Penumbra (NYSE:PEN) Releases Earnings Results, Beats Expectations By $0.07 EPS

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

Penumbra Price Performance

Shares of PEN stock traded up $43.07 during trading hours on Thursday, hitting $268.61. The company had a trading volume of 347,085 shares, compared to its average volume of 476,574. The firm’s fifty day moving average is $256.21 and its 200 day moving average is $258.61. 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 quick ratio of 4.04 and a current ratio of 6.75. The firm has a market capitalization of $10.48 billion, a price-to-earnings ratio of 71.22, a PEG ratio of 2.10 and a beta of 0.51.

Analyst Ratings Changes

PEN has been the topic of a number of research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $326.00 target price on shares of Penumbra in a report on Monday, October 27th. BTIG Research restated a “buy” rating and issued a $320.00 target price on shares of Penumbra in a research note on Monday, October 27th. Wells Fargo & Company set a $290.00 target price on Penumbra in a research note on Wednesday, October 1st. Weiss Ratings restated a “hold (c)” rating on shares of Penumbra in a research note on Wednesday, October 8th. Finally, Citigroup lowered their target price on Penumbra from $320.00 to $285.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 9th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $306.25.

Insider Activity

In other news, EVP Johanna Roberts sold 600 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $270.58, for a total transaction of $162,348.00. Following the transaction, the executive vice president owned 64,857 shares in the company, valued at approximately $17,549,007.06. This represents a 0.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Maggie Yuen sold 2,000 shares of the company’s stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $250.00, for a total transaction of $500,000.00. Following the transaction, the chief financial officer owned 12,943 shares in the company, valued at $3,235,750. This represents a 13.38% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 48,430 shares of company stock valued at $12,504,268. Corporate insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On Penumbra

Several institutional investors and hedge funds have recently made changes to their positions in the business. Corient Private Wealth LLC grew its holdings in shares of Penumbra by 4.1% during the 2nd quarter. Corient Private Wealth LLC now owns 2,335 shares of the company’s stock valued at $599,000 after purchasing an additional 92 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of 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 purchasing an additional 184 shares during the last quarter. Lazard Asset Management LLC grew its holdings in shares of Penumbra by 28.3% during the 2nd quarter. Lazard Asset Management LLC now owns 902 shares of the company’s stock valued at $231,000 after purchasing an additional 199 shares during the last quarter. Diversify Advisory Services LLC grew its holdings in shares of Penumbra by 8.4% during the 2nd quarter. Diversify Advisory Services LLC now owns 3,132 shares of the company’s stock valued at $778,000 after purchasing an additional 243 shares during the last quarter. Finally, State of Wyoming bought a new position in shares of Penumbra during the 2nd quarter valued at $64,000. Institutional investors own 88.88% of the company’s stock.

Penumbra Company Profile

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.