Penumbra (PEN) Set to Announce Quarterly Earnings on Tuesday

Penumbra (NYSE:PEN) will issue its quarterly earnings data after the market closes on Tuesday, May 7th. Analysts expect the company to announce earnings of $0.42 per share for the quarter. Penumbra has set its FY 2024 guidance at EPS.Individual that are interested in participating in the company’s earnings conference call can do so using this link.

Penumbra (NYSE:PEN) last posted its earnings results on Thursday, February 22nd. The company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.05. Penumbra had a return on equity of 7.49% and a net margin of 8.59%. The firm had revenue of $284.68 million for the quarter, compared to analyst estimates of $286.62 million. During the same period in the previous year, the company posted $0.16 earnings per share. The company’s revenue for the quarter was up 28.7% on a year-over-year basis. On average, analysts expect Penumbra to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Penumbra Stock Down 1.2 %

Shares of Penumbra stock opened at $201.94 on Tuesday. Penumbra has a 1 year low of $180.93 and a 1 year high of $348.67. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.06 and a quick ratio of 3.49. The company has a market capitalization of $7.83 billion, a P/E ratio of 87.42, a price-to-earnings-growth ratio of 2.02 and a beta of 0.51. The business has a 50-day moving average of $226.70 and a two-hundred day moving average of $231.91.

Insider Transactions at Penumbra

In related news, Director Don W. Kassing sold 170 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $223.18, for a total value of $37,940.60. Following the completion of the transaction, the director now directly owns 1,175 shares of the company’s stock, valued at $262,236.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Penumbra news, EVP Johanna Roberts sold 600 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $237.68, for a total transaction of $142,608.00. Following the transaction, the executive vice president now owns 62,997 shares of the company’s stock, valued at $14,973,126.96. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Don W. Kassing sold 170 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $223.18, for a total value of $37,940.60. Following the completion of the sale, the director now directly owns 1,175 shares of the company’s stock, valued at $262,236.50. The disclosure for this sale can be found here. Insiders have sold a total of 9,648 shares of company stock worth $2,369,903 in the last 90 days. Corporate insiders own 5.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Piper Sandler reiterated an “overweight” rating and issued a $290.00 price target on shares of Penumbra in a report on Wednesday, April 3rd. Canaccord Genuity Group reiterated a “buy” rating and set a $284.00 target price on shares of Penumbra in a report on Friday, February 23rd. Truist Financial dropped their price target on Penumbra from $290.00 to $280.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. TheStreet raised Penumbra from a “d+” rating to a “c-” rating in a research report on Friday, January 12th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $289.00 target price on shares of Penumbra in a research report on Friday, February 23rd. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $304.45.

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.