$0.18 Earnings Per Share Expected for Penumbra Inc (NYSE:PEN) This Quarter

Wall Street analysts expect that Penumbra Inc (NYSE:PEN) will post $0.18 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Penumbra’s earnings, with the highest EPS estimate coming in at $0.22 and the lowest estimate coming in at $0.13. Penumbra reported earnings of $0.13 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 38.5%. The business is expected to report its next earnings report on Tuesday, February 25th.

According to Zacks, analysts expect that Penumbra will report full-year earnings of $0.95 per share for the current year, with EPS estimates ranging from $0.89 to $1.01. For the next fiscal year, analysts anticipate that the firm will report earnings of $1.14 per share, with EPS estimates ranging from $1.11 to $1.18. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover Penumbra.

Penumbra (NYSE:PEN) last released its earnings results on Thursday, November 7th. The company reported $0.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.07. The firm had revenue of $139.50 million during the quarter, compared to analysts’ expectations of $133.98 million. Penumbra had a net margin of 8.69% and a return on equity of 7.23%. Penumbra’s revenue for the quarter was up 24.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.17 EPS.

Several analysts have commented on PEN shares. Zacks Investment Research cut shares of Penumbra from a “buy” rating to a “hold” rating in a research note on Tuesday, October 29th. Canaccord Genuity reissued a “buy” rating and set a $200.00 price objective (up from $175.00) on shares of Penumbra in a research note on Wednesday, December 4th. Royal Bank of Canada reissued an “outperform” rating and set a $192.00 price objective on shares of Penumbra in a research note on Monday, December 2nd. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Penumbra from $185.00 to $200.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $187.50.

PEN stock traded down $2.65 during midday trading on Thursday, hitting $158.48. The stock had a trading volume of 528,430 shares, compared to its average volume of 452,088. The firm has a market cap of $5.86 billion, a PE ratio of 310.75, a price-to-earnings-growth ratio of 9.43 and a beta of 0.76. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.24 and a quick ratio of 3.61. Penumbra has a 12-month low of $110.84 and a 12-month high of $185.70. The company’s 50-day moving average price is $165.26 and its 200 day moving average price is $156.29.

In other news, Director Harpreet Grewal sold 237 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $134.93, for a total transaction of $31,978.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Adam Elsesser sold 8,000 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $144.67, for a total transaction of $1,157,360.00. The disclosure for this sale can be found here. Insiders have sold a total of 57,217 shares of company stock valued at $9,024,938 over the last three months. Corporate insiders own 9.60% of the company’s stock.

Several large investors have recently bought and sold shares of the stock. BlackRock Inc. lifted its holdings in shares of Penumbra by 11.0% during the 2nd quarter. BlackRock Inc. now owns 1,688,948 shares of the company’s stock valued at $270,233,000 after acquiring an additional 167,084 shares in the last quarter. Baillie Gifford & Co. lifted its holdings in shares of Penumbra by 18.5% during the 2nd quarter. Baillie Gifford & Co. now owns 1,095,805 shares of the company’s stock valued at $175,329,000 after acquiring an additional 170,901 shares in the last quarter. William Blair Investment Management LLC lifted its holdings in shares of Penumbra by 39.6% during the 2nd quarter. William Blair Investment Management LLC now owns 958,597 shares of the company’s stock valued at $153,376,000 after acquiring an additional 271,784 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Penumbra by 3.1% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 835,670 shares of the company’s stock valued at $133,707,000 after acquiring an additional 25,476 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of Penumbra by 71.8% during the 3rd quarter. State Street Corp now owns 822,863 shares of the company’s stock valued at $110,667,000 after acquiring an additional 343,837 shares in the last quarter. Institutional investors and hedge funds own 95.17% of the company’s stock.

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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