Penumbra (NYSE:PEN) Announces Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Penumbra (NYSE:PEN) announced its earnings results 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 firm had revenue of $278.70 million for the quarter, compared to analyst estimates of $274.94 million. Penumbra had a return on equity of 7.49% and a net margin of 8.59%. The company’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.23 EPS.

Penumbra Trading Down 3.7 %

Shares of PEN stock traded down $7.84 on Wednesday, hitting $202.16. 553,945 shares of the stock traded hands, compared to its average volume of 348,795. The firm’s 50-day moving average price is $221.64 and its two-hundred day moving average price is $232.02. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.49 and a current ratio of 6.06. The stock has a market capitalization of $7.84 billion, a PE ratio of 87.36, a PEG ratio of 2.06 and a beta of 0.57. Penumbra has a twelve month low of $180.93 and a twelve month high of $348.67.

Insider Activity at Penumbra

In related news, Director Arani Bose sold 7,500 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $250.20, for a total transaction of $1,876,500.00. Following the sale, the director now owns 164,294 shares of the company’s stock, valued at $41,106,358.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Don W. Kassing sold 778 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $234.72, for a total value of $182,612.16. Following the transaction, the director now owns 1,345 shares in the company, valued at $315,698.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Arani Bose sold 7,500 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $250.20, for a total value of $1,876,500.00. Following the completion of the sale, the director now directly owns 164,294 shares of the company’s stock, valued at $41,106,358.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,648 shares of company stock worth $2,369,903. 5.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on PEN shares. Truist Financial lowered their target price on Penumbra from $290.00 to $280.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. TheStreet raised shares of Penumbra from a “d+” rating to a “c-” rating in a research report on Friday, January 12th. Piper Sandler lowered their price target on shares of Penumbra from $290.00 to $260.00 and set an “overweight” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. cut Penumbra from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $284.00 to $250.00 in a research report on Friday, February 23rd. Finally, Royal Bank of Canada restated an “outperform” rating and set a $289.00 target price on shares of Penumbra in a research note on Friday, February 23rd. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $300.64.

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.