Penumbra (PEN) Set to Announce Quarterly Earnings on Tuesday

Penumbra (NYSE:PEN) is set to 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.Parties that are interested in participating in the company’s conference call can do so using this link.

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

Penumbra Stock Up 1.2 %

Shares of NYSE PEN opened at $208.55 on Monday. The stock has a market cap of $8.08 billion, a P/E ratio of 90.28, a PEG ratio of 2.06 and a beta of 0.57. The business’s fifty day simple moving average is $222.48 and its 200-day simple moving average is $231.96. Penumbra has a 12-month low of $180.93 and a 12-month high of $348.67. The company has a current ratio of 6.06, a quick ratio of 3.49 and a debt-to-equity ratio of 0.02.

Insider Activity at Penumbra

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

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Piper Sandler reissued an “overweight” rating and set a $290.00 price objective on shares of Penumbra in a research report on Wednesday, April 3rd. Truist Financial dropped their price objective on shares of Penumbra from $290.00 to $280.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. Canaccord Genuity Group reaffirmed a “buy” rating and set a $284.00 price objective on shares of Penumbra in a research report on Friday, February 23rd. TheStreet raised Penumbra from a “d+” rating to a “c-” rating in a report on Friday, January 12th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $289.00 price target on shares of Penumbra in a 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $304.45.

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.