FY2024 EPS Estimates for Penumbra Lifted by Leerink Partnrs

Penumbra, Inc. (NYSE:PEN) – Analysts at Leerink Partnrs raised their FY2024 EPS estimates for Penumbra in a research note issued on Wednesday, October 30th. Leerink Partnrs analyst M. Kratky now expects that the company will post earnings per share of $2.64 for the year, up from their prior estimate of $2.49. Leerink Partnrs has a “Strong-Buy” rating on the stock. The consensus estimate for Penumbra’s current full-year earnings is $2.58 per share. Leerink Partnrs also issued estimates for Penumbra’s Q3 2025 earnings at $1.17 EPS, Q4 2025 earnings at $1.21 EPS and FY2025 earnings at $4.00 EPS.

PEN has been the topic of a number of other research reports. Truist Financial upped their price target on Penumbra from $200.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Robert W. Baird lifted their price objective on Penumbra from $244.00 to $248.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Royal Bank of Canada upped their target price on Penumbra from $205.00 to $222.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Citigroup lifted their target price on shares of Penumbra from $178.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, August 22nd. Finally, Morgan Stanley dropped their price target on Penumbra from $235.00 to $210.00 and set an “equal weight” rating for the company in a research note on Monday, July 15th. Five investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $226.67.

Penumbra Stock Down 1.6 %

PEN opened at $229.51 on Monday. The company’s 50-day moving average price is $201.36 and its two-hundred day moving average price is $193.93. Penumbra has a twelve month low of $148.00 and a twelve month high of $277.34. The stock has a market cap of $8.81 billion, a price-to-earnings ratio of 266.87, a PEG ratio of 2.62 and a beta of 0.51. The company has a quick ratio of 3.77, a current ratio of 5.82 and a debt-to-equity ratio of 0.02.

Penumbra (NYSE:PEN) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.69 by $0.16. Penumbra had a return on equity of 8.99% and a net margin of 2.97%. The firm had revenue of $301.04 million during the quarter, compared to the consensus estimate of $297.36 million. During the same period in the prior year, the business posted $0.67 earnings per share. The company’s quarterly revenue was up 11.1% compared to the same quarter last year.

Penumbra announced that its board has approved a share repurchase program on Tuesday, August 13th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the company to buy up to 2.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In related news, CEO Adam Elsesser sold 1,620 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $200.00, for a total transaction of $324,000.00. Following the transaction, the chief executive officer now owns 925,962 shares in the company, valued at $185,192,400. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $175.98, for a total transaction of $105,588.00. Following the sale, the executive vice president now directly owns 61,688 shares in the company, valued at $10,855,854.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Adam Elsesser sold 1,620 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $200.00, for a total value of $324,000.00. Following the completion of the transaction, the chief executive officer now owns 925,962 shares of the company’s stock, valued at approximately $185,192,400. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,368 shares of company stock worth $6,893,118. 5.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Penumbra

Hedge funds have recently bought and sold shares of the business. Silvercrest Asset Management Group LLC boosted its position in shares of Penumbra by 3.4% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 1,680 shares of the company’s stock worth $375,000 after purchasing an additional 55 shares in the last quarter. ProShare Advisors LLC raised its position in Penumbra by 2.9% in the 2nd quarter. ProShare Advisors LLC now owns 2,171 shares of the company’s stock worth $391,000 after buying an additional 62 shares during the last quarter. Legacy Wealth Asset Management LLC lifted its stake in Penumbra by 3.9% during the 3rd quarter. Legacy Wealth Asset Management LLC now owns 1,731 shares of the company’s stock valued at $336,000 after acquiring an additional 65 shares during the period. Creative Planning grew its stake in shares of Penumbra by 4.7% in the third quarter. Creative Planning now owns 1,574 shares of the company’s stock worth $306,000 after acquiring an additional 71 shares during the period. Finally, Arcadia Investment Management Corp MI lifted its position in Penumbra by 7.9% during the second quarter. Arcadia Investment Management Corp MI now owns 1,006 shares of the company’s stock valued at $181,000 after purchasing an additional 74 shares during the period. Institutional investors own 88.88% of the company’s stock.

About Penumbra

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.