Nuveen Asset Management LLC Has $23.55 Million Position in Penumbra, Inc. (NYSE:PEN)

Nuveen Asset Management LLC lowered its position in Penumbra, Inc. (NYSE:PEN - Free Report) by 12.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). 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.

Other large investors have also recently added to or reduced their stakes in the company. UMB Bank n.a. lifted its stake in Penumbra by 57.4% in the fourth quarter. UMB Bank n.a. now owns 192 shares of the company's stock valued at $46,000 after acquiring an additional 70 shares during the last quarter. Hurley Capital LLC acquired a new stake in Penumbra in the fourth quarter valued at $56,000. Huntington National Bank lifted its position in shares of 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 buying an additional 154 shares during the last quarter. Mather Group LLC. lifted its position in shares of Penumbra by 208.0% in the fourth quarter. Mather Group LLC. now owns 308 shares of the company's stock valued at $73,000 after buying an additional 208 shares during the last quarter. Finally, Jones Financial Companies Lllp lifted its position in shares of Penumbra by 25.0% in the fourth quarter. Jones Financial Companies Lllp now owns 375 shares of the company's stock valued at $89,000 after buying an additional 75 shares during the last quarter. Institutional investors and hedge funds own 88.88% of the company's stock.

Penumbra Price Performance

Shares of Penumbra stock opened at $266.90 on Friday. Penumbra, Inc. has a twelve month low of $148.00 and a twelve month high of $310.00. The company has a quick ratio of 3.25, a current ratio of 6.01 and a debt-to-equity ratio of 0.02. The company has a 50-day simple moving average of $279.81 and a two-hundred day simple moving average of $264.70. The stock has a market capitalization of $10.34 billion, a price-to-earnings ratio of 784.99, a price-to-earnings-growth ratio of 2.83 and a beta of 0.53.

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

Insider Buying and Selling at Penumbra

In other news, CEO Adam Elsesser sold 61,600 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $283.59, for a total value of $17,469,144.00. Following the completion of the transaction, the chief executive officer now directly owns 16,376 shares in the company, valued at approximately $4,644,069.84. The trade was a 79.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Lambert Shiu sold 501 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $282.88, for a total transaction of $141,722.88. Following the completion of the transaction, the chief accounting officer now owns 32,969 shares of the company's stock, valued at $9,326,270.72. The trade was a 1.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 176,696 shares of company stock valued at $50,207,745 in the last three months. Corporate insiders own 4.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Wall Street Zen raised Penumbra from a "hold" rating to a "buy" rating in a research report on Thursday, April 24th. Morgan Stanley raised their price objective on Penumbra from $240.00 to $260.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 19th. Truist Financial raised their target price on shares of Penumbra from $315.00 to $330.00 and gave the stock a "buy" rating in a research note on Thursday, April 24th. UBS Group restated a "buy" rating and set a $330.00 target price (up previously from $320.00) on shares of Penumbra in a research note on Thursday, April 24th. Finally, Piper Sandler restated an "overweight" rating and set a $330.00 target price (up previously from $250.00) on shares of Penumbra in a research note on Wednesday, February 19th. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $302.40.

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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