Equities analysts predict that Penumbra (NYSE:PEN) will report sales of $92.57 million for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Penumbra’s earnings. The lowest sales estimate is $92.50 million and the highest is $92.64 million. Penumbra posted sales of $73.21 million in the same quarter last year, which suggests a positive year-over-year growth rate of 26.4%. The business is expected to announce its next earnings report on Tuesday, May 8th.
On average, analysts expect that Penumbra will report full year sales of $404.15 million for the current fiscal year, with estimates ranging from $402.00 million to $406.14 million. For the next fiscal year, analysts expect that the business will post sales of $477.56 million per share, with estimates ranging from $475.90 million to $479.89 million. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Penumbra.
Penumbra (NYSE:PEN) last posted its earnings results on Tuesday, February 27th. The company reported $0.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.11. The business had revenue of $96.05 million during the quarter, compared to the consensus estimate of $87.69 million. Penumbra had a negative return on equity of 0.23% and a net margin of 1.40%.
Several equities analysts recently commented on the company. Canaccord Genuity restated a “buy” rating and set a $125.00 target price on shares of Penumbra in a research report on Thursday, April 5th. Goldman Sachs assumed coverage on Penumbra in a research report on Wednesday, April 4th. They set a “buy” rating and a $145.00 target price for the company. Wells Fargo raised their target price on Penumbra to $138.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 13th. BMO Capital Markets raised their target price on Penumbra from $110.00 to $115.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 28th. Finally, William Blair assumed coverage on Penumbra in a research report on Wednesday, February 21st. They set an “outperform” rating for the company. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $130.75.
Shares of Penumbra stock traded up $1.85 during midday trading on Thursday, hitting $124.85. 145,586 shares of the company were exchanged, compared to its average volume of 287,674. The company has a market capitalization of $4,167.40, a PE ratio of -12,445.00, a price-to-earnings-growth ratio of 44.40 and a beta of 0.01. Penumbra has a 52 week low of $77.75 and a 52 week high of $127.40.
In related news, Director Don W. Kassing sold 2,000 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $100.94, for a total transaction of $201,880.00. Following the completion of the sale, the director now directly owns 2,648 shares of the company’s stock, valued at approximately $267,289.12. 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 6,000 shares of the firm’s stock in a transaction on Thursday, March 15th. The shares were sold at an average price of $125.02, for a total value of $750,120.00. Following the sale, the executive vice president now directly owns 144,319 shares of the company’s stock, valued at $18,042,761.38. The disclosure for this sale can be found here. Insiders have sold a total of 24,000 shares of company stock valued at $2,852,337 in the last 90 days. 13.50% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. increased its holdings in Penumbra by 8.4% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 131,584 shares of the company’s stock valued at $11,883,000 after purchasing an additional 10,232 shares in the last quarter. American International Group Inc. increased its holdings in Penumbra by 8.1% during the 3rd quarter. American International Group Inc. now owns 19,655 shares of the company’s stock valued at $1,775,000 after purchasing an additional 1,470 shares in the last quarter. Carillon Tower Advisers Inc. acquired a new stake in Penumbra during the 4th quarter valued at $33,998,000. Neuberger Berman Group LLC increased its holdings in Penumbra by 0.8% during the 3rd quarter. Neuberger Berman Group LLC now owns 250,500 shares of the company’s stock valued at $22,620,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Penumbra by 45.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,691 shares of the company’s stock valued at $159,000 after purchasing an additional 532 shares in the last quarter. 73.42% of the stock is owned by hedge funds and other institutional investors.
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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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