Research Analysts Set Expectations for Penumbra Q4 Earnings

Penumbra, Inc. (NYSE:PEN) – Stock analysts at Leerink Partnrs lowered their Q4 2024 earnings per share (EPS) estimates for shares of Penumbra in a research note issued to investors on Wednesday, October 30th. Leerink Partnrs analyst M. Kratky now anticipates that the company will earn $0.74 per share for the quarter, down from their prior estimate of $0.82. Leerink Partnrs currently has a “Strong-Buy” rating on the stock. The consensus estimate for Penumbra’s current full-year earnings is $2.58 per share. Leerink Partnrs also issued estimates for Penumbra’s Q1 2025 earnings at $0.70 EPS and Q2 2025 earnings at $0.93 EPS.

A number of other brokerages have also recently commented on PEN. Truist Financial upped their target price on shares of Penumbra from $200.00 to $235.00 and gave the company a “buy” rating in a report on Monday, October 14th. Leerink Partners began coverage on Penumbra in a report on Tuesday, September 3rd. They issued an “outperform” rating and a $263.00 price objective on the stock. BTIG Research increased their price objective on Penumbra from $224.00 to $234.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Canaccord Genuity Group increased their target price on shares of Penumbra from $176.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, Wells Fargo & Company cut Penumbra from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $289.00 to $150.00 in a report on Wednesday, July 31st. Five research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $226.67.

Penumbra Trading Up 8.4 %

PEN opened at $229.00 on Friday. The firm has a market cap of $8.89 billion, a price-to-earnings ratio of 266.28, a price-to-earnings-growth ratio of 2.42 and a beta of 0.54. The business’s 50 day moving average is $200.35 and its two-hundred day moving average is $193.80. The company has a quick ratio of 3.77, a current ratio of 6.25 and a debt-to-equity ratio of 0.02. Penumbra has a 52 week low of $148.00 and a 52 week high of $277.34.

Penumbra (NYSE:PEN) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.16. The firm had revenue of $301.04 million during the quarter, compared to analysts’ expectations of $297.36 million. Penumbra had a net margin of 2.97% and a return on equity of 8.85%. Penumbra’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.67 earnings per share.

Penumbra declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, August 13th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the company to repurchase up to 2.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Activity at Penumbra

In other Penumbra news, CEO Adam Elsesser sold 1,620 shares of the business’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $200.00, for a total value of $324,000.00. Following the completion of the transaction, the chief executive officer now directly owns 925,962 shares in the company, valued at approximately $185,192,400. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Harpreet Grewal sold 782 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $204.11, for a total transaction of $159,614.02. Following the completion of the sale, the director now directly owns 8,863 shares of the company’s stock, valued at $1,809,026.93. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Adam Elsesser sold 1,620 shares of the company’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $200.00, for a total value of $324,000.00. Following the sale, the chief executive officer now owns 925,962 shares of the company’s stock, valued at $185,192,400. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,368 shares of company stock valued at $6,893,118. Company insiders own 5.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PEN. AlphaCentric Advisors LLC purchased a new stake in shares of Penumbra in the third quarter worth about $777,000. Diversify Wealth Management LLC acquired a new position in Penumbra during the 3rd quarter worth approximately $246,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in Penumbra during the 3rd quarter worth approximately $502,000. Pallas Capital Advisors LLC purchased a new position in Penumbra in the 3rd quarter worth approximately $220,000. Finally, State of Alaska Department of Revenue raised its stake in shares of Penumbra by 7.3% during the third quarter. State of Alaska Department of Revenue now owns 4,490 shares of the company’s stock valued at $872,000 after purchasing an additional 305 shares during the period. 88.88% of the stock is owned by institutional investors and hedge funds.

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.