Wall Street brokerages expect Penumbra, Inc. (NYSE:PEN) to post sales of $153.25 million for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Penumbra's earnings, with the lowest sales estimate coming in at $150.80 million and the highest estimate coming in at $155.70 million. Penumbra reported sales of $137.33 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 11.6%. The company is expected to announce its next quarterly earnings report on Thursday, May 6th.
On average, analysts expect that Penumbra will report full-year sales of $680.57 million for the current financial year, with estimates ranging from $680.20 million to $680.93 million. For the next financial year, analysts anticipate that the company will post sales of $800.01 million, with estimates ranging from $798.21 million to $801.80 million. Zacks Investment Research's sales calculations are a mean average based on a survey of analysts that cover Penumbra.
Penumbra (NYSE:PEN) last released its quarterly earnings data on Tuesday, February 23rd. The company reported $0.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters' consensus estimate of ($0.08) by $0.50. The firm had revenue of $166.90 million during the quarter, compared to analysts' expectations of $159.69 million. Penumbra had a negative net margin of 1.79% and a negative return on equity of 0.12%. Penumbra's revenue was up 14.9% compared to the same quarter last year. During the same period last year, the business earned $0.27 earnings per share.
Several research analysts recently weighed in on the company. Canaccord Genuity increased their price objective on Penumbra from $204.00 to $310.00 and gave the stock a "buy" rating in a research report on Wednesday, February 24th. Wells Fargo & Company raised their price objective on Penumbra from $260.00 to $310.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 2nd. BTIG Research cut shares of Penumbra from a "buy" rating to a "neutral" rating in a research report on Wednesday, December 16th. Zacks Investment Research upgraded shares of Penumbra from a "sell" rating to a "hold" rating and set a $309.00 price target for the company in a research report on Thursday, February 18th. Finally, Citigroup boosted their price target on shares of Penumbra from $255.00 to $325.00 and gave the company a "buy" rating in a research note on Tuesday, March 2nd. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock has an average rating of "Buy" and a consensus price target of $283.29.
Shares of NYSE PEN opened at $271.75 on Thursday. Penumbra has a 1 year low of $153.65 and a 1 year high of $314.22. The company has a market capitalization of $9.91 billion, a P/E ratio of -1,006.48 and a beta of 0.43. The company has a 50 day simple moving average of $274.26 and a 200-day simple moving average of $236.25. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.46 and a quick ratio of 3.69.
In other news, insider Arani Bose sold 10,000 shares of the stock in a transaction dated Monday, February 1st. The shares were sold at an average price of $259.43, for a total transaction of $2,594,300.00. Following the sale, the insider now owns 539,506 shares of the company's stock, valued at $139,964,041.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.90% of the stock is owned by corporate insiders.
Several institutional investors have recently bought and sold shares of PEN. Norges Bank purchased a new position in Penumbra in the fourth quarter valued at $64,559,000. Price T Rowe Associates Inc. MD raised its position in Penumbra by 27.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,379,412 shares of the company's stock valued at $241,397,000 after purchasing an additional 299,404 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Penumbra by 5.7% in the 4th quarter. BlackRock Inc. now owns 3,558,884 shares of the company's stock valued at $622,806,000 after buying an additional 192,981 shares during the period. Morgan Stanley grew its position in shares of Penumbra by 100.8% during the third quarter. Morgan Stanley now owns 332,811 shares of the company's stock worth $64,692,000 after buying an additional 167,089 shares in the last quarter. Finally, PFM Health Sciences LP increased its stake in shares of Penumbra by 115.1% during the third quarter. PFM Health Sciences LP now owns 239,397 shares of the company's stock worth $46,534,000 after buying an additional 128,095 shares during the period. 88.21% of the stock is currently owned by institutional investors and hedge funds.
About Penumbra
Penumbra, Inc engages in the design, development, manufacture, and marketing of innovative medical devices. It offers thrombectomy, embolization, access, neurosurgical tools, ruby coil system, lantern, penumbra occlusion device (POD) system, packing coil, and indigo systems products. Its target markets include interventional neuroradiologists, neurosurgeons, and interventional neurologists; and interventional radiologists, vascular surgeons, and interventional cardiologists.
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