Penumbra Inc (NYSE:PEN) was the target of a significant drop in short interest during the month of June. As of June 30th, there was short interest totalling 4,754,400 shares, a drop of 6.2% from the May 30th total of 5,069,000 shares. Based on an average daily trading volume, of 417,500 shares, the short-interest ratio is presently 11.4 days. Approximately 15.3% of the shares of the company are short sold.
In other news, CFO Sridhar Kosaraju sold 5,000 shares of Penumbra stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $159.96, for a total value of $799,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Adam Elsesser sold 8,000 shares of Penumbra stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $125.30, for a total transaction of $1,002,400.00. The disclosure for this sale can be found here. Insiders have sold 31,175 shares of company stock valued at $4,516,657 in the last 90 days. 9.60% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of PEN. 1832 Asset Management L.P. purchased a new position in Penumbra during the fourth quarter valued at approximately $46,280,000. FMR LLC grew its stake in Penumbra by 6.6% during the fourth quarter. FMR LLC now owns 5,024,916 shares of the company’s stock valued at $614,045,000 after acquiring an additional 310,996 shares in the last quarter. Norges Bank purchased a new position in Penumbra during the fourth quarter valued at approximately $37,373,000. Wells Fargo & Company MN grew its stake in Penumbra by 1,121.4% during the first quarter. Wells Fargo & Company MN now owns 238,360 shares of the company’s stock valued at $35,041,000 after acquiring an additional 218,844 shares in the last quarter. Finally, Redmile Group LLC grew its stake in Penumbra by 121.9% during the first quarter. Redmile Group LLC now owns 323,170 shares of the company’s stock valued at $47,509,000 after acquiring an additional 177,562 shares in the last quarter. 86.59% of the stock is owned by institutional investors.
Several equities analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, May 11th. William Blair assumed coverage on shares of Penumbra in a research note on Tuesday, May 21st. They issued an “outperform” rating for the company. ValuEngine upgraded shares of YY from a “sell” rating to a “hold” rating in a research note on Friday, June 7th. Bank of America set a $10.00 target price on shares of HEXO and gave the stock a “buy” rating in a research note on Thursday, June 13th. Finally, JPMorgan Chase & Co. upgraded shares of China Life Insurance from a “neutral” rating to an “overweight” rating in a research note on Thursday, May 30th. They noted that the move was a valuation call. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $164.17.
PEN opened at $169.69 on Friday. The stock has a market capitalization of $5.89 billion, a P/E ratio of 332.73, a price-to-earnings-growth ratio of 9.05 and a beta of 0.65. The company has a debt-to-equity ratio of 0.11, a current ratio of 6.10 and a quick ratio of 4.34. The stock has a 50-day simple moving average of $158.16. Penumbra has a twelve month low of $110.84 and a twelve month high of $173.59.
Penumbra (NYSE:PEN) last posted its earnings results on Tuesday, May 7th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.10. The firm had revenue of $128.44 million during the quarter, compared to the consensus estimate of $123.09 million. Penumbra had a net margin of 2.51% and a return on equity of 5.84%. The company’s revenue was up 25.1% on a year-over-year basis. During the same quarter last year, the company earned $0.15 earnings per share. On average, research analysts expect that Penumbra will post 0.87 earnings per share for the current year.
Penumbra Company Profile
Penumbra, Inc designs, develops, manufactures, and markets medical devices in the United States, Europe, Canada, Australia, Japan, and internationally. The company offers neurovascular access systems designed to provide intracranial access for use in a range of neurovascular therapies under the Neuron, Neuron MAX, Select, BENCHMARK, DDC, and PX SLIM brands; aspiration based thrombectomy systems and accessory devices, including revascularization device for mechanical thrombectomy, such as Penumbra System under the ACE and the 3D Revascularization Device brands.
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