Penumbra (NYSE:PEN) Issues Earnings Results, Misses Estimates By $0.01 EPS

Penumbra (NYSE:PEN - Get Free Report) issued its earnings results on Tuesday. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.01), Briefing.com reports. Penumbra had a return on equity of 7.49% and a net margin of 8.59%. The company had revenue of $278.70 million for the quarter, compared to the consensus estimate of $274.94 million. During the same period in the prior year, the company earned $0.23 earnings per share. The firm's revenue was up 15.5% compared to the same quarter last year.

Penumbra Stock Down 3.3 %

NYSE:PEN traded down $6.93 on Wednesday, hitting $203.07. The stock had a trading volume of 918,832 shares, compared to its average volume of 352,994. Penumbra has a 1 year low of $180.93 and a 1 year high of $348.67. The firm's fifty day simple moving average is $221.64 and its two-hundred day simple moving average is $232.02. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.49 and a current ratio of 6.06. The stock has a market cap of $7.87 billion, a P/E ratio of 87.92, a price-to-earnings-growth ratio of 2.06 and a beta of 0.57.

Insider Transactions at Penumbra

In related news, EVP Johanna Roberts sold 600 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $217.07, for a total transaction of $130,242.00. Following the completion of the sale, the executive vice president now directly owns 64,281 shares of the company's stock, valued at $13,953,476.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Johanna Roberts sold 600 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $217.07, for a total transaction of $130,242.00. Following the completion of the transaction, the executive vice president now owns 64,281 shares in the company, valued at $13,953,476.67. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Arani Bose sold 7,500 shares of the firm's stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $250.20, for a total transaction of $1,876,500.00. Following the sale, the director now owns 164,294 shares of the company's stock, valued at approximately $41,106,358.80. The disclosure for this sale can be found here. Insiders have sold 9,648 shares of company stock worth $2,369,903 in the last 90 days. Insiders own 5.00% of the company's stock.

Analyst Upgrades and Downgrades

PEN has been the subject of several research reports. Piper Sandler reduced their target price on Penumbra from $290.00 to $260.00 and set an "overweight" rating for the company in a research note on Wednesday. Canaccord Genuity Group lowered their target price on Penumbra from $284.00 to $272.00 and set a "buy" rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. downgraded shares of Penumbra from an "overweight" rating to a "neutral" rating and reduced their price target for the company from $284.00 to $250.00 in a research report on Friday, February 23rd. Royal Bank of Canada restated an "outperform" rating and set a $289.00 price objective on shares of Penumbra in a report on Friday, February 23rd. Finally, TheStreet upgraded shares of Penumbra from a "d+" rating to a "c-" rating in a report on Friday, January 12th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Penumbra has an average rating of "Moderate Buy" and a consensus price target of $300.64.

About Penumbra

Penumbra, Inc, together with its subsidiaries, designs, develops, manufactures, and markets medical devices in the United States and internationally. The company offers peripheral products, including the Indigo System for power aspiration of thrombus in the body; Lightning Flash, a mechanical thrombectomy system; Lightning Bolt 7, an arterial thrombectomy system; and CAT RX.