Penumbra (NYSE:PEN) Posts Earnings Results, Misses Expectations By $0.01 EPS

Penumbra (NYSE:PEN) released its quarterly earnings results on Tuesday. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.01), Briefing.com reports. The firm had revenue of $278.70 million for the quarter, compared to the consensus estimate of $274.94 million. Penumbra had a return on equity of 7.49% and a net margin of 8.59%. The business’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.23 earnings per share.

Penumbra Stock Down 3.3 %

Shares of NYSE:PEN opened at $203.07 on Thursday. The firm has a market cap of $7.87 billion, a P/E ratio of 87.91, a PEG ratio of 2.06 and a beta of 0.57. Penumbra has a 52-week low of $180.93 and a 52-week high of $348.67. The business’s 50 day simple moving average is $221.08 and its two-hundred day simple moving average is $231.82. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.49 and a current ratio of 6.06.

Insider Transactions at Penumbra

In related news, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction on Monday, April 1st. The shares were sold at an average price of $217.07, for a total value of $130,242.00. Following the completion of the sale, the executive vice president now owns 64,281 shares of the company’s stock, valued at approximately $13,953,476.67. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related 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 transaction of $130,242.00. Following the completion of the sale, the executive vice president now owns 64,281 shares in the company, valued at $13,953,476.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Arani Bose sold 7,500 shares of the firm’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 transaction, 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 9,648 shares of company stock valued at $2,369,903 over the last ninety days. 5.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PEN. JPMorgan Chase & Co. cut shares of Penumbra from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $284.00 to $250.00 in a research report on Friday, February 23rd. TheStreet raised Penumbra from a “d+” rating to a “c-” rating in a report on Friday, January 12th. Truist Financial decreased their price target on Penumbra from $290.00 to $280.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. Piper Sandler lowered their price target on shares of Penumbra from $290.00 to $260.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $289.00 price objective on shares of Penumbra in a research note on Friday, February 23rd. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $300.64.

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.