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

Penumbra, Inc. (NYSE:PEN) saw a large 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 presently 3.7 days.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PEN. UBS Group began coverage on Penumbra in a report on Tuesday, January 21st. They issued a “buy” rating and a $305.00 price target on the stock. BTIG Research raised their target price on Penumbra from $232.00 to $270.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Citigroup raised 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. Canaccord Genuity Group raised their target price on Penumbra from $260.00 to $323.00 and gave the company a “buy” rating in a report on Monday, December 9th. Finally, Robert W. Baird raised their target price on Penumbra from $244.00 to $248.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $261.36.

Penumbra Stock Performance

NYSE:PEN traded down $5.06 during trading hours on Friday, reaching $267.83. The stock had a trading volume of 400,891 shares, compared to its average volume of 447,890. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.25 and a current ratio of 5.82. The stock has a 50 day simple moving average of $255.04 and a 200 day simple moving average of $224.21. Penumbra has a 12-month low of $148.00 and a 12-month high of $277.89. The stock has a market cap of $10.28 billion, a P/E ratio of 311.43, a price-to-earnings-growth ratio of 1.92 and a beta of 0.53.

Insider Activity at Penumbra

In other Penumbra news, CEO Adam Elsesser sold 15,000 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 852,582 shares in the company, valued at approximately $202,300,656.96. This represents a 1.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Johanna Roberts sold 600 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was 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 owns 64,044 shares in the company, valued at approximately $15,353,908.56. The trade was a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,819 shares of company stock worth $8,129,483 in the last 90 days. Corporate insiders own 5.00% of the company’s stock.

Institutional Trading of Penumbra

A number of large investors have recently bought and sold shares of the company. Quadrant Capital Group LLC increased its position in Penumbra by 6.6% in the fourth quarter. Quadrant Capital Group LLC now owns 632 shares of the company’s stock worth $150,000 after buying an additional 39 shares during the last quarter. Pallas Capital Advisors LLC boosted its holdings in shares of Penumbra by 3.8% in the fourth quarter. Pallas Capital Advisors LLC now owns 1,108 shares of the company’s stock worth $263,000 after acquiring an additional 41 shares during the period. Advisors Asset Management Inc. boosted its holdings in shares of Penumbra by 11.5% in the third quarter. Advisors Asset Management Inc. now owns 416 shares of the company’s stock worth $81,000 after acquiring an additional 43 shares during the period. Pacer Advisors Inc. boosted its holdings in shares of Penumbra by 1.0% in the fourth quarter. Pacer Advisors Inc. now owns 5,721 shares of the company’s stock worth $1,359,000 after acquiring an additional 57 shares during the period. Finally, CIBC Asset Management Inc boosted its holdings in shares of Penumbra by 5.4% in the fourth quarter. CIBC Asset Management Inc now owns 1,183 shares of the company’s stock worth $281,000 after acquiring an additional 61 shares during the period. 88.88% of the stock is owned by hedge funds and other institutional investors.

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.