Short Interest in Penumbra Inc (NYSE:PEN) Decreases By 6.2%

Penumbra Inc (NYSE:PEN) saw a significant drop in short interest in 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. Currently, 15.3% of the company’s stock are short sold. Based on an average daily volume of 417,500 shares, the days-to-cover ratio is presently 11.4 days.

Penumbra stock traded up $1.75 during trading hours on Monday, reaching $171.44. 26,382 shares of the stock were exchanged, compared to its average volume of 306,980. The company’s 50 day moving average price is $158.16. The company has a debt-to-equity ratio of 0.11, a quick ratio of 4.34 and a current ratio of 6.10. The stock has a market capitalization of $5.90 billion, a PE ratio of 336.16, a P/E/G ratio of 9.05 and a beta of 0.65. Penumbra has a 52-week low of $110.84 and a 52-week high of $173.59.

Penumbra (NYSE:PEN) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.10. The business 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 business’s revenue was up 25.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.15 EPS. Equities research analysts anticipate that Penumbra will post 0.87 earnings per share for the current fiscal year.

In other Penumbra news, CFO Sridhar Kosaraju sold 5,000 shares of Penumbra stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $130.25, for a total value of $651,250.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Bridget O’rourke sold 175 shares of Penumbra stock in a transaction on Monday, July 1st. The shares were sold at an average price of $160.67, for a total value of $28,117.25. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 31,175 shares of company stock worth $4,516,657. 9.60% of the stock is currently owned by insiders.

A number of institutional investors have recently bought and sold shares of PEN. Botty Investors LLC bought a new stake in Penumbra during the 1st quarter worth $29,000. Manchester Capital Management LLC bought a new position in Penumbra in the 1st quarter worth about $30,000. PNC Financial Services Group Inc. grew its stake in Penumbra by 30.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 437 shares of the company’s stock worth $53,000 after acquiring an additional 103 shares in the last quarter. Gemmer Asset Management LLC grew its stake in Penumbra by 1,005.1% in the 1st quarter. Gemmer Asset Management LLC now owns 431 shares of the company’s stock worth $63,000 after acquiring an additional 392 shares in the last quarter. Finally, CENTRAL TRUST Co bought a new position in Penumbra in the 2nd quarter worth about $171,000. Institutional investors and hedge funds own 86.63% of the company’s stock.

Several research firms have recently issued reports on PEN. William Blair started coverage on Penumbra in a report on Tuesday, May 21st. They issued an “outperform” rating for the company. Bank of America set a $10.00 target price on shares of HEXO and gave the company a “buy” rating in a report on Thursday, June 13th. Zacks Investment Research lowered shares of Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, May 11th. JPMorgan Chase & Co. upgraded shares of China Life Insurance from a “neutral” rating to an “overweight” rating in a report on Thursday, May 30th. They noted that the move was a valuation call. Finally, HC Wainwright set a $11.00 target price on shares of Cerecor and gave the company a “buy” rating in a report on Wednesday, April 17th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Penumbra currently has a consensus rating of “Buy” and a consensus target price of $164.17.

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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