6,244 Shares in Penumbra, Inc. (NYSE:PEN) Acquired by Echo Street Capital Management LLC

Echo Street Capital Management LLC acquired a new position in shares of Penumbra, Inc. (NYSE:PENGet Rating) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 6,244 shares of the company’s stock, valued at approximately $1,387,000.

Other institutional investors have also added to or reduced their stakes in the company. Comerica Bank increased its position in Penumbra by 2.0% in the 1st quarter. Comerica Bank now owns 16,072 shares of the company’s stock valued at $3,282,000 after acquiring an additional 320 shares during the period. Teacher Retirement System of Texas increased its position in Penumbra by 21.7% in the 4th quarter. Teacher Retirement System of Texas now owns 6,722 shares of the company’s stock valued at $1,931,000 after acquiring an additional 1,199 shares during the period. Bank of New York Mellon Corp increased its position in Penumbra by 4.0% in the 1st quarter. Bank of New York Mellon Corp now owns 336,325 shares of the company’s stock valued at $74,708,000 after acquiring an additional 13,019 shares during the period. Private Advisor Group LLC acquired a new position in Penumbra in the 4th quarter valued at approximately $239,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in Penumbra by 5.1% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 16,458 shares of the company’s stock valued at $3,656,000 after acquiring an additional 795 shares during the period. 81.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Thomas Wilder sold 248 shares of the stock in a transaction on Tuesday, July 5th. The shares were sold at an average price of $123.64, for a total transaction of $30,662.72. Following the transaction, the director now directly owns 462 shares of the company’s stock, valued at $57,121.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Penumbra news, EVP Johanna Roberts sold 1,700 shares of the firm’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $175.04, for a total value of $297,568.00. Following the transaction, the executive vice president now directly owns 55,496 shares of the company’s stock, valued at $9,714,019.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas Wilder sold 248 shares of the firm’s stock in a transaction on Tuesday, July 5th. The shares were sold at an average price of $123.64, for a total transaction of $30,662.72. Following the completion of the transaction, the director now directly owns 462 shares in the company, valued at $57,121.68. The disclosure for this sale can be found here. Insiders have sold a total of 7,951 shares of company stock valued at $1,371,522 over the last ninety days. 5.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

PEN has been the subject of several recent research reports. Needham & Company LLC upgraded shares of Penumbra from a “hold” rating to a “buy” rating and set a $244.00 price target for the company in a research report on Friday. BTIG Research decreased their price target on shares of Penumbra from $272.00 to $213.00 and set a “buy” rating for the company in a research report on Monday, July 18th. Citigroup decreased their price objective on shares of Penumbra from $280.00 to $220.00 in a research report on Tuesday, May 17th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Penumbra from $250.00 to $163.00 in a research report on Thursday, July 21st. Finally, Canaccord Genuity Group decreased their price objective on shares of Penumbra from $244.00 to $189.00 and set a “buy” rating for the company in a research report on Friday, August 5th. One research analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $221.30.

Penumbra Stock Up 4.2 %

Shares of NYSE PEN opened at $205.88 on Monday. The firm has a market cap of $7.80 billion, a PE ratio of -395.92 and a beta of 0.66. Penumbra, Inc. has a 12-month low of $114.86 and a 12-month high of $293.20. The company’s fifty day simple moving average is $151.13 and its 200 day simple moving average is $165.22. The company has a quick ratio of 2.90, a current ratio of 4.93 and a debt-to-equity ratio of 0.03.

Penumbra (NYSE:PENGet Rating) last issued its earnings results on Thursday, August 4th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.08. The business had revenue of $208.30 million for the quarter, compared to analyst estimates of $206.24 million. Penumbra had a negative net margin of 2.40% and a positive return on equity of 0.97%. Penumbra’s revenue was up 13.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.21 earnings per share. As a group, sell-side analysts forecast that Penumbra, Inc. will post 0.25 earnings per share for the current fiscal year.

Penumbra Profile

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Penumbra, Inc designs, develops, manufactures, and markets medical devices in the United States and internationally. The company offers aspiration based thrombectomy systems and accessory devices, including revascularization device for mechanical thrombectomy, such as Penumbra System under the Penumbra RED, JET, ACE, 3D Revascularization Device, and Penumbra ENGINE brands, as well as components and accessories; neurovascular embolization coiling systems to treat patients with various sizes of aneurysms and other neurovascular lesions under the Penumbra Coil 400, POD400, PAC400, and Penumbra SMART Coil brand names; and neurovascular access systems designed to provide intracranial access for use in a range of neurovascular therapies under the Neuron, Neuron MAX, Select, BENCHMARK, BMX96, DDC, and PX SLIM brands.

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Institutional Ownership by Quarter for Penumbra (NYSE:PEN)

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