Nuveen LLC Makes New $33.70 Million Investment in Penumbra, Inc. $PEN

Key Points

• Nuveen LLC has acquired 126,009 shares of Penumbra, Inc., valued at approximately $33.7 million, representing a 0.33% stake.
• Penumbra reported a 13.4% revenue increase year-over-year, reaching $339.46 million for the last quarter, and an EPS of $0.86 exceeding estimates.
• Insider selling has occurred recently, with executives selling a total of 112,487 shares valued at nearly $28 million over the last quarter.

Nuveen LLC bought a new position in shares of Penumbra, Inc. (NYSE:PEN - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 126,009 shares of the company's stock, valued at approximately $33,696,000. Nuveen LLC owned about 0.33% of Penumbra at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Synergy Investment Management LLC purchased a new position in Penumbra during the 1st quarter worth $27,000. First Horizon Advisors Inc. grew its stake in Penumbra by 404.8% during the 1st quarter. First Horizon Advisors Inc. now owns 106 shares of the company's stock worth $28,000 after buying an additional 85 shares during the last quarter. Versant Capital Management Inc grew its stake in Penumbra by 893.5% during the 1st quarter. Versant Capital Management Inc now owns 308 shares of the company's stock worth $82,000 after buying an additional 277 shares during the last quarter. Meeder Asset Management Inc. grew its stake in Penumbra by 1,966.7% during the 1st quarter. Meeder Asset Management Inc. now owns 372 shares of the company's stock worth $99,000 after buying an additional 354 shares during the last quarter. Finally, UMB Bank n.a. increased its holdings in shares of Penumbra by 110.4% in the first quarter. UMB Bank n.a. now owns 404 shares of the company's stock valued at $108,000 after purchasing an additional 212 shares during the period. 88.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Penumbra

In related news, CEO Adam Elsesser sold 16,300 shares of the 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 completion of the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Maggie Yuen sold 2,000 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $250.00, for a total value of $500,000.00. Following the completion of the sale, the chief financial officer directly owned 12,943 shares of the company's stock, valued at approximately $3,235,750. This represents a 13.38% decrease in their position. The disclosure for this sale can be found here. Insiders sold 112,487 shares of company stock worth $27,969,587 over the last three months. 5.00% of the stock is owned by insiders.

Penumbra Price Performance

Shares of Penumbra stock traded down $1.9390 during mid-day trading on Tuesday, reaching $253.4110. 262,693 shares of the stock traded hands, compared to its average volume of 495,207. The business has a 50-day moving average of $246.02 and a 200 day moving average of $265.48. Penumbra, Inc. has a fifty-two week low of $184.80 and a fifty-two week high of $310.00. The stock has a market capitalization of $9.88 billion, a PE ratio of 67.40, a PEG ratio of 2.28 and a beta of 0.40. The company has a quick ratio of 4.04, a current ratio of 6.75 and a debt-to-equity ratio of 0.02.

Penumbra (NYSE:PEN - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported $0.86 EPS 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 during the quarter, compared to analysts' expectations of $327.37 million. During the same quarter in the prior year, the firm earned $0.64 earnings per share. The business's revenue was up 13.4% compared to the same quarter last year. Penumbra has set its FY 2025 guidance at EPS. On average, analysts predict that Penumbra, Inc. will post 3.67 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on PEN shares. Wells Fargo & Company cut their price objective on Penumbra from $315.00 to $290.00 and set an "overweight" rating on the stock in a report on Wednesday, July 30th. Citigroup cut their price objective on Penumbra from $320.00 to $285.00 and set a "neutral" rating on the stock in a report on Wednesday, July 9th. Stifel Nicolaus set a $318.00 price objective on Penumbra and gave the company a "buy" rating in a report on Thursday, April 24th. UBS Group set a $335.00 price objective on Penumbra and gave the company a "buy" rating in a report on Wednesday, July 30th. Finally, BTIG Research restated a "buy" rating on shares of Penumbra in a research note on Thursday, April 24th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $300.47.

Penumbra 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.