Equities research analysts forecast that Penumbra Inc (NYSE:PEN) will post sales of $92.57 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Penumbra’s earnings. The highest sales estimate is $92.64 million and the lowest is $92.50 million. Penumbra posted sales of $73.21 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 26.4%. The business is expected to announce its next quarterly earnings report on Tuesday, May 8th.
According to Zacks, analysts expect that Penumbra will report full-year sales of $92.57 million for the current financial year, with estimates ranging from $402.00 million to $406.14 million. For the next year, analysts forecast that the company will post sales of $477.56 million per share, with estimates ranging from $475.90 million to $479.89 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Penumbra.
Several research firms recently commented on PEN. BMO Capital Markets boosted their target price on Penumbra from $110.00 to $115.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 28th. Wells Fargo & Co boosted their target price on Penumbra from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 28th. Canaccord Genuity restated a “buy” rating and set a $125.00 target price (up from $113.00) on shares of Penumbra in a research report on Wednesday, February 28th. William Blair began coverage on Penumbra in a research report on Wednesday, February 21st. They set an “outperform” rating for the company. Finally, Zacks Investment Research upgraded Penumbra from a “sell” rating to a “hold” rating in a research report on Wednesday, January 17th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $121.67.
A number of hedge funds have recently modified their holdings of PEN. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Penumbra by 45.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,691 shares of the company’s stock worth $159,000 after purchasing an additional 532 shares during the last quarter. Simplex Trading LLC lifted its stake in Penumbra by 116.2% during the fourth quarter. Simplex Trading LLC now owns 1,911 shares of the company’s stock worth $179,000 after purchasing an additional 1,027 shares during the last quarter. Public Employees Retirement Association of Colorado bought a new stake in Penumbra during the fourth quarter worth about $189,000. Teacher Retirement System of Texas bought a new stake in Penumbra during the third quarter worth about $214,000. Finally, Aperio Group LLC bought a new stake in Penumbra during the fourth quarter worth about $236,000. 73.41% of the stock is owned by hedge funds and other institutional investors.
Shares of Penumbra (PEN) traded up $1.35 during midday trading on Friday, hitting $120.00. The stock had a trading volume of 240,579 shares, compared to its average volume of 284,492. The stock has a market capitalization of $4,049.64, a PE ratio of 1,078.73, a PEG ratio of 43.15 and a beta of 0.06. Penumbra has a one year low of $76.15 and a one year high of $120.00.
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Penumbra Company Profile
Penumbra, Inc is a healthcare company focused on interventional therapies. The Company designs, develops, manufactures and markets medical devices. It has a portfolio of products that addresses medical conditions and clinical needs across two markets, neuro and peripheral vascular. The conditions that its products address include ischemic stroke, hemorrhagic stroke and various peripheral vascular conditions that can be treated through thrombectomy and embolization procedures.
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