Penumbra, Inc. (NYSE:PEN) Short Interest Down 23.5% in January

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

Penumbra Trading Down 1.9 %

NYSE:PEN traded down $5.06 during midday trading on Friday, hitting $267.83. The stock had a trading volume of 400,891 shares, compared to its average volume of 447,890. Penumbra has a one year low of $148.00 and a one year high of $277.89. The company has a market capitalization of $10.28 billion, a price-to-earnings ratio of 311.43, a PEG ratio of 1.92 and a beta of 0.53. The stock has a 50-day moving average of $255.04 and a 200 day moving average of $224.21. 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 Transactions at Penumbra

In other news, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $239.74, for a total value of $143,844.00. Following the sale, the executive vice president now directly owns 64,044 shares of the company’s stock, valued at approximately $15,353,908.56. The trade was a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Adam Elsesser sold 15,000 shares of Penumbra stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $237.28, for a total value of $3,559,200.00. Following the completion of the sale, the chief executive officer now directly owns 852,582 shares in the company, valued at $202,300,656.96. This trade represents a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,819 shares of company stock valued at $8,129,483. 5.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. bought a new position in Penumbra in the fourth quarter worth approximately $573,000. State Street Corp lifted its holdings in Penumbra by 0.3% during the third quarter. State Street Corp now owns 1,236,671 shares of the company’s stock worth $240,298,000 after buying an additional 3,863 shares during the period. Thrivent Financial for Lutherans lifted its holdings in Penumbra by 3,832.3% during the third quarter. Thrivent Financial for Lutherans now owns 368,298 shares of the company’s stock worth $71,564,000 after buying an additional 358,932 shares during the period. E. Ohman J or Asset Management AB lifted its holdings in Penumbra by 10.4% during the fourth quarter. E. Ohman J or Asset Management AB now owns 21,312 shares of the company’s stock worth $5,061,000 after buying an additional 2,000 shares during the period. Finally, AlphaCentric Advisors LLC purchased a new stake in Penumbra during the third quarter worth $777,000. Institutional investors own 88.88% of the company’s stock.

Wall Street Analyst Weigh In

PEN has been the subject of several recent research reports. Piper Sandler lifted their price target on Penumbra from $235.00 to $250.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 20th. Citigroup lifted their price target on Penumbra from $220.00 to $245.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 11th. Oppenheimer initiated coverage on Penumbra in a research report on Tuesday, December 17th. They issued an “outperform” rating and a $275.00 price target for the company. Needham & Company LLC reiterated a “hold” rating on shares of Penumbra in a research report on Thursday, October 31st. Finally, Truist Financial lifted their price target on Penumbra from $240.00 to $285.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $261.36.

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.