Penumbra (NYSE:PEN) Releases Quarterly Earnings Results, Beats Expectations By $0.09 EPS

Penumbra (NYSE:PEN) released its earnings results on Tuesday. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.09, Zacks reports. Penumbra had a return on equity of 8.99% and a net margin of 2.97%. Penumbra updated its FY 2025 guidance to EPS.

Penumbra Stock Performance

Shares of PEN stock opened at $270.99 on Wednesday. The business’s 50-day moving average price is $255.58 and its 200-day moving average price is $225.29. Penumbra has a 12 month low of $148.00 and a 12 month high of $277.89. The firm has a market capitalization of $10.40 billion, a price-to-earnings ratio of 315.10, a PEG ratio of 1.97 and a beta of 0.53. The company has a current ratio of 5.82, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PEN. Piper Sandler increased their target price on Penumbra from $235.00 to $250.00 and gave the stock an “overweight” rating in a report on Wednesday, November 20th. Robert W. Baird increased their target price on Penumbra from $305.00 to $328.00 and gave the stock an “outperform” rating in a report on Wednesday. BTIG Research increased their target price on Penumbra from $232.00 to $270.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Truist Financial raised their price objective on Penumbra from $240.00 to $285.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Finally, Citigroup raised their price objective on Penumbra from $220.00 to $245.00 and gave the company a “neutral” rating in a research note on Wednesday, December 11th. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $267.07.

Insider Activity

In other news, CEO Adam Elsesser sold 15,000 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $242.96, for a total transaction of $3,644,400.00. Following the completion of the transaction, the chief executive officer now directly owns 837,582 shares in the company, valued at $203,498,922.72. This trade represents a 1.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Harpreet Grewal sold 167 shares of the firm’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $241.28, for a total value of $40,293.76. Following the transaction, the director now owns 8,530 shares of the company’s stock, valued at $2,058,118.40. This trade represents a 1.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,219 shares of company stock valued at $4,426,439. 5.00% of the stock is currently owned by corporate insiders.

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.