Penumbra (PEN) Set to Announce Quarterly Earnings on Tuesday

Penumbra (NYSE:PEN) is scheduled to release its earnings data after the market closes on Tuesday, May 7th. Analysts expect Penumbra to post earnings of $0.42 per share for the quarter. Penumbra has set its FY 2024 guidance at EPS.Investors that wish to register for the company’s conference call can do so using this link.

Penumbra (NYSE:PEN) last issued its earnings results on Thursday, February 22nd. The company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.05. Penumbra had a net margin of 8.59% and a return on equity of 7.49%. The firm had revenue of $284.68 million during the quarter, compared to analyst estimates of $286.62 million. During the same quarter last year, the business earned $0.16 earnings per share. The company’s quarterly revenue was up 28.7% on a year-over-year basis. On average, analysts expect Penumbra to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Penumbra Stock Performance

NYSE PEN opened at $208.55 on Friday. The firm has a market cap of $8.08 billion, a P/E ratio of 90.28, a price-to-earnings-growth ratio of 2.03 and a beta of 0.57. 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 company’s 50 day moving average is $222.48 and its 200-day moving average is $231.78. Penumbra has a 12-month low of $180.93 and a 12-month high of $348.67.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $289.00 price target on shares of Penumbra in a report on Friday, February 23rd. JPMorgan Chase & Co. cut 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. TheStreet raised shares of Penumbra from a “d+” rating to a “c-” rating in a report on Friday, January 12th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $284.00 price objective on shares of Penumbra in a research note on Friday, February 23rd. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $290.00 target price on shares of Penumbra in a report on Wednesday, April 3rd. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $304.45.

Insider Transactions at Penumbra

In other Penumbra news, EVP Johanna Roberts sold 600 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 62,997 shares in the company, valued at $14,973,126.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Penumbra news, EVP Johanna Roberts sold 600 shares of the company’s stock in a transaction dated 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 in the company, valued at $14,973,126.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Don W. Kassing sold 778 shares of Penumbra stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $234.72, for a total value of $182,612.16. Following the completion of the transaction, the director now owns 1,345 shares in the company, valued at approximately $315,698.40. The disclosure for this sale can be found here. In the last three months, insiders sold 9,648 shares of company stock worth $2,369,903. 5.30% of the stock is currently owned by corporate 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.