Proficio Capital Partners LLC Purchases Shares of 14,961 Penumbra, Inc. (NYSE:PEN)

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

Several other hedge funds have also modified their holdings of the stock. M&T Bank Corp boosted its position in shares of Penumbra by 8.0% in the fourth quarter. M&T Bank Corp now owns 1,560 shares of the company’s stock worth $370,000 after buying an additional 115 shares during the period. Atria Investments Inc purchased a new position in Penumbra in the 4th quarter worth approximately $221,000. Abbot Financial Management Inc. boosted its holdings in Penumbra by 5.3% in the 4th quarter. Abbot Financial Management Inc. now owns 2,865 shares of the company’s stock worth $680,000 after acquiring an additional 143 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Penumbra by 1.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 271,574 shares of the company’s stock valued at $64,493,000 after purchasing an additional 3,807 shares during the period. Finally, Jones Financial Companies Lllp lifted its position in shares of Penumbra by 25.0% during the fourth quarter. Jones Financial Companies Lllp now owns 375 shares of the company’s stock worth $89,000 after purchasing an additional 75 shares in the last quarter. 88.88% of the stock is owned by institutional investors and hedge funds.

Penumbra Price Performance

NYSE PEN opened at $276.24 on Tuesday. Penumbra, Inc. has a 1 year low of $148.00 and a 1 year high of $310.00. The business’s fifty day moving average is $270.69 and its two-hundred day moving average is $238.41. The stock has a market capitalization of $10.64 billion, a P/E ratio of 812.46, a P/E/G ratio of 2.83 and a beta of 0.51. 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 issued its quarterly earnings results on Tuesday, February 18th. The company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.09. Penumbra had a return on equity of 9.74% and a net margin of 1.17%. The firm had revenue of $315.52 million for the quarter, compared to analysts’ expectations of $311.63 million. On average, research analysts forecast that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PEN. StockNews.com downgraded Penumbra from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Citigroup lifted their price objective on Penumbra from $220.00 to $245.00 and gave the stock a “neutral” rating in a report on Wednesday, December 11th. JPMorgan Chase & Co. increased their target price on Penumbra from $230.00 to $285.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Oppenheimer began coverage on shares of Penumbra in a research note on Tuesday, December 17th. They issued an “outperform” rating and a $275.00 price target for the company. Finally, Canaccord Genuity Group increased their price objective on shares of Penumbra from $323.00 to $340.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Penumbra presently has an average rating of “Moderate Buy” and a consensus target price of $294.47.

Insider Activity

In other Penumbra news, CFO Maggie Yuen sold 2,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $286.00, for a total value of $572,000.00. Following the completion of the sale, the chief financial officer now owns 15,243 shares in the company, valued at $4,359,498. This represents a 11.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Adam Elsesser sold 15,000 shares of the company’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $242.96, for a total transaction of $3,644,400.00. Following the completion of the transaction, the chief executive officer now directly owns 837,582 shares in the company, valued at $203,498,922.72. This trade represents a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 79,918 shares of company stock worth $22,054,293. 5.00% of the stock is owned by corporate 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.