Penumbra (NYSE:PEN) Issues Quarterly Earnings Results

Penumbra (NYSE:PEN) posted its earnings results on Thursday. The company reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.15 by ($0.27), FiscalAI reports. Penumbra had a return on equity of 10.87% and a net margin of 11.76%.The business had revenue of $390.05 million for the quarter, compared to analyst estimates of $389.64 million. During the same period last year, the business earned $0.86 EPS. Penumbra’s revenue was up 14.9% compared to the same quarter last year.

Penumbra Trading Down 0.0%

NYSE:PEN traded down $0.04 during trading hours on Thursday, reaching $320.09. 357,942 shares of the stock were exchanged, compared to its average volume of 376,100. Penumbra has a twelve month low of $221.26 and a twelve month high of $362.41. The business has a 50-day moving average of $318.89 and a two-hundred day moving average of $330.09. The company has a market capitalization of $12.59 billion, a price-to-earnings ratio of 73.75, a PEG ratio of 1.98 and a beta of 0.70. The company has a quick ratio of 3.95, a current ratio of 6.02 and a debt-to-equity ratio of 0.01.

Institutional Investors Weigh In On Penumbra

Several institutional investors and hedge funds have recently modified their holdings of PEN. UMB Bank n.a. lifted its stake in Penumbra by 11.3% during the 4th quarter. UMB Bank n.a. now owns 442 shares of the company’s stock worth $137,000 after acquiring an additional 45 shares in the last quarter. CIBC Private Wealth Group LLC increased its stake in Penumbra by 2,700.0% during the fourth quarter. CIBC Private Wealth Group LLC now owns 84 shares of the company’s stock worth $26,000 after purchasing an additional 81 shares during the period. Orion Porfolio Solutions LLC increased its stake in Penumbra by 7.3% during the third quarter. Orion Porfolio Solutions LLC now owns 1,201 shares of the company’s stock worth $304,000 after purchasing an additional 82 shares during the period. Motiv8 Investments LLC acquired a new stake in shares of Penumbra during the fourth quarter worth about $27,000. Finally, Corient Private Wealth LLC lifted its position in shares of Penumbra by 4.1% during the second quarter. Corient Private Wealth LLC now owns 2,335 shares of the company’s stock worth $599,000 after purchasing an additional 92 shares in the last quarter. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PEN. Evercore reiterated an “outperform” rating and set a $320.00 price target on shares of Penumbra in a report on Monday, July 6th. Royal Bank Of Canada restated a “sector perform” rating and issued a $374.00 price objective on shares of Penumbra in a report on Thursday, June 11th. Zacks Research lowered shares of Penumbra from a “hold” rating to a “strong sell” rating in a report on Monday, June 29th. Citigroup decreased their target price on shares of Penumbra from $374.00 to $350.00 and set a “neutral” rating on the stock in a research report on Thursday, May 7th. Finally, Wall Street Zen raised shares of Penumbra to a “hold” rating in a research note on Saturday, May 9th. Three research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $360.33.

About Penumbra

Penumbra, Inc is a global healthcare company specializing in the development and manufacture of innovative medical devices that address neurovascular and peripheral vascular conditions. The company focuses on products designed to improve patient outcomes in acute ischemic stroke, aneurysm treatment and peripheral thrombectomy. Penumbra’s technologies are used by interventional neuroradiologists, neurosurgeons and interventional cardiologists in hospitals and clinics around the world.

At the core of Penumbra’s portfolio is its mechanical thrombectomy platform, which includes aspiration catheters and accessory devices engineered to remove blood clots in acute stroke cases.