Penumbra (NYSE:PEN) posted its quarterly earnings results on Thursday. The company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.07, Briefing.com reports. Penumbra had a return on equity of 6.80% and a net margin of 3.03%. The business had revenue of $139.50 million for the quarter, compared to analyst estimates of $133.98 million. During the same period last year, the company earned $0.17 EPS. Penumbra’s revenue for the quarter was up 24.8% compared to the same quarter last year.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.
NYSE PEN traded down $8.19 on Friday, hitting $164.74. The company’s stock had a trading volume of 1,524,751 shares, compared to its average volume of 452,991. Penumbra has a 52-week low of $110.84 and a 52-week high of $185.70. The company has a current ratio of 6.23, a quick ratio of 4.33 and a debt-to-equity ratio of 0.10. The company’s 50-day simple moving average is $148.54 and its 200 day simple moving average is $150.86. The firm has a market cap of $5.71 billion, a P/E ratio of 323.02, a PEG ratio of 9.46 and a beta of 0.73.
Several research firms recently issued reports on PEN. Royal Bank of Canada set a $174.00 price target on Penumbra and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Zacks Investment Research lowered Penumbra from a “buy” rating to a “hold” rating in a research report on Tuesday, October 29th. ValuEngine lowered Penumbra from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Wells Fargo & Co raised their price target on Penumbra from $185.00 to $195.00 and gave the stock an “outperform” rating in a research report on Friday. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Penumbra has an average rating of “Buy” and an average price target of $174.50.
In other Penumbra news, Director Harpreet Grewal sold 475 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $144.81, for a total value of $68,784.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Adam Elsesser sold 8,000 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $149.24, for a total value of $1,193,920.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,026 shares of company stock valued at $6,984,470. Company insiders own 9.60% 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.
Recommended Story: How does equity income fit into an investing strategy?