Penumbra, Inc. (NYSE:PEN) Expected to Post Quarterly Sales of $194.20 Million

Equities research analysts forecast that Penumbra, Inc. (NYSE:PEN) will report sales of $194.20 million for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Penumbra’s earnings, with the highest sales estimate coming in at $194.21 million and the lowest estimate coming in at $194.20 million. Penumbra reported sales of $166.90 million during the same quarter last year, which would suggest a positive year over year growth rate of 16.4%. The business is scheduled to report its next quarterly earnings results on Tuesday, February 22nd.

According to Zacks, analysts expect that Penumbra will report full year sales of $737.79 million for the current financial year, with estimates ranging from $737.78 million to $737.80 million. For the next year, analysts forecast that the firm will report sales of $862.13 million, with estimates ranging from $853.26 million to $867.20 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Penumbra.

Penumbra (NYSE:PEN) last posted its quarterly earnings data on Wednesday, November 3rd. The company reported $0.12 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.02). Penumbra had a return on equity of 5.77% and a net margin of 4.72%. During the same period last year, the firm earned $0.06 earnings per share.

PEN has been the topic of several research analyst reports. BTIG Research lifted their price objective on Penumbra from $299.00 to $308.00 and gave the stock a “buy” rating in a report on Tuesday, August 10th. Truist initiated coverage on Penumbra in a report on Wednesday, September 15th. They issued a “buy” rating and a $350.00 price objective on the stock. Citigroup lifted their price objective on Penumbra from $335.00 to $340.00 and gave the stock a “buy” rating in a report on Tuesday, August 10th. Zacks Investment Research upgraded Penumbra from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, Truist Securities began coverage on Penumbra in a report on Thursday, September 16th. They issued a “buy” rating and a $350.00 price objective on the stock. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Penumbra has an average rating of “Buy” and an average target price of $331.00.

PEN stock traded up $3.37 during trading on Monday, hitting $259.98. The stock had a trading volume of 92,055 shares, compared to its average volume of 270,011. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.76 and a quick ratio of 3.53. Penumbra has a twelve month low of $163.49 and a twelve month high of $320.00. The stock has a market capitalization of $9.71 billion, a P/E ratio of 285.69, a PEG ratio of 15.14 and a beta of 0.26. The company’s 50-day moving average price is $270.30 and its two-hundred day moving average price is $267.48.

In other Penumbra news, Director Harpreet Grewal sold 634 shares of the business’s stock in a transaction that occurred on Friday, October 1st. The stock was sold at an average price of $267.06, for a total value of $169,316.04. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Adam Elsesser sold 14,500 shares of the company’s stock in a transaction on Monday, October 11th. The stock was sold at an average price of $254.60, for a total value of $3,691,700.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 63,403 shares of company stock worth $16,942,659. Insiders own 7.50% of the company’s stock.

Large investors have recently made changes to their positions in the company. Moors & Cabot Inc. purchased a new position in Penumbra during the third quarter worth about $27,000. Fifth Third Bancorp increased its holdings in Penumbra by 48.3% in the third quarter. Fifth Third Bancorp now owns 129 shares of the company’s stock valued at $34,000 after buying an additional 42 shares in the last quarter. CI Investments Inc. purchased a new position in Penumbra in the third quarter valued at about $40,000. Harvest Fund Management Co. Ltd grew its position in shares of Penumbra by 178.3% in the second quarter. Harvest Fund Management Co. Ltd now owns 167 shares of the company’s stock valued at $46,000 after purchasing an additional 107 shares during the last quarter. Finally, Cutler Group LP grew its position in shares of Penumbra by 108.0% in the second quarter. Cutler Group LP now owns 251 shares of the company’s stock valued at $68,000 after purchasing an additional 3,400 shares during the last quarter. 80.58% of the stock is owned by institutional investors and hedge funds.

Penumbra Company Profile

Penumbra, Inc engages in the design, development, manufacture, and marketing of innovative medical devices. It offers thrombectomy, embolization, access, neurosurgical tools, ruby coil system, lantern, penumbra occlusion device (POD) system, packing coil, and indigo systems products. Its target markets include interventional neuroradiologists, neurosurgeons, and interventional neurologists; and interventional radiologists, vascular surgeons, and interventional cardiologists.

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Earnings History and Estimates for Penumbra (NYSE:PEN)

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