Zacks: Analysts Anticipate Penumbra Inc (NYSE:PEN) Will Announce Quarterly Sales of $142.57 Million

Wall Street analysts forecast that Penumbra Inc (NYSE:PEN) will report $142.57 million in sales for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Penumbra’s earnings. The highest sales estimate is $143.03 million and the lowest is $142.10 million. Penumbra posted sales of $128.44 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 11%. The firm is expected to issue its next earnings results on Tuesday, May 5th.

According to Zacks, analysts expect that Penumbra will report full year sales of $636.37 million for the current year, with estimates ranging from $635.10 million to $637.63 million. For the next financial year, analysts forecast that the business will report sales of $764.86 million, with estimates ranging from $761.60 million to $768.11 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Penumbra.

Penumbra (NYSE:PEN) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.04. Penumbra had a return on equity of 7.72% and a net margin of 8.85%. The company had revenue of $145.26 million for the quarter, compared to analysts’ expectations of $141.64 million.

Several equities research analysts recently issued reports on PEN shares. JPMorgan Chase & Co. lifted their price objective on Penumbra from $185.00 to $200.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Wells Fargo & Co lowered their target price on Penumbra from $195.00 to $180.00 and set an “overweight” rating on the stock in a report on Monday. Zacks Investment Research raised shares of Penumbra from a “hold” rating to a “strong-buy” rating and set a $197.00 price target on the stock in a research report on Friday, February 28th. Canaccord Genuity reaffirmed a “buy” rating and set a $200.00 price target (up previously from $175.00) on shares of Penumbra in a research report on Wednesday, December 4th. Finally, Citigroup reduced their price target on shares of Penumbra from $200.00 to $192.00 and set a “buy” rating on the stock in a research report on Friday, March 27th. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $191.57.

PEN stock traded up $8.22 during trading on Monday, hitting $161.83. The stock had a trading volume of 233,753 shares, compared to its average volume of 352,979. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.09 and a quick ratio of 3.41. Penumbra has a twelve month low of $121.80 and a twelve month high of $194.93. The stock has a market capitalization of $5.65 billion, a P/E ratio of 119.87 and a beta of 0.69. The company’s 50-day moving average price is $168.84 and its two-hundred day moving average price is $162.21.

In other Penumbra news, Director Bridget O’rourke sold 163 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $172.50, for a total value of $28,117.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Sridhar Kosaraju sold 2,500 shares of the business’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $154.36, for a total transaction of $385,900.00. The disclosure for this sale can be found here. In the last three months, insiders sold 34,467 shares of company stock worth $6,159,983. 9.60% of the stock is owned by corporate insiders.

Several large investors have recently bought and sold shares of the business. Municipal Employees Retirement System of Michigan grew its stake in shares of Penumbra by 1.2% in the fourth quarter. Municipal Employees Retirement System of Michigan now owns 5,940 shares of the company’s stock worth $976,000 after acquiring an additional 70 shares in the last quarter. Raymond James & Associates grew its stake in shares of Penumbra by 2.5% in the fourth quarter. Raymond James & Associates now owns 2,982 shares of the company’s stock worth $490,000 after acquiring an additional 73 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in shares of Penumbra by 1.0% in the fourth quarter. Thrivent Financial for Lutherans now owns 8,393 shares of the company’s stock worth $1,379,000 after acquiring an additional 82 shares in the last quarter. Louisiana State Employees Retirement System grew its stake in shares of Penumbra by 1.3% in the fourth quarter. Louisiana State Employees Retirement System now owns 7,800 shares of the company’s stock worth $1,281,000 after acquiring an additional 100 shares in the last quarter. Finally, Advisor Group Inc. grew its stake in shares of Penumbra by 73.5% during the fourth quarter. Advisor Group Inc. now owns 281 shares of the company’s stock worth $46,000 after purchasing an additional 119 shares in the last quarter. Institutional investors and hedge funds own 84.61% 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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