Penumbra (PEN) Scheduled to Post Quarterly Earnings on Tuesday

Penumbra (NYSE:PEN) is scheduled to be issuing 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 interested in listening to the company’s conference call can do so using this link.

Penumbra (NYSE:PEN) last announced its quarterly earnings data on Thursday, February 22nd. The company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $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 Price Performance

Shares of NYSE:PEN opened at $201.94 on Tuesday. The company has a quick ratio of 3.49, a current ratio of 6.06 and a debt-to-equity ratio of 0.02. The stock has a market cap of $7.83 billion, a PE ratio of 87.42, a PEG ratio of 2.02 and a beta of 0.51. The company’s fifty day moving average is $226.70 and its 200 day moving average is $231.91. Penumbra has a 52 week low of $180.93 and a 52 week high of $348.67.

Wall Street Analysts Forecast Growth

PEN has been the topic of several analyst reports. Truist Financial decreased their price objective on Penumbra from $290.00 to $280.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $284.00 price target on shares of Penumbra in a research note on Friday, February 23rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $289.00 price objective on shares of Penumbra in a research report on Friday, February 23rd. Piper Sandler restated an “overweight” rating and issued a $290.00 target price on shares of Penumbra in a report on Wednesday, April 3rd. Finally, JPMorgan Chase & Co. downgraded shares of Penumbra from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $284.00 to $250.00 in a research note on Friday, February 23rd. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Penumbra presently has an average rating of “Moderate Buy” and a consensus price target of $304.45.

Insider Activity

In other news, 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 directly owns 1,175 shares of the company’s stock, valued at approximately $262,236.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Penumbra news, Director Don W. Kassing sold 170 shares of Penumbra stock in a transaction that occurred on Monday, April 1st. The shares were 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 $262,236.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Johanna Roberts sold 600 shares of the 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 directly owns 62,997 shares of the company’s stock, valued at $14,973,126.96. The disclosure for this sale can be found here. Insiders sold a total of 9,648 shares of company stock valued at $2,369,903 in the last 90 days. Company insiders own 5.30% of the company’s stock.

Penumbra Company Profile

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.