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

Penumbra, Inc. (NYSE:PEN) saw a large decrease in short interest in April. As of April 15th, there was short interest totaling 2,007,168 shares, a decrease of 17.7% from the March 31st total of 2,437,639 shares. Based on an average daily trading volume, of 473,304 shares, the days-to-cover ratio is presently 4.2 days. Currently, 5.3% of the company’s stock are short sold.

Penumbra Stock Performance

NYSE:PEN traded down $0.87 during midday trading on Friday, reaching $325.61. The stock had a trading volume of 431,508 shares, compared to its average volume of 489,224. Penumbra has a 1-year low of $221.26 and a 1-year high of $362.41. The firm’s fifty day simple moving average is $334.12 and its 200-day simple moving average is $313.67. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.64 and a quick ratio of 4.29. The stock has a market capitalization of $12.78 billion, a P/E ratio of 72.04, a PEG ratio of 2.00 and a beta of 0.74.

Penumbra (NYSE:PEN) last posted its earnings results on Wednesday, February 25th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.12 by ($1.49). Penumbra had a net margin of 12.66% and a return on equity of 11.41%. The firm had revenue of $385.39 million during the quarter, compared to analyst estimates of $367.18 million. During the same quarter in the previous year, the business posted $0.97 earnings per share. The business’s quarterly revenue was up 22.2% compared to the same quarter last year. On average, equities research analysts forecast that Penumbra will post 5.08 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently commented on PEN shares. Royal Bank Of Canada lowered shares of Penumbra from an “outperform” rating to a “sector perform” rating and increased their price target for the stock from $355.00 to $374.00 in a research note on Tuesday, January 20th. Wall Street Zen lowered shares of Penumbra from a “buy” rating to a “hold” rating in a research note on Saturday, January 17th. Robert W. Baird restated a “neutral” rating and set a $374.00 price target (up from $345.00) on shares of Penumbra in a research note on Friday, January 16th. Piper Sandler lowered shares of Penumbra from an “overweight” rating to a “hold” rating and set a $374.00 price target on the stock. in a research note on Thursday, January 15th. Finally, Evercore restated an “outperform” rating and set a $360.00 price target on shares of Penumbra in a research note on Wednesday, February 25th. Three research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $364.60.

Insider Buying and Selling

In other Penumbra news, Director Harpreet Grewal sold 100 shares of the stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $328.22, for a total value of $32,822.00. Following the completion of the sale, the director owned 8,719 shares in the company, valued at $2,861,750.18. This represents a 1.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Maggie Yuen sold 2,432 shares of the stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $342.30, for a total transaction of $832,473.60. Following the completion of the sale, the chief financial officer owned 18,353 shares of the company’s stock, valued at approximately $6,282,231.90. The trade was a 11.70% decrease in their position. The SEC filing for this sale provides additional information. 4.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Larson Financial Group LLC grew its stake in Penumbra by 4,100.0% in the 4th quarter. Larson Financial Group LLC now owns 84 shares of the company’s stock valued at $26,000 after buying an additional 82 shares during the last quarter. CIBC Private Wealth Group LLC boosted its holdings in Penumbra by 2,700.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 84 shares of the company’s stock valued at $26,000 after purchasing an additional 81 shares during the period. Motiv8 Investments LLC bought a new stake in Penumbra in the 4th quarter valued at $27,000. Mather Group LLC. bought a new stake in Penumbra in the 3rd quarter valued at $25,000. Finally, Morse Asset Management Inc bought a new stake in Penumbra in the 4th quarter valued at $39,000. 88.88% of the stock is currently owned by institutional investors and hedge funds.

Penumbra Company Profile

Penumbra, Inc is a global healthcare company specializing in the development and manufacture of innovative medical devices that address neurovascular and peripheral vascular conditions. The company focuses on products designed to improve patient outcomes in acute ischemic stroke, aneurysm treatment and peripheral thrombectomy. Penumbra’s technologies are used by interventional neuroradiologists, neurosurgeons and interventional cardiologists in hospitals and clinics around the world.

At the core of Penumbra’s portfolio is its mechanical thrombectomy platform, which includes aspiration catheters and accessory devices engineered to remove blood clots in acute stroke cases.