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

Penumbra (NYSE:PEN) announced its earnings results on Thursday. The company reported $0.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.07, Briefing.com reports. Penumbra had a net margin of 3.03% and a return on equity of 6.80%. The business had revenue of $139.50 million for the quarter, compared to the consensus estimate of $133.98 million. During the same quarter in the prior year, the firm posted $0.17 earnings per share. The business’s revenue for the quarter was up 24.8% on a year-over-year basis.

PEN stock traded down $8.19 during trading on Friday, hitting $164.74. The company had a trading volume of 1,524,751 shares, compared to its average volume of 452,991. The firm has a market capitalization of $5.71 billion, a P/E ratio of 323.02, a PEG ratio of 9.46 and a beta of 0.73. Penumbra has a 52-week low of $110.84 and a 52-week high of $185.70. The company has a 50 day simple moving average of $148.54 and a 200-day simple moving average of $150.86. The company has a quick ratio of 4.33, a current ratio of 6.23 and a debt-to-equity ratio of 0.10.

PEN has been the topic of several recent analyst reports. ValuEngine downgraded shares of Penumbra from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Zacks Investment Research downgraded shares of Penumbra from a “buy” rating to a “hold” rating in a research note on Tuesday, October 29th. Wells Fargo & Co raised their price target on shares of Penumbra from $185.00 to $195.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Royal Bank of Canada set a $174.00 price target on shares of Penumbra and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $174.50.

In other Penumbra news, insider James Robert Pray sold 5,333 shares of the firm’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $150.06, for a total transaction of $800,269.98. Following the transaction, the insider now owns 1,578 shares of the company’s stock, valued at approximately $236,794.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Lynn Rothman sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $160.13, for a total transaction of $800,650.00. Following the transaction, the executive vice president now directly owns 12,012 shares in the company, valued at approximately $1,923,481.56. The disclosure for this sale can be found here. Insiders have sold a total of 47,026 shares of company stock worth $6,984,470 in the last three months. Insiders own 9.60% of the company’s stock.

About Penumbra

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 for Penumbra (NYSE:PEN)

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