Penumbra (NYSE:PEN) Issues Quarterly Earnings Results

Penumbra (NYSE:PEN) issued its quarterly earnings results on Thursday. The company reported $1.07 earnings per share for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.13), FiscalAI reports. Penumbra had a return on equity of 10.57% and a net margin of 10.06%. The business had revenue of $410.15 million for the quarter, compared to analysts’ expectations of $401.41 million. During the same quarter in the previous year, the firm posted $0.97 EPS. Penumbra’s revenue was up 15.6% on a year-over-year basis.

Penumbra Stock Down 1.0%

Shares of PEN traded down $3.29 during mid-day trading on Friday, hitting $318.68. 497,717 shares of the company’s stock were exchanged, compared to its average volume of 391,283. The company has a market cap of $12.55 billion, a price-to-earnings ratio of 80.27, a P/E/G ratio of 2.21 and a beta of 0.70. Penumbra has a fifty-two week low of $221.26 and a fifty-two week high of $362.41. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.86 and a current ratio of 5.75. The stock’s 50-day moving average is $320.57 and its 200-day moving average is $327.37.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Evercore reiterated an “outperform” rating and issued a $320.00 target price on shares of Penumbra in a research note on Monday, July 6th. Zacks Research raised shares of Penumbra from a “strong sell” rating to a “hold” rating in a research note on Monday, August 24th. Finally, Weiss Ratings raised shares of Penumbra from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday. Three analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $367.07.

Penumbra Company Profile

Penumbra, Inc is a medical device company that develops, manufactures and markets products used to treat patients with vascular conditions. Its technologies are primarily designed for minimally invasive procedures in the neurovascular and peripheral vascular markets, including the treatment of ischemic stroke, brain aneurysms and other vascular disorders.

The company’s product portfolio includes aspiration and mechanical thrombectomy systems for removing blood clots, embolization devices for blocking abnormal blood flow, and access and delivery products used during endovascular procedures.