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

Penumbra (NYSE:PEN) issued 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. Penumbra had a net margin of 8.59% and a return on equity of 7.49%. The business had revenue of $278.70 million during the quarter, compared to analyst estimates of $274.94 million. During the same quarter last year, the firm posted $0.23 earnings per share. The company’s revenue was up 15.5% on a year-over-year basis.

Penumbra Price Performance

Shares of PEN traded down $7.80 during trading hours on Wednesday, hitting $202.20. 592,387 shares of the company were exchanged, compared to its average volume of 349,225. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.06 and a quick ratio of 3.49. Penumbra has a one year low of $180.93 and a one year high of $348.67. The company has a market capitalization of $7.84 billion, a PE ratio of 87.36, a PEG ratio of 2.06 and a beta of 0.57. The firm has a fifty day simple moving average of $221.64 and a 200-day simple moving average of $232.02.

Analysts Set New Price Targets

Several research analysts recently weighed in on PEN shares. Truist Financial cut their target price on Penumbra from $290.00 to $280.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. Canaccord Genuity Group reduced their target price on shares of Penumbra from $284.00 to $272.00 and set a “buy” rating on the stock in a research report on Wednesday. Royal Bank of Canada reissued an “outperform” rating and set a $289.00 price target on shares of Penumbra in a research report on Friday, February 23rd. Piper Sandler dropped their price objective on shares of Penumbra from $290.00 to $260.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, TheStreet upgraded Penumbra from a “d+” rating to a “c-” rating in a research note on Friday, January 12th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $300.64.

Insiders Place Their Bets

In other news, Director Arani Bose sold 7,500 shares of Penumbra stock in a transaction on Monday, March 4th. The stock was sold at an average price of $250.20, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Penumbra news, EVP Johanna Roberts sold 600 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $237.68, for a total value of $142,608.00. Following the transaction, the executive vice president now directly owns 62,997 shares of the company’s stock, valued at approximately $14,973,126.96. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Arani Bose sold 7,500 shares of Penumbra stock in a transaction dated 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 of the company’s stock, valued at $41,106,358.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,648 shares of company stock worth $2,369,903. Company insiders own 5.00% of the company’s stock.

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.