Q4 Earnings Forecast for Penumbra Issued By Leerink Partnrs

Penumbra, Inc. (NYSE:PEN) – Research analysts at Leerink Partnrs lifted their Q4 2024 earnings estimates for shares of Penumbra in a note issued to investors on Monday, November 25th. Leerink Partnrs analyst M. Kratky now forecasts that the company will post earnings of $0.88 per share for the quarter, up from their prior estimate 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.

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

Other research analysts have also recently issued research reports about the stock. Leerink Partners began coverage on shares of Penumbra in a report on Tuesday, September 3rd. They set an “outperform” rating and a $263.00 price objective for the company. Stifel Nicolaus began coverage on shares of Penumbra in a report on Tuesday, September 17th. They set a “buy” rating and a $238.00 target price on the stock. Citigroup upped their price target on shares of Penumbra from $178.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, August 22nd. Wells Fargo & Company cut shares of Penumbra from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $289.00 to $150.00 in a research report on Wednesday, July 31st. Finally, Needham & Company LLC reissued a “hold” rating on shares of Penumbra in a research note on Thursday, October 31st. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $230.92.

Penumbra Stock Performance

Shares of PEN stock opened at $244.15 on Wednesday. The stock has a market cap of $9.37 billion, a PE ratio of 283.90, a price-to-earnings-growth ratio of 2.47 and a beta of 0.51. The stock has a 50-day moving average of $214.90 and a 200-day moving average of $197.95. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.82 and a quick ratio of 3.25. Penumbra has a one year low of $148.00 and a one year high of $277.34.

Penumbra announced that its board has authorized a stock buyback program on Tuesday, August 13th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the company to purchase up to 2.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other news, Director Harpreet Grewal sold 782 shares of Penumbra stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $204.11, for a total transaction of $159,614.02. Following the completion of the transaction, the director now directly owns 8,863 shares in the company, valued at approximately $1,809,026.93. The trade was a 8.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Johanna Roberts sold 600 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $190.76, for a total value of $114,456.00. Following the completion of the sale, the executive vice president now owns 60,488 shares in the company, valued at approximately $11,538,690.88. This trade represents a 0.98 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,748 shares of company stock worth $10,166,574. Insiders own 5.00% of the company’s stock.

Hedge Funds Weigh In On Penumbra

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PEN. True Wealth Design LLC acquired a new stake in shares of Penumbra during the 3rd quarter worth about $26,000. GAMMA Investing LLC lifted 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 acquiring an additional 90 shares during the last quarter. WASHINGTON TRUST Co acquired a new stake in Penumbra during the second quarter worth approximately $54,000. Park Place Capital Corp boosted its holdings in shares of Penumbra by 1,473.9% during the third quarter. Park Place Capital Corp now owns 362 shares of the company’s stock worth $70,000 after acquiring 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 last quarter. 88.88% of the stock is owned by institutional investors.

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.