Cookson Peirce & Co. Inc. Makes New $2.36 Million Investment in Penumbra, Inc. (NYSE:PEN)

Key Points

• Cookson Peirce & Co. Inc. invested approximately $2.36 million in Penumbra, acquiring 8,815 shares during the first quarter.
• Following recent trading, insiders sold a total of 98,487 shares valued at $24.5 million over the last three months, while institutional investors own 88.88% of Penumbra's stock.
• Penumbra's stock received mixed analyst ratings, with a consensus rating of "Moderate Buy" and an average price target of $300.47.

Cookson Peirce & Co. Inc. acquired a new position in shares of Penumbra, Inc. (NYSE:PEN - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 8,815 shares of the company's stock, valued at approximately $2,357,000.

A number of other institutional investors have also recently bought and sold shares of the business. Vestmark Advisory Solutions Inc. acquired a new stake in Penumbra during the 1st quarter worth about $226,000. Lord Abbett & CO. LLC acquired a new stake in Penumbra during the 1st quarter worth about $63,731,000. Caitong International Asset Management Co. Ltd acquired a new stake in Penumbra during the 1st quarter worth about $76,000. Russell Investments Group Ltd. boosted its position in Penumbra by 8.3% during the 1st quarter. Russell Investments Group Ltd. now owns 21,644 shares of the company's stock worth $5,788,000 after acquiring an additional 1,655 shares during the period. Finally, Informed Momentum Co LLC acquired a new stake in shares of Penumbra during the 1st quarter valued at about $3,988,000. 88.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Penumbra

In other news, Director Thomas Wilder sold 372 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $240.16, for a total transaction of $89,339.52. Following the completion of the transaction, the director directly owned 372 shares in the company, valued at $89,339.52. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Adam Elsesser sold 16,300 shares of the company's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $267.91, for a total value of $4,366,933.00. Following the transaction, the chief executive officer owned 98,289 shares of the company's stock, valued at approximately $26,332,605.99. This trade represents a 14.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 98,487 shares of company stock worth $24,461,787 over the last three months. 4.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

PEN has been the subject of several research reports. Wall Street Zen lowered Penumbra from a "strong-buy" rating to a "hold" rating in a report on Saturday, August 2nd. Canaccord Genuity Group set a $350.00 price target on Penumbra and gave the company a "buy" rating in a report on Wednesday, July 30th. Wells Fargo & Company reduced their price target on Penumbra from $315.00 to $290.00 and set an "overweight" rating for the company in a report on Wednesday, July 30th. William Blair upgraded Penumbra to a "strong-buy" rating in a report on Friday, July 18th. Finally, BTIG Research reiterated a "buy" rating on shares of Penumbra in a report on Thursday, April 24th. Four 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 company's stock. Based on data from MarketBeat, Penumbra has a consensus rating of "Moderate Buy" and an average target price of $300.47.

Penumbra Stock Up 3.7%

Shares of PEN stock opened at $257.67 on Thursday. The stock's 50 day simple moving average is $246.26 and its 200 day simple moving average is $265.87. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.04 and a current ratio of 6.75. Penumbra, Inc. has a twelve month low of $181.13 and a twelve month high of $310.00. The company has a market capitalization of $10.05 billion, a price-to-earnings ratio of 68.53, a PEG ratio of 2.24 and a beta of 0.40.

Penumbra (NYSE:PEN - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $0.86 earnings per share for the quarter, beating analysts' consensus estimates of $0.81 by $0.05. Penumbra had a return on equity of 11.55% and a net margin of 11.54%. The business had revenue of $339.46 million for the quarter, compared to the consensus estimate of $327.37 million. During the same period last year, the business earned $0.64 EPS. The firm's revenue was up 13.4% compared to the same quarter last year. As a group, research analysts predict that Penumbra, Inc. will post 3.67 EPS for the current year.

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.

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