Equities research analysts predict that Penumbra Inc (NYSE:PEN) will announce $131.25 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Penumbra’s earnings, with the lowest sales estimate coming in at $130.90 million and the highest estimate coming in at $131.60 million. Penumbra posted sales of $109.64 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 19.7%. The firm is expected to issue its next earnings results on Tuesday, August 6th.
According to Zacks, analysts expect that Penumbra will report full year sales of $536.65 million for the current financial year, with estimates ranging from $536.25 million to $537.00 million. For the next year, analysts anticipate that the firm will post sales of $642.39 million, with estimates ranging from $640.00 million to $645.08 million. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Penumbra.
Penumbra (NYSE:PEN) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.23 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.10. Penumbra had a return on equity of 5.84% and a net margin of 2.51%. The firm had revenue of $128.44 million during the quarter, compared to analyst estimates of $123.09 million. During the same period last year, the company posted $0.15 EPS. The business’s quarterly revenue was up 25.1% on a year-over-year basis.
Several analysts have recently commented on PEN shares. William Blair started coverage on Penumbra in a research note on Tuesday, May 21st. They issued an “outperform” rating for the company. HC Wainwright restated a “buy” rating on shares of Penumbra in a research note on Wednesday, April 17th. ValuEngine downgraded Penumbra from a “buy” rating to a “hold” rating in a research note on Thursday, February 28th. Zacks Investment Research downgraded Penumbra from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. Finally, JPMorgan Chase & Co. upgraded Penumbra from a “neutral” rating to an “overweight” rating and raised their target price for the company from $140.00 to $170.00 in a research note on Thursday, May 30th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $140.17.
Shares of PEN traded down $2.12 during trading hours on Friday, hitting $163.09. The stock had a trading volume of 469,819 shares, compared to its average volume of 406,886. The company has a debt-to-equity ratio of 0.11, a current ratio of 6.10 and a quick ratio of 4.34. The company has a market cap of $5.68 billion, a PE ratio of 319.78, a P/E/G ratio of 8.57 and a beta of 0.60. Penumbra has a 1-year low of $110.84 and a 1-year high of $169.57.
In other Penumbra news, Director Bridget O’rourke sold 175 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $145.72, for a total transaction of $25,501.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Arani Bose sold 55,000 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $160.07, for a total value of $8,803,850.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 86,175 shares of company stock valued at $13,047,341. 9.60% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Utah Retirement Systems increased its holdings in Penumbra by 1.3% during the 1st quarter. Utah Retirement Systems now owns 5,776 shares of the company’s stock worth $849,000 after purchasing an additional 76 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in Penumbra by 22.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 533 shares of the company’s stock worth $78,000 after purchasing an additional 96 shares in the last quarter. Campbell & CO Investment Adviser LLC increased its holdings in Penumbra by 5.4% during the 1st quarter. Campbell & CO Investment Adviser LLC now owns 2,591 shares of the company’s stock worth $381,000 after purchasing an additional 132 shares in the last quarter. State Board of Administration of Florida Retirement System increased its holdings in Penumbra by 0.4% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 42,577 shares of the company’s stock worth $6,259,000 after purchasing an additional 180 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Penumbra by 10.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,028 shares of the company’s stock worth $248,000 after purchasing an additional 185 shares in the last quarter. 86.59% of the stock is 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.
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