Penumbra, Inc. (NYSE:PEN) Short Interest Down 19.0% in February

Penumbra, Inc. (NYSE:PEN - Get Free Report) saw a significant decrease in short interest in February. As of February 28th, there was short interest totalling 1,360,000 shares, a decrease of 19.0% from the February 13th total of 1,680,000 shares. Based on an average daily volume of 448,500 shares, the short-interest ratio is presently 3.0 days. Approximately 3.7% of the company's shares are sold short.

Analysts Set New Price Targets

A number of research firms recently issued reports on PEN. Citigroup lifted their target price on Penumbra from $220.00 to $245.00 and gave the company a "neutral" rating in a report on Wednesday, December 11th. Royal Bank of Canada lifted their price objective on Penumbra from $285.00 to $313.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. Bank of America started coverage on shares of Penumbra in a research note on Friday, March 14th. They set a "buy" rating and a $320.00 target price on the stock. StockNews.com cut shares of Penumbra from a "buy" rating to a "hold" rating in a report on Friday, February 28th. Finally, Canaccord Genuity Group raised their price objective on shares of Penumbra from $323.00 to $340.00 and gave the company a "buy" rating in a report on Wednesday, February 19th. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $294.47.

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Insiders Place Their Bets

In other Penumbra news, CEO Adam Elsesser sold 61,600 shares of Penumbra stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $283.59, for a total value of $17,469,144.00. Following the completion of the transaction, the chief executive officer now directly owns 16,376 shares of the company's stock, valued at $4,644,069.84. The trade was a 79.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Johanna Roberts sold 600 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $287.43, for a total transaction of $172,458.00. Following the sale, the executive vice president now directly owns 66,539 shares in the company, valued at $19,125,304.77. This represents a 0.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 64,918 shares of company stock worth $18,409,893 over the last ninety days. Corporate insiders own 5.00% of the company's stock.

Institutional Investors Weigh In On Penumbra

A number of hedge funds have recently added to or reduced their stakes in PEN. Oppenheimer Asset Management Inc. boosted its stake in shares of Penumbra by 4.0% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 9,118 shares of the company's stock worth $1,772,000 after acquiring an additional 347 shares in the last quarter. KBC Group NV grew its stake in Penumbra by 14.3% in the 3rd quarter. KBC Group NV now owns 1,018 shares of the company's stock valued at $198,000 after acquiring an additional 127 shares during the last quarter. CIBC Asset Management Inc acquired a new position in shares of Penumbra during the 3rd quarter worth approximately $218,000. Natixis Advisors LLC lifted its position in shares of Penumbra by 45.8% in the third quarter. Natixis Advisors LLC now owns 27,725 shares of the company's stock valued at $5,387,000 after acquiring an additional 8,705 shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its position in Penumbra by 3,832.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 368,298 shares of the company's stock worth $71,564,000 after purchasing an additional 358,932 shares in the last quarter. Institutional investors and hedge funds own 88.88% of the company's stock.

Penumbra Stock Performance

PEN stock traded down $0.40 during trading on Friday, hitting $280.93. The company had a trading volume of 732,793 shares, compared to its average volume of 397,080. The firm has a 50-day moving average price of $272.09 and a 200-day moving average price of $239.50. The company has a quick ratio of 3.25, a current ratio of 6.01 and a debt-to-equity ratio of 0.02. The firm has a market cap of $10.82 billion, a PE ratio of 826.25, a price-to-earnings-growth ratio of 2.83 and a beta of 0.51. Penumbra has a 1-year low of $148.00 and a 1-year high of $310.00.

Penumbra (NYSE:PEN - Get Free Report) last released its earnings results on Tuesday, February 18th. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.88 by $0.09. Penumbra had a return on equity of 9.74% and a net margin of 1.17%. The business had revenue of $315.52 million for the quarter, compared to analyst estimates of $311.63 million. On average, analysts expect that Penumbra will post 3.67 earnings per share for the current year.

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.