Analysts expect Penumbra, Inc. (NYSE:PEN) to post sales of $77.99 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Penumbra’s earnings. The lowest sales estimate is $76.00 million and the highest is $79.98 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 scheduled to announce its next quarterly earnings results on Tuesday, August 8th.
On average, analysts expect that Penumbra will report full year sales of $77.99 million for the current year, with estimates ranging from $317.10 million to $320.90 million. For the next financial year, analysts forecast that the firm will report sales of $381.96 million per share, with estimates ranging from $377.30 million to $386.61 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Penumbra.
Penumbra (NYSE:PEN) last issued its quarterly earnings results on Tuesday, May 9th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by $0.04. Penumbra had a negative return on equity of 2.25% and a negative net margin of 2.31%. The business had revenue of $73.21 million during the quarter, compared to analyst estimates of $71.08 million. During the same period in the previous year, the business posted $0.07 earnings per share. The firm’s quarterly revenue was up 26.4% on a year-over-year basis.
PEN has been the topic of several recent analyst reports. Canaccord Genuity reissued a “buy” rating and set a $91.00 price target on shares of Penumbra in a research report on Monday, March 27th. BMO Capital Markets reaffirmed a “buy” rating and issued a $86.00 target price on shares of Penumbra in a research report on Tuesday, April 11th. Zacks Investment Research lowered Penumbra from a “hold” rating to a “sell” rating in a research report on Thursday, May 11th. Finally, BidaskClub raised Penumbra from a “hold” rating to a “buy” rating in a research report on Thursday, June 22nd.
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Shares of Penumbra (NYSE PEN) traded down 0.87% during mid-day trading on Friday, reaching $85.80. The company’s stock had a trading volume of 78,191 shares. The company has a market capitalization of $2.89 billion, a PE ratio of 307.53 and a beta of 0.14. Penumbra has a 52-week low of $56.05 and a 52-week high of $91.00. The firm’s 50 day moving average is $86.23 and its 200-day moving average is $80.88.
In other Penumbra news, EVP Robert D. Evans sold 10,000 shares of the company’s stock in a transaction dated Monday, April 24th. The stock was sold at an average price of $85.24, for a total value of $852,400.00. Following the transaction, the executive vice president now directly owns 12,075 shares of the company’s stock, valued at approximately $1,029,273. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 22.00% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. bought a new stake in Penumbra during the first quarter valued at about $194,000. Simplex Trading LLC increased its stake in Penumbra by 11.5% in the first quarter. Simplex Trading LLC now owns 2,565 shares of the company’s stock valued at $214,000 after buying an additional 265 shares during the period. FNY Partners Fund LP bought a new stake in Penumbra during the first quarter valued at about $223,000. Rathbone Brothers plc bought a new stake in Penumbra during the first quarter valued at about $250,000. Finally, Amalgamated Bank bought a new stake in Penumbra during the first quarter valued at about $274,000. Institutional investors own 68.67% of the company’s stock.
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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