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

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

Penumbra Price Performance

Shares of Penumbra stock opened at $272.96 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.82 and a quick ratio of 3.25. The business has a 50 day simple moving average of $253.82 and a two-hundred day simple moving average of $222.88. The stock 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. Penumbra has a 12 month low of $148.00 and a 12 month high of $277.89.

Analysts Set New Price Targets

PEN has been the subject of a number of research reports. 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 started coverage on Penumbra in a research report on Tuesday, December 17th. They issued an “outperform” rating and a $275.00 target price on the stock. Piper Sandler raised their price target on shares of Penumbra from $235.00 to $250.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 20th. BTIG Research upped their price objective on shares of Penumbra from $232.00 to $270.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Finally, Robert W. Baird raised their target price on shares of Penumbra from $244.00 to $248.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $261.36.

Insider Transactions at Penumbra

In related news, EVP Johanna Roberts sold 600 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $239.74, for a total value of $143,844.00. Following the completion of the transaction, the executive vice president now directly owns 64,044 shares of the company’s stock, valued at $15,353,908.56. This trade represents a 0.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Lambert Shiu sold 1,798 shares of Penumbra stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $242.56, for a total transaction of $436,122.88. Following the completion of the sale, the chief accounting officer now owns 20,682 shares of the company’s stock, valued at $5,016,625.92. This trade represents a 8.00 % 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. Corporate insiders own 5.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. FMR LLC grew its holdings in shares of Penumbra by 2.1% during the third quarter. FMR LLC now owns 5,896,396 shares of the company’s stock worth $1,145,729,000 after buying an additional 121,465 shares in the last quarter. Champlain Investment Partners LLC boosted its position in Penumbra by 20.6% during the third quarter. Champlain Investment Partners LLC now owns 1,547,972 shares of the company’s stock worth $300,786,000 after acquiring an additional 264,122 shares during the last quarter. State Street Corp grew its stake in Penumbra by 0.3% during the 3rd quarter. State Street Corp now owns 1,236,671 shares of the company’s stock valued at $240,298,000 after acquiring an additional 3,863 shares in the last quarter. RTW Investments LP raised its holdings in Penumbra by 7.2% in the 3rd quarter. RTW Investments LP now owns 795,750 shares of the company’s stock valued at $154,622,000 after acquiring an additional 53,645 shares during the last quarter. Finally, Baillie Gifford & Co. raised its holdings in Penumbra by 23.4% in the 4th quarter. Baillie Gifford & Co. now owns 730,233 shares of the company’s stock valued at $173,416,000 after acquiring an additional 138,387 shares during the last quarter. 88.88% of the stock is owned by institutional investors and hedge funds.

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.