Penumbra (NYSE:PEN) Releases Quarterly Earnings Results

Penumbra (NYSE:PEN) issued its quarterly earnings data on Tuesday. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.01), Briefing.com reports. The company had revenue of $278.70 million during the quarter, compared to analysts’ expectations of $274.94 million. Penumbra had a net margin of 8.59% and a return on equity of 7.49%. The firm’s revenue was up 15.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.23 earnings per share.

Penumbra Stock Down 3.7 %

NYSE PEN traded down $7.80 during mid-day trading on Wednesday, hitting $202.20. The company’s stock had a trading volume of 592,387 shares, compared to its average volume of 349,225. Penumbra has a twelve month low of $180.93 and a twelve month high of $348.67. The firm has a market capitalization of $7.84 billion, a price-to-earnings ratio of 87.36, a PEG ratio of 2.06 and a beta of 0.57. The company has a current ratio of 6.06, a quick ratio of 3.49 and a debt-to-equity ratio of 0.02. The company’s 50 day simple moving average is $221.64 and its 200 day simple moving average is $232.02.

Insider Activity at Penumbra

In other Penumbra news, EVP Johanna Roberts sold 600 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $217.07, for a total value of $130,242.00. Following the completion of the transaction, the executive vice president now owns 64,281 shares in the company, valued at approximately $13,953,476.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Johanna Roberts sold 600 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $217.07, for a total transaction of $130,242.00. Following the sale, the executive vice president now directly owns 64,281 shares in the company, valued at approximately $13,953,476.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Arani Bose sold 7,500 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $250.20, for a total value of $1,876,500.00. Following the sale, the director now owns 164,294 shares in the company, valued at $41,106,358.80. The disclosure for this sale can be found here. Insiders have sold a total of 9,648 shares of company stock valued at $2,369,903 over the last 90 days. Insiders own 5.00% of the company’s stock.

Wall Street Analyst Weigh In

PEN has been the topic of several recent research reports. TheStreet upgraded shares of Penumbra from a “d+” rating to a “c-” rating in a report on Friday, January 12th. Royal Bank of Canada restated an “outperform” rating and issued a $289.00 target price on shares of Penumbra in a research report on Friday, February 23rd. Canaccord Genuity Group reduced their price target on shares of Penumbra from $284.00 to $272.00 and set a “buy” rating for the company in a research report on Wednesday. JPMorgan Chase & Co. downgraded shares of Penumbra from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $284.00 to $250.00 in a research report on Friday, February 23rd. Finally, Needham & Company LLC restated a “hold” rating on shares of Penumbra in a report on Wednesday. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $300.64.

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.