Nuveen Asset Management LLC Sells 13,777 Shares of Penumbra, Inc. (NYSE:PEN)

Nuveen Asset Management LLC lessened its holdings in shares of Penumbra, Inc. (NYSE:PEN - Free Report) by 12.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 99,176 shares of the company's stock after selling 13,777 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.26% of Penumbra worth $23,552,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. UMB Bank n.a. boosted its holdings in Penumbra by 57.4% in the 4th quarter. UMB Bank n.a. now owns 192 shares of the company's stock valued at $46,000 after purchasing an additional 70 shares during the period. Hurley Capital LLC acquired a new stake in Penumbra in the fourth quarter valued at approximately $56,000. Huntington National Bank raised its position in Penumbra by 138.7% in the fourth quarter. Huntington National Bank now owns 265 shares of the company's stock valued at $63,000 after purchasing an additional 154 shares during the last quarter. Mather Group LLC. grew its holdings in Penumbra by 208.0% during the 4th quarter. Mather Group LLC. now owns 308 shares of the company's stock worth $73,000 after acquiring an additional 208 shares during the last quarter. Finally, Jones Financial Companies Lllp raised its position in Penumbra by 25.0% during the 4th quarter. Jones Financial Companies Lllp now owns 375 shares of the company's stock worth $89,000 after purchasing an additional 75 shares during the last quarter. Institutional investors and hedge funds own 88.88% of the company's stock.

Analysts Set New Price Targets

PEN has been the subject of several recent analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Penumbra from $230.00 to $285.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 19th. BTIG Research restated a "buy" rating on shares of Penumbra in a research note on Thursday, April 24th. Stifel Nicolaus set a $318.00 price objective on Penumbra and gave the stock a "buy" rating in a research note on Thursday, April 24th. Needham & Company LLC reissued a "hold" rating on shares of Penumbra in a research report on Wednesday, February 19th. Finally, Piper Sandler reiterated an "overweight" rating and set a $330.00 price target (up from $250.00) on shares of Penumbra in a report on Wednesday, February 19th. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $302.40.

Insider Buying and Selling at Penumbra

In other Penumbra news, CEO Adam Elsesser sold 61,600 shares of Penumbra stock in a transaction 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 completion of the sale, the chief executive officer now owns 16,376 shares of the company's stock, valued at approximately $4,644,069.84. This trade represents a 79.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Johanna Roberts sold 600 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $287.43, for a total value of $172,458.00. Following the sale, the executive vice president now directly owns 66,539 shares in the company, valued at $19,125,304.77. This trade represents a 0.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 176,696 shares of company stock worth $50,207,745. 5.00% of the stock is owned by corporate insiders.

Penumbra Stock Down 2.7%

Penumbra stock traded down $7.41 on Wednesday, hitting $265.22. 126,641 shares of the stock traded hands, compared to its average volume of 509,938. The business's fifty day simple moving average is $279.26 and its 200 day simple moving average is $265.67. The firm has a market cap of $10.27 billion, a P/E ratio of 780.05, a price-to-earnings-growth ratio of 2.83 and a beta of 0.53. The company has a current ratio of 6.01, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02. Penumbra, Inc. has a 1 year low of $148.00 and a 1 year high of $310.00.

Penumbra (NYSE:PEN - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The company reported $0.83 earnings per share for the quarter, beating analysts' consensus estimates of $0.66 by $0.17. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. The business had revenue of $324.14 million during the quarter, compared to the consensus estimate of $315.72 million. During the same quarter last year, the firm earned $0.41 earnings per share. The business's revenue for the quarter was up 16.3% on a year-over-year basis. As a group, sell-side analysts forecast that Penumbra, Inc. will post 3.67 earnings per share for the current year.

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.