Equities analysts expect that Penumbra, Inc. (NYSE:PEN) will post $181.19 million in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Penumbra's earnings, with estimates ranging from $180.54 million to $181.70 million. Penumbra reported sales of $151.08 million in the same quarter last year, which indicates a positive year-over-year growth rate of 19.9%. The company is expected to issue its next earnings report after the market closes on Wednesday, November 3rd.
According to Zacks, analysts expect that Penumbra will report full year sales of $727.08 million for the current year, with estimates ranging from $725.98 million to $728.60 million. For the next year, analysts forecast that the firm will report sales of $853.74 million, with estimates ranging from $847.37 million to $857.60 million. Zacks' sales averages are a mean average based on a survey of sell-side analysts that follow Penumbra.
Penumbra (NYSE:PEN) last released its quarterly earnings results on Monday, August 9th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.02. The business had revenue of $184.26 million during the quarter, compared to the consensus estimate of $170.77 million. Penumbra had a return on equity of 5.52% and a net margin of 2.37%. The business's revenue was up 75.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.30) EPS.
Several equities analysts recently commented on PEN shares. BTIG Research raised their target price on Penumbra from $299.00 to $308.00 and gave the stock a "buy" rating in a research report on Tuesday, August 10th. Truist started coverage on Penumbra in a report on Wednesday, September 15th. They issued a "buy" rating and a $350.00 price target on the stock. Truist Securities started coverage on Penumbra in a research report on Thursday, September 16th. They issued a "buy" rating and a $350.00 target price on the stock. Finally, Citigroup upped their target price on Penumbra from $335.00 to $340.00 and gave the company a "buy" rating in a research report on Tuesday, August 10th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of $324.22.
In other Penumbra news, insider James Robert Pray sold 5,000 shares of the company's stock in a transaction on Tuesday, August 10th. The stock was sold at an average price of $260.79, for a total transaction of $1,303,950.00. Following the completion of the sale, the insider now directly owns 1,578 shares in the company, valued at $411,526.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Harpreet Grewal sold 634 shares of the stock in a transaction on Friday, October 1st. The shares were sold at an average price of $267.06, for a total value of $169,316.04. The disclosure for this sale can be found here. In the last 90 days, insiders sold 67,431 shares of company stock worth $17,748,651. Corporate insiders own 7.50% of the company's stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC grew its stake in shares of Penumbra by 0.6% in the 2nd quarter. FMR LLC now owns 5,472,364 shares of the company's stock worth $1,499,756,000 after buying an additional 33,542 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Penumbra by 1.2% in the second quarter. Vanguard Group Inc. now owns 3,245,839 shares of the company's stock valued at $889,554,000 after acquiring an additional 38,299 shares during the period. Baillie Gifford & Co. raised its stake in shares of Penumbra by 4.3% during the 2nd quarter. Baillie Gifford & Co. now owns 1,339,146 shares of the company's stock worth $367,006,000 after buying an additional 55,761 shares during the last quarter. State Street Corp raised its stake in shares of Penumbra by 9.3% during the 2nd quarter. State Street Corp now owns 891,142 shares of the company's stock worth $244,226,000 after buying an additional 75,687 shares during the last quarter. Finally, Champlain Investment Partners LLC increased its position in Penumbra by 0.8% during the 2nd quarter. Champlain Investment Partners LLC now owns 434,370 shares of the company's stock worth $119,043,000 after purchasing an additional 3,615 shares in the last quarter. 80.61% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE:PEN opened at $269.71 on Friday. The business has a 50 day moving average price of $268.87 and a 200 day moving average price of $269.82. The company has a quick ratio of 3.68, a current ratio of 6.04 and a debt-to-equity ratio of 0.04. Penumbra has a twelve month low of $163.49 and a twelve month high of $320.00. The company has a market cap of $9.87 billion, a price-to-earnings ratio of 627.23, a PEG ratio of 13.67 and a beta of 0.28.
Penumbra Company Profile
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.
Further Reading: Mutual funds are not immune from market timing
Get a free copy of the Zacks research report on Penumbra (PEN)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Before you consider Penumbra, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Penumbra wasn't on the list.
While Penumbra currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The 5 Stocks Here