Penumbra (NYSE:PEN) Posts Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Penumbra (NYSE:PEN) issued its quarterly earnings data on Wednesday. The company reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.06, FiscalAI reports. Penumbra had a return on equity of 11.35% and a net margin of 12.30%.The firm had revenue of $385.39 million during the quarter, compared to analysts’ expectations of $367.18 million.

Penumbra Stock Performance

Shares of NYSE:PEN traded down $0.15 on Wednesday, hitting $339.44. 236,053 shares of the company were exchanged, compared to its average volume of 1,271,800. The firm has a market capitalization of $13.29 billion, a P/E ratio of 81.21, a price-to-earnings-growth ratio of 2.09 and a beta of 0.82. The company has a current ratio of 6.73, a quick ratio of 4.18 and a debt-to-equity ratio of 0.02. Penumbra has a 1-year low of $221.26 and a 1-year high of $362.41. The stock’s 50 day moving average price is $333.93 and its 200 day moving average price is $290.42.

Insider Transactions at Penumbra

In related news, EVP Johanna Roberts sold 600 shares of the firm’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $294.94, for a total value of $176,964.00. Following the completion of the transaction, the executive vice president owned 64,136 shares in the company, valued at $18,916,271.84. This trade represents a 0.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Thomas Wilder sold 186 shares of the business’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $310.72, for a total value of $57,793.92. The disclosure for this sale is available in the SEC filing. Insiders sold 16,372 shares of company stock valued at $5,044,546 in the last quarter. Insiders own 5.00% of the company’s stock.

Institutional Investors Weigh In On Penumbra

A number of large investors have recently bought and sold shares of PEN. UMB Bank n.a. boosted its position in Penumbra by 11.3% during the fourth quarter. UMB Bank n.a. now owns 442 shares of the company’s stock worth $137,000 after purchasing an additional 45 shares in the last quarter. CIBC Private Wealth Group LLC raised its stake in shares of Penumbra by 2,700.0% during the 4th quarter. CIBC Private Wealth Group LLC now owns 84 shares of the company’s stock worth $26,000 after buying an additional 81 shares during the period. Orion Porfolio Solutions LLC lifted its position in shares of Penumbra by 7.3% during the 3rd quarter. Orion Porfolio Solutions LLC now owns 1,201 shares of the company’s stock valued at $304,000 after buying an additional 82 shares in the last quarter. Motiv8 Investments LLC purchased a new position in Penumbra during the fourth quarter valued at $27,000. Finally, Corient Private Wealth LLC grew its position in shares of Penumbra by 4.1% in the second quarter. Corient Private Wealth LLC now owns 2,335 shares of the company’s stock valued at $599,000 after purchasing an additional 92 shares during the period. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on PEN shares. Evercore reissued an “outperform” rating and set a $340.00 price target on shares of Penumbra in a research report on Monday, January 5th. BTIG Research cut shares of Penumbra from a “buy” rating to a “neutral” rating and set a $349.00 target price for the company. in a research report on Thursday, January 15th. Robert W. Baird reaffirmed a “neutral” rating and issued a $374.00 price target (up from $345.00) on shares of Penumbra in a report on Friday, January 16th. Bank of America upped their price target on Penumbra from $320.00 to $370.00 and gave the stock a “buy” rating in a research report on Monday, January 5th. Finally, Piper Sandler cut Penumbra from an “overweight” rating to a “hold” rating and set a $374.00 price objective for the company. in a research report on Thursday, January 15th. Four analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. According to data from MarketBeat, Penumbra has an average rating of “Hold” and an average price target of $358.00.

Penumbra Company Profile

Penumbra, Inc is a global healthcare company specializing in the development and manufacture of innovative medical devices that address neurovascular and peripheral vascular conditions. The company focuses on products designed to improve patient outcomes in acute ischemic stroke, aneurysm treatment and peripheral thrombectomy. Penumbra’s technologies are used by interventional neuroradiologists, neurosurgeons and interventional cardiologists in hospitals and clinics around the world.

At the core of Penumbra’s portfolio is its mechanical thrombectomy platform, which includes aspiration catheters and accessory devices engineered to remove blood clots in acute stroke cases.