Equities Analysts Set Expectations for Penumbra Q4 Earnings

Penumbra, Inc. (NYSE:PEN) – Leerink Partnrs lifted their Q4 2024 earnings per share (EPS) estimates for Penumbra in a research report issued on Monday, November 25th. Leerink Partnrs analyst M. Kratky now expects that the company will post earnings per share of $0.88 for the quarter, up from their prior forecast of $0.74. Leerink Partnrs currently has a “Strong-Buy” rating on the stock. The consensus estimate for Penumbra’s current full-year earnings is $2.81 per share. Leerink Partnrs also issued estimates for Penumbra’s Q1 2025 earnings at $0.83 EPS, Q2 2025 earnings at $0.99 EPS, Q3 2025 earnings at $1.09 EPS and Q4 2025 earnings at $1.19 EPS.

Penumbra (NYSE:PEN) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.85 earnings per share (EPS) for the quarter, beating 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 business had revenue of $301.04 million during the quarter, compared to the consensus estimate of $297.36 million. During the same quarter last year, the firm posted $0.67 EPS. The company’s quarterly revenue was up 11.1% on a year-over-year basis.

A number of other brokerages have also commented on PEN. Stifel Nicolaus assumed coverage on shares of Penumbra in a research note on Tuesday, September 17th. They issued a “buy” rating and a $238.00 price target on the stock. BTIG Research upped their target price on Penumbra from $232.00 to $270.00 and gave the company a “buy” rating in a research report on Tuesday. Royal Bank of Canada lifted their price target on Penumbra from $205.00 to $222.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Piper Sandler boosted their price target on Penumbra from $235.00 to $250.00 and gave the company an “overweight” rating in a research note on Wednesday, November 20th. Finally, Robert W. Baird increased their price objective on Penumbra from $244.00 to $248.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Five research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Penumbra currently has a consensus rating of “Moderate Buy” and an average target price of $230.92.

Penumbra Price Performance

Shares of PEN opened at $244.15 on Wednesday. The company’s 50-day moving average is $215.77 and its 200-day moving average is $198.27. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.82 and a quick ratio of 3.25. The firm has a market capitalization of $9.37 billion, a PE ratio of 283.90, a PEG ratio of 2.47 and a beta of 0.51. Penumbra has a fifty-two week low of $148.00 and a fifty-two week high of $277.34.

Penumbra declared that its board has approved a stock repurchase plan on Tuesday, August 13th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the company to repurchase up to 2.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In related news, EVP Johanna Roberts sold 600 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $206.22, for a total transaction of $123,732.00. Following the sale, the executive vice president now owns 61,088 shares in the company, valued at approximately $12,597,567.36. This trade represents a 0.97 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Adam Elsesser sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $237.28, for a total transaction of $3,559,200.00. Following the transaction, the chief executive officer now owns 852,582 shares of the company’s stock, valued at approximately $202,300,656.96. This represents a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,748 shares of company stock worth $10,166,574. Company insiders own 5.00% of the company’s stock.

Institutional Trading of Penumbra

Institutional investors and hedge funds have recently modified their holdings of the business. Advisors Asset Management Inc. boosted its position in Penumbra by 11.5% in the third quarter. Advisors Asset Management Inc. now owns 416 shares of the company’s stock valued at $81,000 after buying an additional 43 shares in the last quarter. Silvercrest Asset Management Group LLC lifted its stake 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 valued at $375,000 after acquiring an additional 55 shares during the last quarter. ProShare Advisors LLC boosted its holdings in shares of Penumbra by 2.9% during the 2nd quarter. ProShare Advisors LLC now owns 2,171 shares of the company’s stock valued at $391,000 after acquiring an additional 62 shares in the last quarter. Legacy Wealth Asset Management LLC grew its position in Penumbra by 3.9% during the 3rd quarter. Legacy Wealth Asset Management LLC now owns 1,731 shares of the company’s stock worth $336,000 after acquiring an additional 65 shares during the last quarter. Finally, Creative Planning grew its position in Penumbra by 4.7% during the 3rd quarter. Creative Planning now owns 1,574 shares of the company’s stock worth $306,000 after acquiring an additional 71 shares during the last quarter. 88.88% of the stock is currently owned by institutional investors.

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.