Penumbra (NYSE:PEN) Issues Quarterly Earnings Results

Penumbra (NYSE:PEN) announced its quarterly earnings data on Tuesday. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01), Briefing.com reports. The company had revenue of $278.70 million for 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 company’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same period last year, the business earned $0.23 earnings per share.

Penumbra Trading Down 4.1 %

NYSE PEN traded down $8.61 on Wednesday, hitting $201.39. 505,652 shares of the stock were exchanged, compared to its average volume of 348,307. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.49 and a current ratio of 6.06. Penumbra has a 52-week low of $180.93 and a 52-week high of $348.67. The firm has a market capitalization of $7.81 billion, a P/E ratio of 88.45, a P/E/G ratio of 2.06 and a beta of 0.57. The stock has a fifty day moving average price of $221.64 and a two-hundred day moving average price of $232.02.

Analyst Ratings Changes

A number of brokerages recently weighed in on PEN. TheStreet upgraded shares of Penumbra from a “d+” rating to a “c-” rating in a research report on Friday, January 12th. Needham & Company LLC reissued a “hold” rating on shares of Penumbra in a report on Wednesday. Piper Sandler reduced their target price on Penumbra from $290.00 to $260.00 and set an “overweight” rating on the stock in a report on Wednesday. Truist Financial dropped their price target on Penumbra from $290.00 to $280.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $284.00 price objective on shares of Penumbra in a research note on Friday, February 23rd. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $301.73.

Insider Activity

In related news, Director Don W. Kassing sold 778 shares of Penumbra stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $234.72, for a total transaction of $182,612.16. Following the completion of the transaction, the director now directly owns 1,345 shares of the company’s stock, valued at approximately $315,698.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Penumbra news, Director Don W. Kassing sold 778 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $234.72, for a total value of $182,612.16. Following the completion of the sale, the director now owns 1,345 shares of the company’s stock, valued at $315,698.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Don W. Kassing sold 170 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $223.18, for a total value of $37,940.60. Following the completion of the sale, the director now owns 1,175 shares in the company, valued at $262,236.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,648 shares of company stock valued at $2,369,903. 5.00% of the stock is currently 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.