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

Proficio Capital Partners LLC acquired a new position in Penumbra, Inc. (NYSE:PEN - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 14,961 shares of the company's stock, valued at approximately $3,553,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PEN. Oppenheimer Asset Management Inc. raised its stake in shares of Penumbra by 4.0% in the third quarter. Oppenheimer Asset Management Inc. now owns 9,118 shares of the company's stock valued at $1,772,000 after buying an additional 347 shares during the period. KBC Group NV lifted its holdings in Penumbra by 14.3% during the third quarter. KBC Group NV now owns 1,018 shares of the company's stock valued at $198,000 after purchasing an additional 127 shares during the last quarter. CIBC Asset Management Inc bought a new position in Penumbra during the third quarter worth about $218,000. Natixis Advisors LLC raised its position in shares of Penumbra by 45.8% in the third quarter. Natixis Advisors LLC now owns 27,725 shares of the company's stock valued at $5,387,000 after purchasing an additional 8,705 shares during the period. Finally, Thrivent Financial for Lutherans lifted its stake in shares of Penumbra by 3,832.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 368,298 shares of the company's stock valued at $71,564,000 after buying an additional 358,932 shares in the last quarter. 88.88% of the stock is currently owned by hedge funds and other institutional investors.

Penumbra Stock Performance

Penumbra stock traded down $0.40 during midday trading on Friday, hitting $280.93. The stock had a trading volume of 732,793 shares, compared to its average volume of 397,080. The company has a market capitalization of $10.82 billion, a PE ratio of 826.25, a P/E/G ratio of 2.83 and a beta of 0.51. Penumbra, Inc. has a 52-week low of $148.00 and a 52-week high of $310.00. The firm's fifty day moving average is $272.09 and its two-hundred day moving average is $239.50. The company has a current ratio of 6.01, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02.

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Penumbra (NYSE:PEN - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $315.52 million for the quarter, compared to the consensus estimate of $311.63 million. Penumbra had a return on equity of 9.74% and a net margin of 1.17%. On average, research analysts forecast that Penumbra, Inc. will post 3.67 EPS for the current year.

Insider Transactions at Penumbra

In related news, CEO Adam Elsesser sold 61,600 shares of the company's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $283.59, for a total value of $17,469,144.00. Following the sale, the chief executive officer now owns 16,376 shares in the company, valued at $4,644,069.84. This represents a 79.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Maggie Yuen sold 2,000 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $286.00, for a total transaction of $572,000.00. Following the completion of the sale, the chief financial officer now directly owns 15,243 shares in the company, valued at approximately $4,359,498. The trade was a 11.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 64,918 shares of company stock valued at $18,409,893. 5.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

PEN has been the subject of several analyst reports. StockNews.com downgraded Penumbra from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Morgan Stanley upped their price objective on shares of Penumbra from $240.00 to $260.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 19th. Oppenheimer initiated coverage on shares of Penumbra in a report on Tuesday, December 17th. They set an "outperform" rating and a $275.00 price objective for the company. Robert W. Baird increased their price objective on Penumbra from $305.00 to $328.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. Finally, Bank of America started coverage on shares of Penumbra in a report on Friday, March 14th. They issued a "buy" rating and a $320.00 price objective for the company. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $294.47.

Penumbra 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.