$101.90 Million in Sales Expected for Penumbra Inc (PEN) This Quarter

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Equities research analysts expect Penumbra Inc (NYSE:PEN) to report $101.90 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Penumbra’s earnings. The highest sales estimate is $102.00 million and the lowest is $101.80 million. Penumbra posted sales of $83.91 million in the same quarter last year, which suggests a positive year-over-year growth rate of 21.4%. The company is expected to report its next quarterly earnings results after the market closes on Monday, November 5th.

On average, analysts expect that Penumbra will report full-year sales of $425.70 million for the current year, with estimates ranging from $425.00 million to $426.39 million. For the next financial year, analysts anticipate that the company will post sales of $513.42 million, with estimates ranging from $512.84 million to $514.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Penumbra.

Penumbra (NYSE:PEN) last released its quarterly earnings results on Tuesday, August 7th. The company reported $0.15 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.12. The business had revenue of $109.64 million during the quarter, compared to analyst estimates of $102.24 million. Penumbra had a net margin of 7.19% and a return on equity of 2.78%.

Several research analysts have weighed in on the stock. Zacks Investment Research lowered shares of Penumbra from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 26th. BMO Capital Markets raised their price objective on shares of Penumbra from $140.00 to $150.00 and gave the stock a “market perform” rating in a report on Thursday, August 9th. TheStreet raised shares of Penumbra from a “d+” rating to a “c” rating in a report on Monday, September 17th. Canaccord Genuity reissued a “buy” rating and set a $175.00 price objective on shares of Penumbra in a report on Monday, August 20th. Finally, Royal Bank of Canada assumed coverage on shares of Penumbra in a report on Monday, October 8th. They set an “outperform” rating and a $174.00 price objective for the company. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $161.17.

In other Penumbra news, Director Harpreet Grewal sold 1,528 shares of the firm’s stock in a transaction on Monday, August 27th. The shares were sold at an average price of $129.33, for a total transaction of $197,616.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Robert D. Evans sold 10,000 shares of the firm’s stock in a transaction on Monday, August 6th. The stock was sold at an average price of $150.16, for a total transaction of $1,501,600.00. Following the transaction, the executive vice president now directly owns 15,667 shares of the company’s stock, valued at $2,352,556.72. The disclosure for this sale can be found here. Over the last three months, insiders have sold 64,268 shares of company stock valued at $8,865,068. 10.70% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of PEN. Summit Trail Advisors LLC bought a new position in shares of Penumbra in the 1st quarter worth about $347,000. Renaissance Technologies LLC bought a new position in shares of Penumbra in the 2nd quarter worth about $17,365,000. Morgan Stanley lifted its position in shares of Penumbra by 15.7% in the 2nd quarter. Morgan Stanley now owns 710,987 shares of the company’s stock worth $98,222,000 after buying an additional 96,324 shares during the last quarter. Paloma Partners Management Co lifted its position in shares of Penumbra by 4,927.7% in the 2nd quarter. Paloma Partners Management Co now owns 90,499 shares of the company’s stock worth $12,503,000 after buying an additional 88,699 shares during the last quarter. Finally, Jane Street Group LLC bought a new position in shares of Penumbra in the 2nd quarter worth about $7,867,000. Institutional investors own 73.76% of the company’s stock.

Shares of PEN stock opened at $140.84 on Friday. The firm has a market cap of $5.15 billion, a price-to-earnings ratio of -14,050.00, a P/E/G ratio of 28.25 and a beta of 0.08. Penumbra has a 1-year low of $82.55 and a 1-year high of $167.35.

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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