Penumbra (NYSE:PEN) Announces Quarterly Earnings Results

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

Penumbra Trading Down 4.1 %

PEN stock traded down $8.61 during midday trading on Wednesday, hitting $201.39. The stock had a trading volume of 505,652 shares, compared to its average volume of 348,307. The company has a current ratio of 6.06, a quick ratio of 3.49 and a debt-to-equity ratio of 0.02. The business has a fifty day moving average price of $221.64 and a two-hundred day moving average price of $232.02. Penumbra has a 1-year low of $180.93 and a 1-year high of $348.67. The firm has a market cap of $7.81 billion, a P/E ratio of 88.45, a price-to-earnings-growth ratio of 2.06 and a beta of 0.57.

Insider Transactions at Penumbra

In related news, EVP Johanna Roberts sold 600 shares of the firm’s stock in a transaction that occurred 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 $14,973,126.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Don W. Kassing sold 170 shares of the stock in a transaction 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 directly owns 1,175 shares of the company’s stock, valued at $262,236.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 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. In the last ninety days, insiders sold 9,648 shares of company stock valued at $2,369,903. Corporate insiders own 5.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PEN. Royal Bank of Canada reiterated an “outperform” rating and set a $289.00 price objective on shares of Penumbra in a research report on Friday, February 23rd. Needham & Company LLC reiterated a “hold” rating on shares of Penumbra in a research report on Wednesday. Truist Financial cut their price target on Penumbra from $290.00 to $280.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Piper Sandler dropped their price objective on shares of Penumbra from $290.00 to $260.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, JPMorgan Chase & Co. cut shares of Penumbra from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $284.00 to $250.00 in a research report on Friday, February 23rd. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $301.73.

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.