Q4 Earnings Forecast for Penumbra Issued By Leerink Partnrs

Penumbra, Inc. (NYSE:PEN) – Equities research analysts at Leerink Partnrs reduced their Q4 2024 earnings per share estimates for shares of Penumbra in a report issued on Wednesday, October 30th. Leerink Partnrs analyst M. Kratky now expects that the company will earn $0.74 per share for the quarter, down from their previous estimate of $0.82. Leerink Partnrs currently has a “Strong-Buy” rating on the stock. The consensus estimate for Penumbra’s current full-year earnings is $2.58 per share. Leerink Partnrs also issued estimates for Penumbra’s Q1 2025 earnings at $0.70 EPS and Q2 2025 earnings at $0.93 EPS.

Penumbra (NYSE:PEN) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.16. Penumbra had a return on equity of 8.85% and a net margin of 2.97%. The business had revenue of $301.04 million for the quarter, compared to analysts’ expectations of $297.36 million. During the same quarter in the prior year, the firm posted $0.67 EPS. The firm’s quarterly revenue was up 11.1% on a year-over-year basis.

Several other equities analysts have also issued reports on the company. Needham & Company LLC restated a “hold” rating on shares of Penumbra in a research report on Thursday. Canaccord Genuity Group upped their price target on Penumbra from $176.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. BTIG Research boosted their target price on Penumbra from $224.00 to $234.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Citigroup boosted their target price on Penumbra from $178.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, August 22nd. Finally, Wells Fargo & Company downgraded Penumbra from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $289.00 to $150.00 in a report on Wednesday, July 31st. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Penumbra has an average rating of “Moderate Buy” and an average price target of $226.67.

Penumbra Stock Performance

Shares of NYSE PEN opened at $233.38 on Friday. The stock has a market cap of $9.06 billion, a price-to-earnings ratio of 271.37, a P/E/G ratio of 2.42 and a beta of 0.54. The company has a current ratio of 6.25, a quick ratio of 3.77 and a debt-to-equity ratio of 0.02. Penumbra has a 1-year low of $148.00 and a 1-year high of $277.34. The stock’s 50-day moving average is $200.81 and its 200 day moving average is $193.96.

Hedge Funds Weigh In On Penumbra

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Penumbra by 0.9% in the first quarter. Vanguard Group Inc. now owns 3,690,660 shares of the company’s stock valued at $823,681,000 after purchasing an additional 32,557 shares during the last quarter. First Hawaiian Bank purchased a new position in Penumbra in the second quarter valued at approximately $1,597,000. Jennison Associates LLC boosted its holdings in shares of Penumbra by 192.1% in the first quarter. Jennison Associates LLC now owns 87,139 shares of the company’s stock valued at $19,448,000 after acquiring an additional 57,310 shares during the period. Tidal Investments LLC boosted its holdings in shares of Penumbra by 276.9% in the first quarter. Tidal Investments LLC now owns 4,971 shares of the company’s stock valued at $1,109,000 after acquiring an additional 3,652 shares during the period. Finally, Blair William & Co. IL boosted its holdings in shares of Penumbra by 24.3% in the first quarter. Blair William & Co. IL now owns 16,674 shares of the company’s stock valued at $3,721,000 after acquiring an additional 3,257 shares during the period. 88.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Johanna Roberts sold 600 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $175.98, for a total transaction of $105,588.00. Following the transaction, the executive vice president now owns 61,688 shares of the company’s stock, valued at approximately $10,855,854.24. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Penumbra news, Director Harpreet Grewal sold 166 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $190.83, for a total transaction of $31,677.78. Following the sale, the director now directly owns 8,697 shares in the company, valued at $1,659,648.51. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Johanna Roberts sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $175.98, for a total transaction of $105,588.00. Following the sale, the executive vice president now owns 61,688 shares in the company, valued at $10,855,854.24. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,368 shares of company stock valued at $6,893,118. 5.00% of the stock is currently owned by insiders.

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

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.