1,211 Shares in Penumbra, Inc. (NYSE:PEN) Acquired by Sheets Smith Wealth Management

Sheets Smith Wealth Management acquired a new stake in shares of Penumbra, Inc. (NYSE:PEN - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,211 shares of the company's stock, valued at approximately $324,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its position in 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 buying an additional 3,807 shares during the period. Proficio Capital Partners LLC purchased a new position in Penumbra during the fourth quarter valued at $3,553,000. HighTower Advisors LLC lifted its position in Penumbra by 3.2% during the fourth quarter. HighTower Advisors LLC now owns 5,980 shares of the company's stock valued at $1,420,000 after buying an additional 188 shares during the period. Atria Investments Inc purchased a new position in Penumbra during the fourth quarter valued at $221,000. Finally, Envestnet Portfolio Solutions Inc. lifted its position in Penumbra by 3.7% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 2,867 shares of the company's stock valued at $681,000 after buying an additional 101 shares during the period. Hedge funds and other institutional investors own 88.88% of the company's stock.

Penumbra Stock Performance

Shares of Penumbra stock traded up $2.53 during trading hours on Friday, reaching $256.11. 512,698 shares of the stock traded hands, compared to its average volume of 451,891. The company has a 50 day moving average price of $272.45 and a 200 day moving average price of $268.08. The firm has a market capitalization of $9.92 billion, a price-to-earnings ratio of 241.62, a P/E/G ratio of 2.28 and a beta of 0.49. Penumbra, Inc. has a one year low of $148.00 and a one year high of $310.00. The company has a quick ratio of 3.68, a current ratio of 6.30 and a debt-to-equity ratio of 0.02.

Penumbra (NYSE:PEN - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.66 by $0.17. The business had revenue of $324.14 million during the quarter, compared to the consensus estimate of $315.72 million. Penumbra had a return on equity of 11.14% and a net margin of 3.41%. The business's quarterly revenue was up 16.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.41 EPS. On average, equities research analysts expect that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal year.

Insider Buying and Selling at Penumbra

In related news, CFO Maggie Yuen sold 2,000 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $299.01, for a total transaction of $598,020.00. Following the completion of the transaction, the chief financial officer now directly owns 13,957 shares in the company, valued at approximately $4,173,282.57. The trade was a 12.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Thomas Wilder sold 360 shares of the business's stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $264.58, for a total value of $95,248.80. Following the transaction, the director now owns 4,533 shares of the company's stock, valued at approximately $1,199,341.14. This trade represents a 7.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 132,095 shares of company stock worth $36,445,060 in the last three months. 4.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Wells Fargo & Company lifted their price target on Penumbra from $305.00 to $315.00 and gave the stock an "overweight" rating in a research report on Thursday, April 24th. Royal Bank Of Canada lifted their price target on Penumbra from $315.00 to $330.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Bank of America assumed coverage on Penumbra in a research report on Friday, March 14th. They issued a "buy" rating and a $320.00 price target for the company. BTIG Research reaffirmed a "buy" rating on shares of Penumbra in a research report on Thursday, April 24th. Finally, Truist Financial lifted their price target on Penumbra from $315.00 to $330.00 and gave the stock a "buy" rating in a research report on Thursday, April 24th. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $302.40.

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.