Wall Street analysts expect that Penumbra, Inc. (NYSE:PEN) will report sales of $79.13 million for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Penumbra’s earnings, with estimates ranging from $78.70 million to $79.55 million. Penumbra posted sales of $67.19 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 17.8%. The business is scheduled to announce its next quarterly earnings results on Thursday, November 2nd.
According to Zacks, analysts expect that Penumbra will report full-year sales of $79.13 million for the current fiscal year, with estimates ranging from $318.20 million to $320.93 million. For the next fiscal year, analysts expect that the company will report sales of $382.45 million per share, with estimates ranging from $378.30 million to $386.59 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Penumbra.
Penumbra (NYSE:PEN) last posted its earnings results on Tuesday, August 8th. The company reported ($0.05) EPS for the quarter, hitting the consensus estimate of ($0.05). Penumbra had a negative net margin of 2.78% and a negative return on equity of 2.58%. The firm had revenue of $80.60 million during the quarter, compared to analysts’ expectations of $77.16 million. During the same quarter in the prior year, the firm earned $0.01 EPS. Penumbra’s quarterly revenue was up 23.8% on a year-over-year basis.
A number of equities analysts have recently commented on the stock. BMO Capital Markets reaffirmed a “buy” rating and set a $96.00 price objective on shares of Penumbra in a report on Friday, October 13th. Zacks Investment Research raised shares of Penumbra from a “sell” rating to a “hold” rating in a report on Wednesday, October 11th. BidaskClub raised shares of Penumbra from a “hold” rating to a “buy” rating in a report on Thursday, June 22nd. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $100.00 price objective (up from $94.00) on shares of Penumbra in a report on Wednesday, August 9th.
Penumbra (NYSE PEN) opened at 94.95 on Thursday. The firm has a 50-day moving average of $89.86 and a 200 day moving average of $86.21. The company has a market cap of $3.21 billion, a PE ratio of 641.55 and a beta of 0.09. Penumbra has a 52-week low of $56.05 and a 52-week high of $95.60.
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In related news, insider Daniel Donen Davis sold 32,000 shares of Penumbra stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $79.42, for a total transaction of $2,541,440.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Robert D. Evans sold 10,000 shares of Penumbra stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $85.15, for a total transaction of $851,500.00. Following the transaction, the executive vice president now directly owns 11,704 shares of the company’s stock, valued at $996,595.60. The disclosure for this sale can be found here. Insiders have sold a total of 78,898 shares of company stock valued at $6,682,805 over the last three months. 13.50% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Penumbra by 10.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,159 shares of the company’s stock valued at $102,000 after purchasing an additional 114 shares during the last quarter. Verition Fund Management LLC bought a new position in Penumbra during the 2nd quarter valued at about $213,000. Ameritas Investment Partners Inc. lifted its holdings in Penumbra by 10.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,573 shares of the company’s stock valued at $226,000 after purchasing an additional 250 shares during the last quarter. FNY Partners Fund LP bought a new position in Penumbra during the 1st quarter valued at about $223,000. Finally, Prudential Financial Inc. bought a new position in Penumbra during the 2nd quarter valued at about $252,000. 70.93% of the stock is owned by hedge funds and other institutional investors.
Penumbra, Inc is a healthcare company focused on interventional therapies. The Company designs, develops, manufactures and markets medical devices. It has a portfolio of products that addresses medical conditions and clinical needs across two markets, neuro and peripheral vascular. The conditions that its products address include ischemic stroke, hemorrhagic stroke and various peripheral vascular conditions that can be treated through thrombectomy and embolization procedures.
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