Penumbra, Inc. (NYSE:PEN) Short Interest Update

Penumbra, Inc. (NYSE:PEN) was the target of a large drop in short interest in January. As of January 31st, there was short interest totalling 1,430,000 shares, a drop of 23.5% from the January 15th total of 1,870,000 shares. Based on an average daily trading volume, of 384,700 shares, the days-to-cover ratio is presently 3.7 days.

Penumbra Trading Up 2.2 %

PEN opened at $272.96 on Friday. Penumbra has a 52 week low of $148.00 and a 52 week high of $277.89. The company has a market capitalization of $10.48 billion, a P/E ratio of 317.39, a PEG ratio of 1.92 and a beta of 0.53. The stock’s fifty day moving average is $253.82 and its two-hundred day moving average is $222.88. The company has a quick ratio of 3.25, a current ratio of 5.82 and a debt-to-equity ratio of 0.02.

Insider Buying and Selling at Penumbra

In other Penumbra news, Director Harpreet Grewal sold 167 shares of Penumbra stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $241.28, for a total value of $40,293.76. Following the completion of the transaction, the director now directly owns 8,530 shares of the company’s stock, valued at $2,058,118.40. This trade represents a 1.92 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Lambert Shiu sold 1,798 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $242.56, for a total transaction of $436,122.88. Following the sale, the chief accounting officer now owns 20,682 shares in the company, valued at $5,016,625.92. This represents a 8.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,819 shares of company stock worth $8,129,483 in the last quarter. 5.00% of the stock is owned by corporate insiders.

Institutional Trading of Penumbra

Several institutional investors and hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC increased its position in Penumbra by 111.1% during the 3rd quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock valued at $33,000 after purchasing an additional 90 shares during the period. CWM LLC boosted its stake in shares of Penumbra by 29.7% during the third quarter. CWM LLC now owns 2,011 shares of the company’s stock valued at $391,000 after purchasing an additional 461 shares in the last quarter. Creative Planning increased its holdings in Penumbra by 4.7% during the third quarter. Creative Planning now owns 1,574 shares of the company’s stock valued at $306,000 after buying an additional 71 shares during the period. Vontobel Holding Ltd. bought a new position in Penumbra in the third quarter worth approximately $1,092,000. Finally, Blue Trust Inc. raised its stake in Penumbra by 808.9% in the third quarter. Blue Trust Inc. now owns 509 shares of the company’s stock worth $92,000 after buying an additional 453 shares in the last quarter. 88.88% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on PEN shares. Citigroup boosted their target price on Penumbra from $220.00 to $245.00 and gave the company a “neutral” rating in a research report on Wednesday, December 11th. Oppenheimer initiated coverage on shares of Penumbra in a research note on Tuesday, December 17th. They issued an “outperform” rating and a $275.00 target price on the stock. Piper Sandler raised their target price on shares of Penumbra from $235.00 to $250.00 and gave the stock an “overweight” rating in a report on Wednesday, November 20th. Needham & Company LLC reiterated a “hold” rating on shares of Penumbra in a report on Thursday, October 31st. Finally, BTIG Research raised their price objective on shares of Penumbra from $232.00 to $270.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $261.36.

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.