Penumbra (NYSE:PEN) Issues Earnings Results, Beats Estimates By $0.07 EPS

Penumbra (NYSE:PEN) posted its quarterly earnings results on Wednesday. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.07, Zacks reports. The business had revenue of $354.69 million during the quarter, compared to the consensus estimate of $340.77 million. Penumbra had a return on equity of 11.55% and a net margin of 11.54%.The firm’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.85 EPS. Penumbra updated its FY 2025 guidance to EPS.

Penumbra Trading Up 0.6%

Shares of Penumbra stock traded up $1.46 during trading on Friday, hitting $266.07. The stock had a trading volume of 20,403 shares, compared to its average volume of 478,414. Penumbra has a 12 month low of $221.26 and a 12 month high of $310.00. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.75 and a quick ratio of 4.04. The firm’s fifty day simple moving average is $256.08 and its 200-day simple moving average is $258.65. The stock has a market cap of $10.38 billion, a PE ratio of 70.92, a PEG ratio of 2.10 and a beta of 0.51.

Analysts Set New Price Targets

Several equities analysts have recently commented on PEN shares. Wall Street Zen downgraded shares of Penumbra from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Canaccord Genuity Group lifted their price target on shares of Penumbra from $350.00 to $355.00 and gave the company a “buy” rating in a report on Thursday. UBS Group set a $335.00 price objective on shares of Penumbra and gave the company a “buy” rating in a report on Wednesday, July 30th. Royal Bank Of Canada reduced their target price on Penumbra from $330.00 to $325.00 and set an “outperform” rating on the stock in a report on Wednesday, July 30th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Penumbra in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $305.69.

Insider Activity at Penumbra

In related news, Director Thomas Wilder sold 372 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $240.16, for a total value of $89,339.52. Following the sale, the director directly owned 372 shares of the company’s stock, valued at $89,339.52. This represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Adam Elsesser sold 15,900 shares of the firm’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $254.53, for a total transaction of $4,047,027.00. Following the completion of the sale, the chief executive officer directly owned 170,280 shares of the company’s stock, valued at approximately $43,341,368.40. The trade was a 8.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 48,802 shares of company stock worth $12,588,928 in the last three months. 4.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Penumbra

A number of large investors have recently bought and sold shares of PEN. State of Wyoming purchased a new stake in Penumbra in the second quarter worth $64,000. EverSource Wealth Advisors LLC lifted its holdings in Penumbra by 209.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 272 shares of the company’s stock valued at $70,000 after buying an additional 184 shares in the last quarter. Lazard Asset Management LLC grew its stake in Penumbra by 28.3% in the 2nd quarter. Lazard Asset Management LLC now owns 902 shares of the company’s stock worth $231,000 after acquiring an additional 199 shares in the last quarter. Two Sigma Securities LLC raised its stake in shares of Penumbra by 36.2% during the second quarter. Two Sigma Securities LLC now owns 1,625 shares of the company’s stock valued at $417,000 after acquiring an additional 432 shares in the last quarter. Finally, Captrust Financial Advisors boosted its holdings in shares of Penumbra by 33.4% in the second quarter. Captrust Financial Advisors now owns 1,986 shares of the company’s stock valued at $510,000 after purchasing an additional 497 shares during the period. Hedge funds and other institutional investors own 88.88% 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.