Penumbra (NYSE:PEN) Announces Earnings Results

Penumbra (NYSE:PEN) posted its quarterly earnings results on Thursday. The company reported $1.07 earnings per share for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.13), FiscalAI reports. Penumbra had a return on equity of 10.50% and a net margin of 10.67%. The business had revenue of $410.15 million for the quarter, compared to analyst estimates of $401.41 million. During the same quarter in the prior year, the firm earned $0.97 EPS. The firm’s quarterly revenue was up 15.6% on a year-over-year basis.

Penumbra Price Performance

NYSE:PEN traded up $3.37 during mid-day trading on Thursday, reaching $321.68. 672,769 shares of the company were exchanged, compared to its average volume of 375,171. Penumbra has a 12 month low of $221.26 and a 12 month high of $362.41. The company has a fifty day moving average of $320.68 and a 200 day moving average of $327.38. The company has a quick ratio of 3.86, a current ratio of 5.75 and a debt-to-equity ratio of 0.01. The stock has a market cap of $12.67 billion, a PE ratio of 82.68, a PEG ratio of 2.19 and a beta of 0.70.

Analyst Upgrades and Downgrades

PEN has been the subject of several analyst reports. Evercore reissued an “outperform” rating and set a $320.00 price target on shares of Penumbra in a report on Monday, July 6th. Zacks Research raised shares of Penumbra from a “strong sell” rating to a “hold” rating in a research note on Monday, August 24th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Penumbra in a report on Thursday, October 15th. Three investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. According to MarketBeat, Penumbra currently has an average rating of “Hold” and a consensus price target of $367.07.

About Penumbra

Penumbra, Inc is a medical device company that develops, manufactures and markets products used to treat patients with vascular conditions. Its technologies are primarily designed for minimally invasive procedures in the neurovascular and peripheral vascular markets, including the treatment of ischemic stroke, brain aneurysms and other vascular disorders.

The company’s product portfolio includes aspiration and mechanical thrombectomy systems for removing blood clots, embolization devices for blocking abnormal blood flow, and access and delivery products used during endovascular procedures.