Leerink Partnrs Estimates Penumbra’s Q4 Earnings (NYSE:PEN)

Penumbra, Inc. (NYSE:PEN) – Equities researchers at Leerink Partnrs lifted their Q4 2024 earnings per share (EPS) estimates for shares of Penumbra in a research report issued to clients and investors on Monday, November 25th. Leerink Partnrs analyst M. Kratky now expects that the company will earn $0.88 per share for the quarter, up from their prior forecast of $0.74. Leerink Partnrs has a “Strong-Buy” rating on the stock. The consensus estimate for Penumbra’s current full-year earnings is $2.81 per share. Leerink Partnrs also issued estimates for Penumbra’s Q1 2025 earnings at $0.83 EPS, Q2 2025 earnings at $0.99 EPS, Q3 2025 earnings at $1.09 EPS and Q4 2025 earnings at $1.19 EPS.

A number of other research analysts also recently weighed in on PEN. Royal Bank of Canada upped their target price on Penumbra from $205.00 to $222.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Robert W. Baird upped their target price on Penumbra from $244.00 to $248.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Citigroup upped their target price on Penumbra from $178.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, August 22nd. Leerink Partners began coverage on Penumbra in a research note on Tuesday, September 3rd. They issued an “outperform” rating and a $263.00 price target on the stock. Finally, Canaccord Genuity Group upped their price target on Penumbra from $176.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Five research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $230.92.

Penumbra Trading Up 1.7 %

PEN opened at $248.96 on Wednesday. The business has a 50 day simple moving average of $213.93 and a two-hundred day simple moving average of $197.63. The firm has a market capitalization of $9.56 billion, a price-to-earnings ratio of 289.49, a PEG ratio of 2.47 and a beta of 0.51. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.82 and a quick ratio of 3.25. Penumbra has a one year low of $148.00 and a one year high of $277.34.

Penumbra (NYSE:PEN) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.16. The business had revenue of $301.04 million during the quarter, compared to analyst estimates of $297.36 million. Penumbra had a return on equity of 8.99% and a net margin of 2.97%. Penumbra’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.67 EPS.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PEN. True Wealth Design LLC bought a new position in Penumbra in the 3rd quarter worth approximately $26,000. GAMMA Investing LLC boosted its stake in Penumbra by 111.1% in the 3rd quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock worth $33,000 after purchasing an additional 90 shares during the period. WASHINGTON TRUST Co bought a new position in Penumbra in the 2nd quarter worth approximately $54,000. Park Place Capital Corp raised its holdings in shares of Penumbra by 1,473.9% during the 3rd quarter. Park Place Capital Corp now owns 362 shares of the company’s stock worth $70,000 after acquiring an additional 339 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in shares of Penumbra by 1,845.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 389 shares of the company’s stock worth $70,000 after acquiring an additional 369 shares in the last quarter. 88.88% of the stock is currently owned by institutional investors.

Insider Activity at Penumbra

In related news, Director Harpreet Grewal sold 782 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $204.11, for a total transaction of $159,614.02. Following the completion of the transaction, the director now directly owns 8,863 shares in the company, valued at approximately $1,809,026.93. The trade was a 8.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Johanna Roberts sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $206.22, for a total value of $123,732.00. Following the transaction, the executive vice president now owns 61,088 shares of the company’s stock, valued at approximately $12,597,567.36. This trade represents a 0.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,748 shares of company stock worth $10,166,574. 5.00% of the stock is owned by company insiders.

Penumbra announced that its Board of Directors has initiated a stock buyback program on Tuesday, August 13th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 2.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

About Penumbra

Penumbra, Inc, together with its subsidiaries, designs, develops, manufactures, and markets medical devices in the United States and internationally. The company offers peripheral products, including the Indigo System for power aspiration of thrombus in the body; Lightning Flash, a mechanical thrombectomy system; Lightning Bolt 7, an arterial thrombectomy system; and CAT RX.