Penumbra (NYSE:PEN) Issues Earnings Results

Penumbra (NYSE:PEN) released its quarterly earnings results on Tuesday. The company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01), Briefing.com reports. The business had revenue of $278.70 million during 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 business’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.23 EPS.

Penumbra Trading Down 0.6 %

NYSE:PEN opened at $208.16 on Friday. Penumbra has a 1 year low of $180.93 and a 1 year high of $348.67. The stock has a market cap of $8.07 billion, a P/E ratio of 90.65, a P/E/G ratio of 2.06 and a beta of 0.57. 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 50-day simple moving average of $220.57 and a 200-day simple moving average of $231.66.

Insider Buying and Selling

In other Penumbra news, Director Don W. Kassing sold 170 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $223.18, for a total value of $37,940.60. Following the transaction, the director now directly owns 1,175 shares in the company, valued at $262,236.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Don W. Kassing sold 170 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $223.18, for a total transaction of $37,940.60. Following the transaction, the director now owns 1,175 shares in the company, valued at approximately $262,236.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Don W. Kassing sold 778 shares of Penumbra stock in a transaction on Friday, March 1st. The shares were sold at an average price of $234.72, for a total transaction of $182,612.16. Following the completion of the transaction, the director now directly owns 1,345 shares in the company, valued at $315,698.40. The disclosure for this sale can be found here. Insiders sold a total of 9,648 shares of company stock worth $2,369,903 over the last 90 days. 5.00% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PEN. TheStreet upgraded shares of Penumbra from a “d+” rating to a “c-” rating in a research report on Friday, January 12th. Canaccord Genuity Group lowered their price target on Penumbra from $284.00 to $272.00 and set a “buy” rating on the stock in a research note on Wednesday. Piper Sandler reduced their price objective on Penumbra from $290.00 to $260.00 and set an “overweight” rating for the company in a research note on Wednesday. Truist Financial decreased their price objective on Penumbra from $290.00 to $280.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $289.00 target price on shares of Penumbra in a research report on Friday, February 23rd. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.