Penumbra (NYSE:PEN) Releases Earnings Results, Beats Expectations By $0.07 EPS

Penumbra (NYSE:PEN) posted its quarterly earnings data on Wednesday. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.07, Zacks reports. The company had revenue of $354.69 million during the quarter, compared to analysts’ expectations of $340.77 million. Penumbra had a return on equity of 11.55% and a net margin of 11.54%. Penumbra updated its FY 2025 guidance to EPS.

Penumbra Stock Performance

Shares of PEN stock traded down $9.35 during trading on Wednesday, reaching $225.73. 627,466 shares of the company’s stock were exchanged, compared to its average volume of 477,421. Penumbra has a twelve month low of $221.26 and a twelve month high of $310.00. The firm’s fifty day moving average price is $257.06 and its 200-day moving average price is $258.84. The company has a quick ratio of 4.04, a current ratio of 6.75 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $8.80 billion, a PE ratio of 60.03, a PEG ratio of 2.10 and a beta of 0.51.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Robert W. Baird raised their price target on shares of Penumbra from $283.00 to $285.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 30th. William Blair raised shares of Penumbra to a “strong-buy” rating in a research report on Friday, July 18th. Truist Financial cut their price target on shares of Penumbra from $310.00 to $300.00 and set a “buy” rating on the stock in a research report on Wednesday, October 15th. UBS Group set a $335.00 price objective on Penumbra and gave the company a “buy” rating in a report on Wednesday, July 30th. Finally, Evercore ISI dropped their target price on Penumbra from $300.00 to $285.00 and set an “outperform” rating on the stock in a report on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $305.94.

Insider Activity

In other Penumbra news, Director Arani Bose sold 12,000 shares of the company’s stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $250.65, for a total value of $3,007,800.00. Following the transaction, the director directly owned 558 shares in the company, valued at $139,862.70. The trade was a 95.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Johanna Roberts sold 600 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $270.58, for a total transaction of $162,348.00. Following the sale, the executive vice president owned 64,857 shares of the company’s stock, valued at approximately $17,549,007.06. This represents a 0.92% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 48,430 shares of company stock valued at $12,504,268. 4.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its position in shares of Penumbra by 35.8% in the first quarter. Royal Bank of Canada now owns 19,332 shares of the company’s stock valued at $5,169,000 after acquiring an additional 5,092 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of Penumbra by 209.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 272 shares of the company’s stock worth $70,000 after purchasing an additional 184 shares in the last quarter. Cerity Partners LLC increased its holdings in shares of Penumbra by 22.3% during the second quarter. Cerity Partners LLC now owns 10,030 shares of the company’s stock worth $2,574,000 after purchasing an additional 1,829 shares during the period. California Public Employees Retirement System boosted its stake in shares of Penumbra by 7.9% in the second quarter. California Public Employees Retirement System now owns 61,027 shares of the company’s stock valued at $15,661,000 after buying an additional 4,491 shares during the period. Finally, Daiwa Securities Group Inc. acquired a new stake in Penumbra during the second quarter worth approximately $1,137,000. Institutional investors own 88.88% of the company’s stock.

Penumbra Company Profile

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.