Penumbra Inc (PEN) Expected to Announce Earnings of $0.03 Per Share

Brokerages predict that Penumbra Inc (NYSE:PEN) will announce earnings per share (EPS) of $0.03 for the current quarter, Zacks reports. Two analysts have made estimates for Penumbra’s earnings, with estimates ranging from $0.02 to $0.04. Penumbra reported earnings per share of ($0.05) in the same quarter last year, which suggests a positive year-over-year growth rate of 160%. The firm is expected to announce its next earnings report on Tuesday, August 14th.

According to Zacks, analysts expect that Penumbra will report full year earnings of $0.20 per share for the current fiscal year. For the next year, analysts anticipate that the business will post earnings of $0.45 per share, with EPS estimates ranging from $0.44 to $0.45. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that cover Penumbra.

Penumbra (NYSE:PEN) last issued its quarterly earnings results on Tuesday, May 8th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.08. Penumbra had a return on equity of 1.13% and a net margin of 3.65%. The firm had revenue of $102.70 million for the quarter, compared to the consensus estimate of $90.98 million. During the same period in the prior year, the business posted ($0.10) earnings per share. The company’s revenue for the quarter was up 40.3% on a year-over-year basis.

Several equities research analysts have recently weighed in on the company. Zacks Investment Research downgraded Penumbra from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 26th. Wells Fargo & Co reiterated an “outperform” rating and issued a $180.00 price target (up from $150.00) on shares of Penumbra in a report on Thursday, May 31st. ValuEngine upgraded Penumbra from a “hold” rating to a “buy” rating in a report on Wednesday, May 9th. BMO Capital Markets increased their price target on Penumbra from $115.00 to $140.00 and gave the stock a “market perform” rating in a report on Wednesday, May 9th. Finally, Canaccord Genuity increased their price target on Penumbra from $125.00 to $165.00 and gave the stock a “buy” rating in a report on Wednesday, May 9th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $161.20.

Shares of Penumbra traded down $1.10, hitting $139.00, during midday trading on Friday, according to Marketbeat Ratings. The company’s stock had a trading volume of 208,923 shares, compared to its average volume of 530,522. Penumbra has a 12-month low of $77.75 and a 12-month high of $167.35. The company has a market cap of $4.83 billion, a price-to-earnings ratio of -13,900.00, a PEG ratio of 42.76 and a beta of 0.17.

In other Penumbra news, EVP Lynn Rothman sold 4,900 shares of the firm’s stock in a transaction on Friday, May 4th. The stock was sold at an average price of $135.04, for a total transaction of $661,696.00. Following the transaction, the executive vice president now directly owns 139,419 shares in the company, valued at approximately $18,827,141.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Bridget O’rourke acquired 700 shares of Penumbra stock in a transaction on Friday, May 25th. The shares were purchased at an average price of $156.40 per share, for a total transaction of $109,480.00. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 21,900 shares of company stock worth $3,002,726. Company insiders own 10.70% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. increased its holdings in Penumbra by 11.4% during the 1st quarter. BlackRock Inc. now owns 2,160,448 shares of the company’s stock worth $249,854,000 after purchasing an additional 221,415 shares during the period. Redmile Group LLC increased its holdings in Penumbra by 9.2% during the 4th quarter. Redmile Group LLC now owns 617,279 shares of the company’s stock worth $58,086,000 after purchasing an additional 51,768 shares during the period. Baillie Gifford & Co. increased its holdings in Penumbra by 625.1% during the 1st quarter. Baillie Gifford & Co. now owns 581,703 shares of the company’s stock worth $67,273,000 after purchasing an additional 501,476 shares during the period. Summit Trail Advisors LLC purchased a new position in Penumbra during the 1st quarter worth $347,000. Finally, American Century Companies Inc. increased its holdings in Penumbra by 2.5% during the 1st quarter. American Century Companies Inc. now owns 327,321 shares of the company’s stock worth $37,855,000 after purchasing an additional 7,887 shares during the period. Institutional investors own 74.53% of the company’s stock.

Penumbra Company Profile

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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Earnings History and Estimates for Penumbra (NYSE:PEN)

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