Penumbra (PEN) to Release Earnings on Wednesday

Penumbra (NYSE:PEN) is scheduled to be posting its quarterly earnings results after the market closes on Wednesday, October 30th. Analysts expect Penumbra to post earnings of $0.69 per share for the quarter. Penumbra has set its FY 2024 guidance at EPS.Individual interested in registering for the company’s earnings conference call can do so using this link.

Penumbra (NYSE:PEN) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.56 by $0.08. The business had revenue of $299.40 million for the quarter, compared to analysts’ expectations of $298.24 million. Penumbra had a net margin of 1.26% and a return on equity of 8.39%. The business’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.43 EPS. On average, analysts expect Penumbra to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Penumbra Stock Down 0.4 %

Shares of PEN stock opened at $205.77 on Wednesday. The stock has a market cap of $7.99 billion, a P/E ratio of 605.21, a PEG ratio of 2.39 and a beta of 0.54. Penumbra has a 52 week low of $148.00 and a 52 week high of $277.34. The company has a quick ratio of 3.77, a current ratio of 6.25 and a debt-to-equity ratio of 0.02. The company’s fifty day simple moving average is $197.66 and its two-hundred day simple moving average is $193.92.

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

Insider Buying and Selling at Penumbra

In other Penumbra news, CEO Adam Elsesser sold 15,000 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $197.71, for a total value of $2,965,650.00. Following the completion of the sale, 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 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Johanna Roberts sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $175.98, for a total value of $105,588.00. Following the completion of the sale, the executive vice president now owns 61,688 shares of the company’s stock, valued at approximately $10,855,854.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Adam Elsesser sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $197.71, for a total transaction of $2,965,650.00. Following the completion of the sale, 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 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,368 shares of company stock valued at $3,824,718 in the last three months. Company insiders own 5.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PEN. Royal Bank of Canada boosted their target price on shares of Penumbra from $205.00 to $222.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Truist Financial boosted their target price on shares of Penumbra from $200.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Leerink Partnrs upgraded shares of Penumbra to a “strong-buy” rating in a report on Tuesday, September 3rd. Robert W. Baird cut their price target on shares of Penumbra from $231.00 to $180.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. Finally, Stifel Nicolaus began coverage on shares of Penumbra in a report on Tuesday, September 17th. They set a “buy” rating and a $238.00 price target on the stock. Five analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $220.17.

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.