The business has a 50 day simple moving average of $270.69 and a 200-day simple moving average of $238.41. Penumbra, Inc. has a 12 month low of $148.00 and a 12 month high of $310.00. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.01 and a quick ratio of 3.25. The stock has a market capitalization of $10.64 billion, a PE ratio of 812.46, a price-to-earnings-growth ratio of 2.83 and a beta of 0.51.

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

Insiders Place Their Bets

In other Penumbra news, CAO Lambert Shiu sold 501 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $282.88, for a total value of $141,722.88. Following the sale, the chief accounting officer now owns 32,969 shares of the company’s stock, valued at $9,326,270.72. This represents a 1.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Harpreet Grewal sold 167 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $241.28, for a total value of $40,293.76. Following the completion of the sale, the director now directly owns 8,530 shares in the company, valued at approximately $2,058,118.40. The trade was a 1.92 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 79,918 shares of company stock worth $22,054,293. 5.00% of the stock is owned by company 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.