Equities analysts forecast that Penumbra Inc (NYSE:PEN) will post earnings per share of ($0.48) for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Penumbra’s earnings. The highest EPS estimate is ($0.43) and the lowest is ($0.57). Penumbra posted earnings of $0.27 per share in the same quarter last year, which would suggest a negative year over year growth rate of 277.8%. The business is expected to issue its next earnings results after the market closes on Monday, August 3rd.
According to Zacks, analysts expect that Penumbra will report full-year earnings of ($0.09) per share for the current financial year, with EPS estimates ranging from ($0.19) to ($0.03). For the next fiscal year, analysts forecast that the firm will post earnings of $1.16 per share, with EPS estimates ranging from $0.86 to $1.41. Zacks’ EPS averages are an average based on a survey of sell-side research firms that follow Penumbra.
Penumbra (NYSE:PEN) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.06). Penumbra had a return on equity of 5.72% and a net margin of 7.04%. The firm had revenue of $137.33 million during the quarter, compared to analyst estimates of $136.28 million. During the same quarter in the prior year, the company earned $0.23 EPS. The business’s revenue was up 6.9% on a year-over-year basis.
Several research analysts recently weighed in on PEN shares. Canaccord Genuity reaffirmed a “buy” rating and issued a $184.00 target price (down from $186.00) on shares of Penumbra in a research report on Tuesday, April 7th. Wells Fargo & Co lowered their target price on Penumbra from $195.00 to $180.00 and set an “overweight” rating for the company in a research note on Monday, March 30th. Citigroup raised their target price on Penumbra from $192.00 to $214.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Zacks Investment Research downgraded Penumbra from a “hold” rating to a “sell” rating in a research note on Friday, June 5th. Finally, JPMorgan Chase & Co. raised their target price on Penumbra from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $194.50.
Shares of Penumbra stock opened at $203.34 on Monday. Penumbra has a fifty-two week low of $121.80 and a fifty-two week high of $203.65. The firm has a market cap of $7.04 billion, a PE ratio of 186.55 and a beta of 0.64. The business’s fifty day moving average is $181.61 and its two-hundred day moving average is $173.33. The company has a quick ratio of 3.27, a current ratio of 5.15 and a debt-to-equity ratio of 0.15.
In other news, insider Arani Bose sold 10,000 shares of the stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $185.07, for a total transaction of $1,850,700.00. Following the transaction, the insider now owns 560,662 shares of the company’s stock, valued at $103,761,716.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Adam Elsesser sold 8,000 shares of the stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $187.67, for a total transaction of $1,501,360.00. The disclosure for this sale can be found here. Insiders have sold 44,151 shares of company stock worth $8,226,190 in the last ninety days. Corporate insiders own 8.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of PEN. Amundi Pioneer Asset Management Inc. lifted its holdings in Penumbra by 5.7% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 110,746 shares of the company’s stock worth $16,280,000 after acquiring an additional 5,935 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Penumbra by 13.7% during the fourth quarter. Victory Capital Management Inc. now owns 6,817 shares of the company’s stock valued at $1,120,000 after buying an additional 824 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Penumbra by 77.5% during the fourth quarter. Envestnet Asset Management Inc. now owns 4,656 shares of the company’s stock valued at $765,000 after buying an additional 2,033 shares during the last quarter. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Penumbra during the fourth quarter valued at approximately $227,000. Finally, Raymond James & Associates raised its holdings in shares of Penumbra by 2.5% during the fourth quarter. Raymond James & Associates now owns 2,982 shares of the company’s stock valued at $490,000 after buying an additional 73 shares during the last quarter. 83.70% of the stock is currently owned by hedge funds and other institutional investors.
Penumbra Company Profile
Penumbra, Inc designs, develops, manufactures, and markets medical devices in the United States, Europe, Canada, Australia, Japan, and internationally. The company offers neurovascular access systems designed to provide intracranial access for use in a range of neurovascular therapies under the Neuron, Neuron MAX, Select, BENCHMARK, DDC, and PX SLIM brands; aspiration based thrombectomy systems and accessory devices, including revascularization device for mechanical thrombectomy, such as Penumbra System under the ACE and the 3D Revascularization Device brands.
Featured Story: How Buying a Call Option Works
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Penumbra Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Penumbra and related companies with MarketBeat.com's FREE daily email newsletter.