Penumbra (PEN) to Release Quarterly Earnings on Tuesday

Penumbra (NYSE:PEN) is set to issue its quarterly earnings data after the market closes on Tuesday, July 30th. Analysts expect the company to announce earnings of $0.56 per share for the quarter. Parties interested in participating in the company’s conference call can do so using this link.

Penumbra (NYSE:PEN) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). Penumbra had a return on equity of 7.83% and a net margin of 8.52%. The firm had revenue of $278.70 million during the quarter, compared to analysts’ expectations of $274.94 million. During the same period last year, the company earned $0.23 earnings per share. The business’s revenue for the quarter was up 15.5% compared to the same quarter last year. On average, analysts expect Penumbra to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Penumbra Stock Performance

Penumbra stock opened at $178.43 on Monday. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.12 and a quick ratio of 3.51. Penumbra has a 1-year low of $170.59 and a 1-year high of $310.51. The firm has a market capitalization of $6.92 billion, a P/E ratio of 75.29, a price-to-earnings-growth ratio of 1.80 and a beta of 0.55. The company’s 50-day moving average is $186.61 and its 200 day moving average is $217.00.

Analyst Ratings Changes

A number of brokerages have recently commented on PEN. Citigroup reduced their target price on shares of Penumbra from $300.00 to $265.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. Canaccord Genuity Group reduced their target price on shares of Penumbra from $284.00 to $272.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. Truist Financial reduced their target price on shares of Penumbra from $280.00 to $230.00 and set a “buy” rating on the stock in a research report on Tuesday, July 16th. Morgan Stanley reduced their target price on shares of Penumbra from $235.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Monday, July 15th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Penumbra in a research report on Wednesday, May 8th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $260.56.

Insider Activity at Penumbra

In related news, CEO Adam Elsesser sold 15,000 shares of Penumbra stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $200.98, for a total transaction of $3,014,700.00. Following the transaction, the chief executive officer now directly owns 942,582 shares of the company’s stock, valued at $189,440,130.36. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Penumbra news, EVP Johanna Roberts sold 600 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $207.41, for a total value of $124,446.00. Following the completion of the sale, the executive vice president now directly owns 63,488 shares in the company, valued at $13,168,046.08. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Adam Elsesser sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $200.98, for a total transaction of $3,014,700.00. Following the completion of the sale, the chief executive officer now owns 942,582 shares of the company’s stock, valued at $189,440,130.36. The disclosure for this sale can be found here. Insiders have sold a total of 31,970 shares of company stock valued at $6,428,404 over the last ninety days. 5.00% of the stock is owned by company insiders.

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.