UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Has $29.29 Million Stock 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 stake in shares of Penumbra, Inc. (NYSE:PEN - Free Report) by 1.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund 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.

Other large investors have also recently added to or reduced their stakes in the company. Concurrent Investment Advisors LLC bought a new position in Penumbra during the 1st quarter valued at $259,000. GAMMA Investing LLC raised its holdings in shares of Penumbra by 59.0% during the first quarter. GAMMA Investing LLC now owns 709 shares of the company's stock worth $190,000 after purchasing an additional 263 shares during the period. Woodline Partners LP raised its holdings in shares of Penumbra by 476.1% during the first quarter. Woodline Partners LP now owns 145,881 shares of the company's stock worth $39,010,000 after purchasing an additional 120,558 shares during the period. Farther Finance Advisors LLC raised its holdings in shares of Penumbra by 606.3% during the first quarter. Farther Finance Advisors LLC now owns 445 shares of the company's stock worth $121,000 after purchasing an additional 382 shares during the period. Finally, Gotham Asset Management LLC acquired a new stake in shares of Penumbra during the fourth quarter worth $275,000. 88.88% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Penumbra

In other Penumbra news, CEO Adam Elsesser sold 16,150 shares of the firm's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $233.16, for a total value of $3,765,534.00. Following the completion of the transaction, the chief executive officer directly owned 146,258 shares in the company, valued at $34,101,515.28. This trade represents a 9.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Johanna Roberts sold 600 shares of the firm's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $252.70, for a total transaction of $151,620.00. Following the completion of the transaction, the executive vice president owned 66,057 shares of the company's stock, valued at approximately $16,692,603.90. The trade was a 0.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 112,113 shares of company stock worth $27,919,346. Company insiders own 4.20% of the company's stock.

Analysts Set New Price Targets

PEN has been the topic of a number of research reports. Morgan Stanley increased their target price on shares of Penumbra from $260.00 to $266.00 and gave the stock an "equal weight" rating in a report on Thursday, July 31st. Wall Street Zen raised shares of Penumbra from a "hold" rating to a "buy" rating in a report on Saturday, August 30th. Evercore ISI began coverage on shares of Penumbra in a report on Tuesday, September 2nd. They issued an "outperform" rating and a $300.00 price objective on the stock. Royal Bank Of Canada dropped their price objective on shares of Penumbra from $330.00 to $325.00 and set an "outperform" rating on the stock in a report on Wednesday, July 30th. Finally, Truist Financial set a $310.00 price objective on shares of Penumbra and gave the stock a "buy" rating in a report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $302.93.

Penumbra Price Performance

Shares of NYSE:PEN traded down $6.54 during trading hours on Wednesday, hitting $256.42. 403,481 shares of the company's stock traded hands, compared to its average volume of 459,988. Penumbra, Inc. has a 52 week low of $185.13 and a 52 week high of $310.00. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.04 and a current ratio of 6.75. The company's fifty day simple moving average is $252.94 and its two-hundred day simple moving average is $264.60. The company has a market cap of $10.00 billion, a price-to-earnings ratio of 68.20, a price-to-earnings-growth ratio of 2.37 and a beta of 0.45.

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