Penumbra (NYSE:PEN) Posts Earnings Results, Misses Expectations By $0.27 EPS

Penumbra (NYSE:PEN) posted its quarterly earnings data on Thursday. The company reported $0.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.27), FiscalAI reports. The firm had revenue of $390.05 million for the quarter, compared to analysts’ expectations of $389.64 million. Penumbra had a net margin of 11.76% and a return on equity of 10.87%. The company’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.86 EPS.

Penumbra Stock Down 0.0%

Shares of PEN traded down $0.04 during midday trading on Thursday, hitting $320.09. The company had a trading volume of 357,942 shares, compared to its average volume of 376,100. The stock has a market cap of $12.59 billion, a price-to-earnings ratio of 83.58, a PEG ratio of 1.98 and a beta of 0.70. The company’s 50 day moving average price is $318.89 and its 200 day moving average price is $330.09. The company has a quick ratio of 3.95, a current ratio of 6.02 and a debt-to-equity ratio of 0.01. Penumbra has a 52 week low of $221.26 and a 52 week high of $362.41.

Hedge Funds Weigh In On Penumbra

A number of hedge funds have recently bought and sold shares of PEN. Guggenheim Capital LLC lifted its holdings in Penumbra by 47.5% during the 4th quarter. Guggenheim Capital LLC now owns 3,506 shares of the company’s stock worth $1,090,000 after buying an additional 1,129 shares during the last quarter. Stifel Financial Corp increased its holdings in shares of Penumbra by 16.3% in the 4th quarter. Stifel Financial Corp now owns 3,331 shares of the company’s stock valued at $1,036,000 after acquiring an additional 466 shares during the last quarter. Perbak Capital Partners LLP raised its position in shares of Penumbra by 152.2% during the 3rd quarter. Perbak Capital Partners LLP now owns 3,773 shares of the company’s stock valued at $956,000 after acquiring an additional 2,277 shares in the last quarter. Aviva PLC acquired a new stake in shares of Penumbra during the 4th quarter valued at approximately $518,000. Finally, Vident Advisory LLC lifted its stake in Penumbra by 15.4% during the fourth quarter. Vident Advisory LLC now owns 1,607 shares of the company’s stock worth $500,000 after purchasing an additional 215 shares during the last quarter. 88.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on PEN shares. Wall Street Zen raised shares of Penumbra to a “hold” rating in a research note on Saturday, May 9th. Royal Bank Of Canada restated a “sector perform” rating and set a $374.00 target price on shares of Penumbra in a research note on Thursday, June 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Penumbra in a research report on Friday, July 17th. Citigroup cut their price target on Penumbra from $374.00 to $350.00 and set a “neutral” rating on the stock in a research note on Thursday, May 7th. Finally, Evercore restated an “outperform” rating and set a $320.00 price objective on shares of Penumbra in a research note on Monday, July 6th. Three research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Penumbra has a consensus rating of “Hold” and an average target price of $360.33.

About Penumbra

Penumbra, Inc is a global healthcare company specializing in the development and manufacture of innovative medical devices that address neurovascular and peripheral vascular conditions. The company focuses on products designed to improve patient outcomes in acute ischemic stroke, aneurysm treatment and peripheral thrombectomy. Penumbra’s technologies are used by interventional neuroradiologists, neurosurgeons and interventional cardiologists in hospitals and clinics around the world.

At the core of Penumbra’s portfolio is its mechanical thrombectomy platform, which includes aspiration catheters and accessory devices engineered to remove blood clots in acute stroke cases.