Penumbra, Inc. (NYSE:PEN) Expected to Post Quarterly Sales of $194.20 Million

Analysts expect Penumbra, Inc. (NYSE:PEN) to post sales of $194.20 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Penumbra’s earnings, with estimates ranging from $194.20 million to $194.21 million. Penumbra reported sales of $166.90 million in the same quarter last year, which indicates a positive year-over-year growth rate of 16.4%. The company is scheduled to report its next quarterly earnings report on Tuesday, February 22nd.

According to Zacks, analysts expect that Penumbra will report full-year sales of $737.79 million for the current year, with estimates ranging from $737.78 million to $737.80 million. For the next year, analysts expect that the business will post sales of $862.13 million, with estimates ranging from $853.26 million to $867.20 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Penumbra.

Penumbra (NYSE:PEN) last posted its quarterly earnings data on Wednesday, November 3rd. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.02). Penumbra had a net margin of 4.72% and a return on equity of 5.77%. During the same period in the previous year, the firm posted $0.06 EPS.

Several research firms have issued reports on PEN. Zacks Investment Research raised Penumbra from a “sell” rating to a “hold” rating in a report on Tuesday. Truist Securities started coverage on Penumbra in a research note on Thursday, September 16th. They issued a “buy” rating and a $350.00 price objective for the company. Truist assumed coverage on Penumbra in a research note on Wednesday, September 15th. They issued a “buy” rating and a $350.00 price objective for the company. BTIG Research increased their price target on Penumbra from $299.00 to $308.00 and gave the company a “buy” rating in a research note on Tuesday, August 10th. Finally, Citigroup increased their price target on Penumbra from $335.00 to $340.00 and gave the company a “buy” rating in a research note on Tuesday, August 10th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $331.00.

NYSE:PEN traded up $3.37 during mid-day trading on Monday, hitting $259.98. 92,055 shares of the company traded hands, compared to its average volume of 270,011. The stock’s fifty day moving average price is $270.30 and its 200-day moving average price is $267.48. Penumbra has a one year low of $163.49 and a one year high of $320.00. The company has a quick ratio of 3.53, a current ratio of 5.76 and a debt-to-equity ratio of 0.04. The firm has a market cap of $9.71 billion, a price-to-earnings ratio of 285.69, a price-to-earnings-growth ratio of 15.14 and a beta of 0.26.

In other Penumbra news, Director Harpreet Grewal sold 634 shares of the stock in a transaction on Friday, October 1st. The stock was sold at an average price of $267.06, for a total transaction of $169,316.04. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Adam Elsesser sold 14,500 shares of the firm’s stock in a transaction on Thursday, November 11th. The stock was sold at an average price of $264.18, for a total value of $3,830,610.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 63,403 shares of company stock worth $16,942,659. Company insiders own 7.50% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Ergoteles LLC purchased a new position in Penumbra in the 2nd quarter worth $2,714,000. Point72 Asset Management L.P. purchased a new position in Penumbra in the 1st quarter worth $9,254,000. Aegon Asset Management UK PLC raised its stake in shares of Penumbra by 14.9% during the 2nd quarter. Aegon Asset Management UK PLC now owns 29,335 shares of the company’s stock valued at $8,047,000 after buying an additional 3,793 shares during the last quarter. Amalgamated Bank raised its stake in shares of Penumbra by 315.7% during the 2nd quarter. Amalgamated Bank now owns 26,707 shares of the company’s stock valued at $7,319,000 after buying an additional 20,282 shares during the last quarter. Finally, Financial Counselors Inc. raised its stake in shares of Penumbra by 13.3% during the 2nd quarter. Financial Counselors Inc. now owns 850 shares of the company’s stock valued at $233,000 after buying an additional 100 shares during the last quarter. Institutional investors own 80.58% of the company’s stock.

Penumbra Company Profile

Penumbra, Inc engages in the design, development, manufacture, and marketing of innovative medical devices. It offers thrombectomy, embolization, access, neurosurgical tools, ruby coil system, lantern, penumbra occlusion device (POD) system, packing coil, and indigo systems products. Its target markets include interventional neuroradiologists, neurosurgeons, and interventional neurologists; and interventional radiologists, vascular surgeons, and interventional cardiologists.

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Earnings History and Estimates for Penumbra (NYSE:PEN)

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