Analysts forecast that Penumbra, Inc. (NYSE:PEN) will announce sales of $77.99 million for the current quarter, Zacks reports. Two analysts have provided estimates for Penumbra’s earnings. The highest sales estimate is $79.98 million and the lowest is $76.00 million. Penumbra reported sales of $65.11 million during the same quarter last year, which would suggest a positive year over year growth rate of 19.8%. The firm is expected to report its next earnings results on Tuesday, August 8th.
On average, analysts expect that Penumbra will report full year sales of $77.99 million for the current fiscal year, with estimates ranging from $317.10 million to $320.90 million. For the next fiscal year, analysts anticipate that the firm will report sales of $381.96 million per share, with estimates ranging from $377.30 million to $386.61 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Penumbra.
Penumbra (NYSE:PEN) last issued its quarterly earnings results on Tuesday, May 9th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by $0.04. The business had revenue of $73.21 million for the quarter, compared to analyst estimates of $71.08 million. Penumbra had a negative return on equity of 2.25% and a negative net margin of 2.31%. Penumbra’s revenue for the quarter was up 26.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.07 EPS.
Several research firms recently commented on PEN. BidaskClub raised shares of Penumbra from a “hold” rating to a “buy” rating in a report on Thursday. BMO Capital Markets reaffirmed a “buy” rating and set a $96.00 target price on shares of Penumbra in a report on Friday, June 16th. Canaccord Genuity reaffirmed a “buy” rating and set a $94.00 target price on shares of Penumbra in a report on Tuesday, June 13th. Finally, Zacks Investment Research lowered shares of Penumbra from a “hold” rating to a “sell” rating in a report on Thursday, May 11th.
In other Penumbra news, EVP Robert D. Evans sold 10,000 shares of the stock in a transaction on Monday, April 24th. The shares were sold at an average price of $85.24, for a total transaction of $852,400.00. Following the completion of the sale, the executive vice president now owns 12,075 shares of the company’s stock, valued at approximately $1,029,273. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 22.00% of the stock is currently owned by company insiders.
A number of large investors have recently made changes to their positions in the stock. State Board of Administration of Florida Retirement System boosted its stake in shares of Penumbra by 0.9% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 13,245 shares of the company’s stock valued at $845,000 after buying an additional 120 shares during the last quarter. State Street Corp boosted its stake in shares of Penumbra by 9.4% in the fourth quarter. State Street Corp now owns 472,199 shares of the company’s stock valued at $30,130,000 after buying an additional 40,596 shares during the last quarter. Pioneer Investment Management Inc. boosted its stake in shares of Penumbra by 27.9% in the first quarter. Pioneer Investment Management Inc. now owns 86,502 shares of the company’s stock valued at $7,219,000 after buying an additional 18,873 shares during the last quarter. Eagle Asset Management Inc. purchased a new stake in shares of Penumbra during the first quarter valued at $15,865,000. Finally, Russell Investments Group Ltd. purchased a new stake in shares of Penumbra during the fourth quarter valued at $3,484,000. 68.67% of the stock is owned by institutional investors and hedge funds.
Shares of Penumbra (NYSE:PEN) traded up 1.29% during trading on Wednesday, hitting $90.45. 392,814 shares of the stock were exchanged. Penumbra has a 52 week low of $54.96 and a 52 week high of $90.90. The firm has a market capitalization of $3.04 billion, a price-to-earnings ratio of 324.19 and a beta of 0.15. The stock’s 50 day moving average price is $85.08 and its 200 day moving average price is $77.73.
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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