Penumbra (PEN) to Release Earnings on Wednesday

Penumbra (NYSE:PEN) will post its quarterly earnings results after the market closes on Wednesday, October 30th. Analysts expect Penumbra to post earnings of $0.69 per share for the quarter. Penumbra has set its FY 2024 guidance at EPS.Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Penumbra (NYSE:PEN) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.08. Penumbra had a net margin of 1.26% and a return on equity of 8.39%. The company had revenue of $299.40 million for the quarter, compared to the consensus estimate of $298.24 million. During the same period last year, the firm posted $0.43 EPS. Penumbra’s revenue for the quarter was up 14.5% on a year-over-year basis. On average, analysts expect Penumbra to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Penumbra Price Performance

Shares of NYSE:PEN opened at $204.71 on Monday. Penumbra has a one year low of $148.00 and a one year high of $277.34. The stock has a market capitalization of $7.95 billion, a price-to-earnings ratio of 602.09, a PEG ratio of 2.35 and a beta of 0.54. The company has a 50-day simple moving average of $198.70 and a 200-day simple moving average of $193.77. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.77 and a current ratio of 6.25.

Penumbra announced that its Board of Directors has authorized a stock buyback program on Tuesday, August 13th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the company to repurchase up to 2.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Penumbra

In other Penumbra news, CEO Adam Elsesser sold 1,620 shares of Penumbra stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $200.00, for a total value of $324,000.00. Following the transaction, the chief executive officer now owns 925,962 shares in the company, valued at $185,192,400. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Adam Elsesser sold 1,620 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $200.00, for a total transaction of $324,000.00. Following the completion of the sale, the chief executive officer now owns 925,962 shares in the company, valued at approximately $185,192,400. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Harpreet Grewal sold 166 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $190.83, for a total transaction of $31,677.78. Following the completion of the transaction, the director now owns 8,697 shares in the company, valued at $1,659,648.51. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,368 shares of company stock worth $6,893,118 in the last three months. Company insiders own 5.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PEN. Canaccord Genuity Group lifted their target price on shares of Penumbra from $176.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Royal Bank of Canada increased their target price on Penumbra from $205.00 to $222.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Morgan Stanley cut their price target on Penumbra from $235.00 to $210.00 and set an “equal weight” rating for the company in a report on Monday, July 15th. Stifel Nicolaus started coverage on Penumbra in a research note on Tuesday, September 17th. They set a “buy” rating and a $238.00 price objective on the stock. Finally, Robert W. Baird cut their target price on shares of Penumbra from $231.00 to $180.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Penumbra has an average rating of “Moderate Buy” and an average price target of $220.17.

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.