UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Boosts Stock Holdings in Penumbra, Inc. (NYSE:PEN)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Penumbra, Inc. (NYSE:PEN - Free Report) by 14.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 111,500 shares of the company's stock after acquiring an additional 13,929 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.29% of Penumbra worth $26,479,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Hurley Capital LLC acquired a new position in Penumbra during the fourth quarter valued at approximately $56,000. Huntington National Bank raised its position in shares of Penumbra by 138.7% during the 4th quarter. Huntington National Bank now owns 265 shares of the company's stock worth $63,000 after purchasing an additional 154 shares during the period. Mather Group LLC. lifted its holdings in shares of Penumbra by 208.0% in the 4th quarter. Mather Group LLC. now owns 308 shares of the company's stock worth $73,000 after purchasing an additional 208 shares during the last quarter. Jones Financial Companies Lllp boosted its position in Penumbra by 25.0% during the 4th quarter. Jones Financial Companies Lllp now owns 375 shares of the company's stock valued at $89,000 after purchasing an additional 75 shares during the period. Finally, Quadrant Capital Group LLC grew its stake in Penumbra by 6.6% during the 4th quarter. Quadrant Capital Group LLC now owns 632 shares of the company's stock worth $150,000 after buying an additional 39 shares during the last quarter. Institutional investors and hedge funds own 88.88% of the company's stock.

Penumbra Stock Performance

Shares of NYSE PEN traded up $1.77 during trading hours on Friday, reaching $267.30. 500,897 shares of the stock were exchanged, compared to its average volume of 446,488. The stock's fifty day simple moving average is $278.51 and its 200 day simple moving average is $265.81. The firm has a market capitalization of $10.35 billion, a price-to-earnings ratio of 786.18, a P/E/G ratio of 2.83 and a beta of 0.53. Penumbra, Inc. has a 52 week low of $148.00 and a 52 week high of $310.00. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.25 and a current ratio of 6.01.

Penumbra (NYSE:PEN - Get Free Report) last released its quarterly 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 company had revenue of $324.14 million during the quarter, compared to the consensus estimate of $315.72 million. During the same period in the previous year, the business earned $0.41 earnings per share. The firm's quarterly revenue was up 16.3% on a year-over-year basis. Sell-side analysts predict that Penumbra, Inc. will post 3.67 EPS for the current year.

Analyst Ratings Changes

PEN has been the topic of several analyst reports. Bank of America started coverage on shares of Penumbra in a research note on Friday, March 14th. They issued a "buy" rating and a $320.00 price target on the stock. Wells Fargo & Company boosted their price target on Penumbra from $305.00 to $315.00 and gave the stock an "overweight" rating in a research report on Thursday, April 24th. Royal Bank of Canada boosted their price target on shares of Penumbra from $315.00 to $330.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Morgan Stanley increased their price objective on shares of Penumbra from $240.00 to $260.00 and gave the company an "equal weight" rating in a report on Wednesday, February 19th. Finally, Canaccord Genuity Group upped their target price on Penumbra from $323.00 to $340.00 and gave the stock a "buy" rating in a research report on Wednesday, February 19th. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $302.40.

Insider Activity

In other Penumbra news, CEO Adam Elsesser sold 61,600 shares of the company's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $283.59, for a total transaction of $17,469,144.00. Following the transaction, the chief executive officer now owns 16,376 shares in the company, valued at approximately $4,644,069.84. This represents a 79.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Maggie Yuen sold 2,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $286.00, for a total value of $572,000.00. Following the completion of the sale, the chief financial officer now directly owns 15,243 shares of the company's stock, valued at approximately $4,359,498. This trade represents a 11.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 176,696 shares of company stock worth $50,207,745. Insiders own 5.00% of the company's stock.

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.