Penumbra (NYSE:PEN) Announces Quarterly Earnings Results

Penumbra (NYSE:PEN) posted its quarterly earnings results on Tuesday. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.01), Briefing.com reports. The firm had revenue of $278.70 million during the quarter, compared to analysts’ expectations of $274.94 million. Penumbra had a net margin of 8.59% and a return on equity of 7.49%. The business’s quarterly revenue was up 15.5% on a year-over-year basis. During the same period last year, the company earned $0.23 EPS.

Penumbra Stock Down 3.7 %

NYSE PEN traded down $7.84 on Wednesday, hitting $202.16. 553,945 shares of the stock were exchanged, compared to its average volume of 348,795. The company has a market cap of $7.84 billion, a PE ratio of 87.36, a PEG ratio of 2.06 and a beta of 0.57. The company has a 50-day moving average price of $221.64 and a 200-day moving average price of $232.02. Penumbra has a fifty-two week low of $180.93 and a fifty-two week high of $348.67. The company has a quick ratio of 3.49, a current ratio of 6.06 and a debt-to-equity ratio of 0.02.

Analysts Set New Price Targets

PEN has been the topic of several recent analyst reports. TheStreet raised Penumbra from a “d+” rating to a “c-” rating in a research note on Friday, January 12th. Canaccord Genuity Group decreased their price objective on shares of Penumbra from $284.00 to $272.00 and set a “buy” rating on the stock in a report on Wednesday. Needham & Company LLC restated a “hold” rating on shares of Penumbra in a research note on Wednesday. JPMorgan Chase & Co. downgraded Penumbra from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $284.00 to $250.00 in a report on Friday, February 23rd. Finally, Truist Financial lowered their target price on Penumbra from $290.00 to $280.00 and set a “buy” rating for the company in a report on Friday, March 22nd. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Penumbra has an average rating of “Moderate Buy” and a consensus target price of $300.64.

Insider Buying and Selling

In other news, EVP Johanna Roberts sold 600 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $217.07, for a total value of $130,242.00. Following the completion of the sale, the executive vice president now directly owns 64,281 shares of the company’s stock, valued at approximately $13,953,476.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Johanna Roberts sold 600 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $217.07, for a total value of $130,242.00. Following the completion of the sale, the executive vice president now owns 64,281 shares in the company, valued at $13,953,476.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Don W. Kassing sold 170 shares of Penumbra stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $223.18, for a total transaction of $37,940.60. Following the transaction, the director now owns 1,175 shares of the company’s stock, valued at approximately $262,236.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,648 shares of company stock worth $2,369,903. Corporate insiders own 5.00% of the company’s stock.

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.