Penumbra (PEN) Posts Quarterly Earnings Results, Beats Expectations By $0.10 EPS

Penumbra (NYSE:PEN) posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.10, Morningstar.com reports. The company had revenue of $128.44 million for the quarter, compared to analyst estimates of $123.09 million. Penumbra had a net margin of 2.51% and a return on equity of 5.84%. Penumbra’s quarterly revenue was up 25.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.15 earnings per share.

PEN traded down $3.60 during trading on Friday, hitting $142.70. 346,869 shares of the company’s stock were exchanged, compared to its average volume of 410,556. The company has a quick ratio of 4.34, a current ratio of 6.10 and a debt-to-equity ratio of 0.11. Penumbra has a 1 year low of $110.84 and a 1 year high of $167.35. The company has a market cap of $5.08 billion, a P/E ratio of 279.80, a P/E/G ratio of 7.30 and a beta of 0.71.

In other Penumbra news, CEO Adam Elsesser sold 8,000 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $139.86, for a total transaction of $1,118,880.00. Following the transaction, the chief executive officer now directly owns 1,115,838 shares in the company, valued at approximately $156,061,102.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Arani Bose sold 55,000 shares of the stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $160.07, for a total transaction of $8,803,850.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 94,175 shares of company stock valued at $14,150,971. 9.60% of the stock is owned by insiders.

Several large investors have recently modified their holdings of the business. FMR LLC raised its holdings in shares of Penumbra by 3.4% during the first quarter. FMR LLC now owns 5,197,972 shares of the company’s stock worth $764,155,000 after purchasing an additional 173,056 shares during the period. Vanguard Group Inc increased its holdings in shares of Penumbra by 2.7% in the 3rd quarter. Vanguard Group Inc now owns 2,646,066 shares of the company’s stock worth $396,116,000 after acquiring an additional 68,479 shares during the period. Vanguard Group Inc. increased its holdings in shares of Penumbra by 2.7% in the 3rd quarter. Vanguard Group Inc. now owns 2,646,066 shares of the company’s stock worth $396,116,000 after acquiring an additional 68,479 shares during the period. Wellington Management Group LLP increased its holdings in shares of Penumbra by 25.5% in the 1st quarter. Wellington Management Group LLP now owns 2,574,047 shares of the company’s stock worth $378,411,000 after acquiring an additional 522,714 shares during the period. Finally, Morgan Stanley increased its holdings in shares of Penumbra by 199.4% in the 1st quarter. Morgan Stanley now owns 2,183,124 shares of the company’s stock worth $320,941,000 after acquiring an additional 1,454,024 shares during the period. 86.59% of the stock is currently owned by institutional investors.

PEN has been the topic of a number of research analyst reports. ValuEngine raised shares of Penumbra from a “hold” rating to a “buy” rating in a report on Friday, March 15th. Zacks Investment Research raised shares of Penumbra from a “hold” rating to a “buy” rating and set a $157.00 price target on the stock in a report on Tuesday, March 5th. William Blair assumed coverage on shares of Penumbra in a report on Tuesday, May 21st. They issued an “outperform” rating on the stock. JPMorgan Chase & Co. raised shares of Penumbra from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $140.00 to $170.00 in a research report on Thursday. Finally, HC Wainwright reissued a “buy” rating on shares of Penumbra in a research report on Wednesday, April 17th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $145.86.

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About Penumbra

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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Earnings History for Penumbra (NYSE:PEN)

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