Penumbra (NYSE:PEN) Announces Quarterly Earnings Results

Key Points

• Penumbra reported mixed quarterly results: earnings of $1.07 per share missed analysts’ $1.20 consensus estimate, while revenue of $410.15 million exceeded expectations of $401.41 million.
• The stock rose 1.1% to $321.68 following the results. Penumbra maintains strong liquidity, with a 3.86 quick ratio and 5.75 current ratio, and minimal debt.
• Analyst sentiment remains cautious, with three Buy ratings and fourteen Holds producing an overall “Hold” consensus and an average price target of $367.07.

Penumbra (NYSE:PEN - Get Free Report) issued its quarterly earnings results on Thursday. The company reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.13), FiscalAI reports. Penumbra had a net margin of 10.67% and a return on equity of 10.50%. The firm had revenue of $410.15 million for the quarter, compared to the consensus estimate of $401.41 million.

Penumbra Stock Up 1.1%

Penumbra stock traded up $3.37 during midday trading on Thursday, reaching $321.68. The stock had a trading volume of 672,769 shares, compared to its average volume of 588,365. The firm's fifty day simple moving average is $320.79 and its 200-day simple moving average is $327.38. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.86 and a current ratio of 5.75. The stock has a market capitalization of $12.67 billion, a P/E ratio of 79.04, a price-to-earnings-growth ratio of 2.23 and a beta of 0.70. Penumbra has a 1-year low of $221.26 and a 1-year high of $362.41.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on PEN shares. Weiss Ratings restated a "hold (c)" rating on shares of Penumbra in a research report on Thursday, October 15th. Evercore reaffirmed an "outperform" rating and issued a $320.00 price objective on shares of Penumbra in a research note on Monday, July 6th. Finally, Zacks Research upgraded Penumbra from a "strong sell" rating to a "hold" rating in a report on Monday, August 24th. Three equities research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. According to MarketBeat, Penumbra has an average rating of "Hold" and a consensus price target of $367.07.

Penumbra Company Profile

Penumbra, Inc is a medical device company that develops, manufactures and markets products used to treat patients with vascular conditions. Its technologies are primarily designed for minimally invasive procedures in the neurovascular and peripheral vascular markets, including the treatment of ischemic stroke, brain aneurysms and other vascular disorders.

The company's product portfolio includes aspiration and mechanical thrombectomy systems for removing blood clots, embolization devices for blocking abnormal blood flow, and access and delivery products used during endovascular procedures.

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