Penumbra (PEN) to Release Earnings on Wednesday

Penumbra (NYSE:PEN) will be posting its quarterly earnings results after the market closes on Wednesday, October 30th. Analysts expect Penumbra to post earnings of $0.69 per share for the quarter. Penumbra has set its FY 2024 guidance at EPS.Investors interested in participating in the company’s conference call can do so using this link.

Penumbra (NYSE:PEN) last announced its earnings results on Tuesday, July 30th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.08. The firm had revenue of $299.40 million during the quarter, compared to analyst estimates of $298.24 million. Penumbra had a net margin of 1.26% and a return on equity of 8.39%. Penumbra’s revenue was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.43 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 Down 0.9 %

Penumbra stock opened at $204.71 on Monday. Penumbra has a 52 week low of $148.00 and a 52 week high of $277.34. The stock has a market cap of $7.95 billion, a price-to-earnings ratio of 602.09, a PEG ratio of 2.35 and a beta of 0.54. The company’s 50-day moving average price is $198.70 and its two-hundred day moving average price is $193.77. The company has a current ratio of 6.25, a quick ratio of 3.77 and a debt-to-equity ratio of 0.02.

Penumbra declared that its board has approved a share buyback plan on Tuesday, August 13th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 2.6% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of research firms have weighed in on PEN. Needham & Company LLC restated a “hold” rating on shares of Penumbra in a research report on Friday. Robert W. Baird cut their price objective on Penumbra from $231.00 to $180.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. Wells Fargo & Company lowered Penumbra from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $289.00 to $150.00 in a report on Wednesday, July 31st. Stifel Nicolaus started coverage on shares of Penumbra in a report on Tuesday, September 17th. They issued a “buy” rating and a $238.00 price target for the company. Finally, Morgan Stanley lowered their price objective on shares of Penumbra from $235.00 to $210.00 and set an “equal weight” rating on the stock in a research note on Monday, July 15th. Five analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $220.17.

Insider Activity

In related news, EVP Johanna Roberts sold 600 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $175.98, for a total value of $105,588.00. Following the completion of the transaction, the executive vice president now owns 61,688 shares of the company’s stock, valued at approximately $10,855,854.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, EVP Johanna Roberts sold 600 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $175.98, for a total transaction of $105,588.00. Following the transaction, the executive vice president now directly owns 61,688 shares of the company’s stock, valued at approximately $10,855,854.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Harpreet Grewal sold 782 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $204.11, for a total value of $159,614.02. Following the sale, the director now owns 8,863 shares of the company’s stock, valued at $1,809,026.93. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,368 shares of company stock worth $6,893,118 over the last 90 days. 5.00% of the stock is owned by company 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.