UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Cuts Position in Penumbra, Inc. $PEN

Key Points

• UBS AM reduced its stake in Penumbra, Inc. by 1.8%, selling 1,957 shares and holding 109,543 shares currently valued at approximately $29.3 million.
• Penumbra's stock received positive analyst ratings, with UBS Group setting a price target of $335 and multiple firms issuing 'buy' ratings, contributing to its consensus rating of "Moderate Buy."
• Penumbra has reported a 13.4% year-over-year revenue growth, reaching $339.46 million this quarter, alongside an EPS of $0.86, surpassing analyst expectations.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC trimmed its holdings in Penumbra, Inc. (NYSE:PEN - Free Report) by 1.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 109,543 shares of the company's stock after selling 1,957 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned approximately 0.28% of Penumbra worth $29,293,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the business. Synergy Investment Management LLC purchased a new stake in shares of Penumbra during the first quarter valued at $27,000. First Horizon Advisors Inc. grew its position in shares of 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 in the last quarter. AlphaQuest LLC bought a new position in shares of Penumbra during the 1st quarter worth $66,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Penumbra in the first quarter valued at about $76,000. Finally, Versant Capital Management Inc raised its holdings in shares of Penumbra by 893.5% in the first quarter. Versant Capital Management Inc now owns 308 shares of the company's stock valued at $82,000 after acquiring an additional 277 shares in the last quarter. Institutional investors own 88.88% of the company's stock.

Penumbra Price Performance

NYSE PEN traded down $1.85 on Friday, hitting $255.90. The company had a trading volume of 947,229 shares, compared to its average volume of 464,140. The company's fifty day moving average price is $253.59 and its 200-day moving average price is $264.21. Penumbra, Inc. has a 12-month low of $185.13 and a 12-month high of $310.00. The company has a market capitalization of $9.98 billion, a PE ratio of 68.06, a PEG ratio of 2.32 and a beta of 0.45. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.75 and a quick ratio of 4.04.

Penumbra (NYSE:PEN - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $0.86 earnings per share for the quarter, beating analysts' consensus estimates of $0.81 by $0.05. The firm had revenue of $339.46 million for the quarter, compared to analyst estimates of $327.37 million. Penumbra had a net margin of 11.54% and a return on equity of 11.55%. Penumbra's quarterly revenue was up 13.4% compared to the same quarter last year. During the same period last year, the company posted $0.64 EPS. Penumbra has set its FY 2025 guidance at EPS. As a group, analysts predict that Penumbra, Inc. will post 3.67 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PEN. William Blair raised shares of Penumbra to a "strong-buy" rating in a report on Friday, July 18th. Morgan Stanley raised their price objective on Penumbra from $260.00 to $266.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 31st. Citigroup reduced their price objective on Penumbra from $320.00 to $285.00 and set a "neutral" rating for the company in a research note on Wednesday, July 9th. Evercore ISI started coverage on shares of Penumbra in a report on Tuesday, September 2nd. They issued an "outperform" rating and a $300.00 price target on the stock. Finally, UBS Group set a $335.00 price objective on shares of Penumbra and gave the company a "buy" rating in a report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Penumbra currently has a consensus rating of "Moderate Buy" and an average price target of $302.93.

Insider Buying and Selling

In other Penumbra news, Director Harpreet Grewal sold 186 shares of the business's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $272.19, for a total value of $50,627.34. Following the completion of the transaction, the director owned 8,888 shares in the company, valued at $2,419,224.72. The trade was a 2.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Adam Elsesser sold 15,800 shares of Penumbra stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $269.65, for a total value of $4,260,470.00. Following the completion of the transaction, the chief executive officer owned 182,460 shares of the company's stock, valued at approximately $49,200,339. This trade represents a 7.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 112,113 shares of company stock valued at $27,919,346. 4.20% of the stock is currently owned by company insiders.

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.