Leerink Partnrs Estimates Penumbra’s Q4 Earnings (NYSE:PEN)

Penumbra, Inc. (NYSE:PEN) – Leerink Partnrs increased their Q4 2024 earnings per share estimates for Penumbra in a research note issued to investors on Monday, November 25th. Leerink Partnrs analyst M. Kratky now anticipates that the company will post earnings per share of $0.88 for the quarter, up from their prior forecast of $0.74. Leerink Partnrs has a “Strong-Buy” rating on the stock. The consensus estimate for Penumbra’s current full-year earnings is $2.81 per share. Leerink Partnrs also issued estimates for Penumbra’s Q1 2025 earnings at $0.83 EPS, Q2 2025 earnings at $0.99 EPS, Q3 2025 earnings at $1.09 EPS and Q4 2025 earnings at $1.19 EPS.

PEN has been the subject of several other reports. Piper Sandler upped their target price on Penumbra from $235.00 to $250.00 and gave the company an “overweight” rating in a report on Wednesday, November 20th. Robert W. Baird increased their target price on Penumbra from $244.00 to $248.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Leerink Partners initiated coverage on Penumbra in a research note on Tuesday, September 3rd. They set an “outperform” rating and a $263.00 target price on the stock. Royal Bank of Canada increased their price target on Penumbra from $205.00 to $222.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Finally, Stifel Nicolaus initiated coverage on Penumbra in a research report on Tuesday, September 17th. They issued a “buy” rating and a $238.00 price target on the stock. Five analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $230.92.

Penumbra Stock Up 1.7 %

Shares of PEN opened at $248.96 on Wednesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.25 and a current ratio of 5.82. Penumbra has a one year low of $148.00 and a one year high of $277.34. The stock has a market capitalization of $9.56 billion, a price-to-earnings ratio of 289.49, a PEG ratio of 2.47 and a beta of 0.51. The stock has a 50 day moving average price of $213.93 and a 200 day moving average price of $197.63.

Penumbra (NYSE:PEN) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.16. Penumbra had a return on equity of 8.99% and a net margin of 2.97%. The company had revenue of $301.04 million during the quarter, compared to analysts’ expectations of $297.36 million. During the same period last year, the business earned $0.67 earnings per share. Penumbra’s quarterly revenue was up 11.1% on a year-over-year basis.

Penumbra announced that its Board of Directors has approved a share buyback plan on Tuesday, August 13th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to buy up to 2.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other Penumbra news, EVP Johanna Roberts sold 600 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $206.22, for a total transaction of $123,732.00. Following the completion of the transaction, the executive vice president now owns 61,088 shares of the company’s stock, valued at approximately $12,597,567.36. This trade represents a 0.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Adam Elsesser sold 15,000 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $197.71, for a total value of $2,965,650.00. Following the transaction, the chief executive officer now directly owns 882,582 shares of the company’s stock, valued at $174,495,287.22. The trade was a 1.67 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,748 shares of company stock valued at $10,166,574. 5.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Penumbra

Hedge funds have recently bought and sold shares of the stock. True Wealth Design LLC purchased a new position in Penumbra during the third quarter worth $26,000. GAMMA Investing LLC increased its position in Penumbra by 111.1% during the third quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock worth $33,000 after buying an additional 90 shares in the last quarter. WASHINGTON TRUST Co purchased a new stake in shares of Penumbra in the second quarter valued at $54,000. Park Place Capital Corp grew its position in shares of Penumbra by 1,473.9% in the third quarter. Park Place Capital Corp now owns 362 shares of the company’s stock valued at $70,000 after purchasing an additional 339 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of Penumbra by 1,845.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 389 shares of the company’s stock valued at $70,000 after purchasing an additional 369 shares during the period. Hedge funds and other institutional investors own 88.88% 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.