Penumbra, Inc. (NYSE:PEN) was the target of a significant drop in short interest during the month of July. As of July 31st, there was short interest totalling 3,101,640 shares, a drop of 1.4% from the July 14th total of 3,146,392 shares. Approximately 10.5% of the company’s shares are sold short. Based on an average trading volume of 113,842 shares, the short-interest ratio is currently 27.2 days.
Penumbra (PEN) opened at 85.75 on Friday. The firm has a market capitalization of $2.90 billion, a PE ratio of 579.39 and a beta of 0.10. The firm’s 50-day moving average is $84.80 and its 200-day moving average is $83.20. Penumbra has a 12 month low of $56.05 and a 12 month high of $91.00.
Penumbra (NYSE:PEN) last posted its quarterly earnings results on Tuesday, August 8th. The company reported ($0.05) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.05). The firm had revenue of $80.60 million for the quarter, compared to analyst estimates of $77.16 million. Penumbra had a negative return on equity of 2.58% and a negative net margin of 2.78%. The business’s quarterly revenue was up 23.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.01 EPS. On average, equities research analysts expect that Penumbra will post ($0.21) EPS for the current year.
A number of research analysts have weighed in on PEN shares. Zacks Investment Research cut shares of Penumbra from a “hold” rating to a “sell” rating in a research report on Thursday, May 11th. BMO Capital Markets reaffirmed a “buy” rating and set a $96.00 price target on shares of Penumbra in a research report on Wednesday, May 10th. BidaskClub raised shares of Penumbra from a “hold” rating to a “buy” rating in a research report on Thursday, June 22nd. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $94.00 price target on shares of Penumbra in a research report on Tuesday, June 13th.
In other Penumbra news, Director Harpreet Grewal sold 4,500 shares of Penumbra stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $82.65, for a total transaction of $371,925.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Daniel Donen Davis sold 32,000 shares of Penumbra stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $79.42, for a total transaction of $2,541,440.00. The disclosure for this sale can be found here. Insiders sold 46,845 shares of company stock worth $3,794,570 over the last three months. Corporate insiders own 22.00% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of PEN. Ameritas Investment Partners Inc. acquired a new position in shares of Penumbra during the first quarter valued at approximately $194,000. Mutual of America Capital Management LLC increased its position in shares of Penumbra by 2.2% in the first quarter. Mutual of America Capital Management LLC now owns 23,088 shares of the company’s stock valued at $1,927,000 after buying an additional 500 shares in the last quarter. Pioneer Investment Management Inc. increased its position in shares of Penumbra by 27.9% in the first quarter. Pioneer Investment Management Inc. now owns 86,502 shares of the company’s stock valued at $7,219,000 after buying an additional 18,873 shares in the last quarter. Parametric Portfolio Associates LLC increased its position in shares of Penumbra by 1.0% in the first quarter. Parametric Portfolio Associates LLC now owns 36,753 shares of the company’s stock valued at $3,067,000 after buying an additional 360 shares in the last quarter. Finally, Eagle Asset Management Inc. acquired a new position in shares of Penumbra during the first quarter valued at approximately $15,865,000. 69.43% of the stock is currently owned by hedge funds and other institutional investors.
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About Penumbra
Penumbra, Inc is a healthcare company focused on interventional therapies. The Company designs, develops, manufactures and markets medical devices. It has a portfolio of products that addresses medical conditions and clinical needs across two markets, neuro and peripheral vascular. The conditions that its products address include ischemic stroke, hemorrhagic stroke and various peripheral vascular conditions that can be treated through thrombectomy and embolization procedures.
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