Penumbra (NYSE:PEN) Announces Quarterly Earnings Results

Penumbra (NYSE:PEN) issued its quarterly earnings data on Thursday. The company reported $1.07 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.13), FiscalAI reports. The business had revenue of $410.15 million during the quarter, compared to analyst estimates of $401.41 million. Penumbra had a net margin of 10.06% and a return on equity of 10.57%. The firm’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.97 earnings per share.

Penumbra Price Performance

Penumbra stock traded down $3.29 during midday trading on Friday, reaching $318.68. The company had a trading volume of 497,717 shares, compared to its average volume of 391,283. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.75 and a quick ratio of 3.86. Penumbra has a 12-month low of $221.26 and a 12-month high of $362.41. The company has a market capitalization of $12.55 billion, a P/E ratio of 80.27, a P/E/G ratio of 2.21 and a beta of 0.70. The firm’s fifty day simple moving average is $320.57 and its 200-day simple moving average is $327.37.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on PEN shares. Zacks Research upgraded Penumbra from a “strong sell” rating to a “hold” rating in a research report on Monday, August 24th. Evercore reissued an “outperform” rating and issued a $320.00 price target on shares of Penumbra in a report on Monday, July 6th. Finally, Weiss Ratings raised shares of Penumbra from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday. Three research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $367.07.

Penumbra Company Profile

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.