Leerink Partnrs Has Bearish Outlook for Penumbra Q4 Earnings

Penumbra, Inc. (NYSE:PEN - Free Report) - Equities researchers at Leerink Partnrs reduced their Q4 2024 EPS estimates for shares of Penumbra in a research report issued on Wednesday, October 30th. Leerink Partnrs analyst M. Kratky now anticipates that the company will post earnings per share of $0.74 for the quarter, down from their prior forecast of $0.82. Leerink Partnrs currently has a "Strong-Buy" rating on the stock. The consensus estimate for Penumbra's current full-year earnings is $2.58 per share. Leerink Partnrs also issued estimates for Penumbra's Q1 2025 earnings at $0.70 EPS and Q2 2025 earnings at $0.93 EPS.

Several other equities research analysts also recently weighed in on the stock. BTIG Research increased their target price on shares of Penumbra from $224.00 to $234.00 and gave the company a "buy" rating in a research note on Monday, October 14th. Citigroup increased their price objective on shares of Penumbra from $178.00 to $200.00 and gave the stock a "neutral" rating in a research report on Thursday, August 22nd. Canaccord Genuity Group boosted their target price on Penumbra from $176.00 to $235.00 and gave the company a "buy" rating in a research report on Wednesday, October 16th. Piper Sandler increased their price target on Penumbra from $225.00 to $235.00 and gave the stock an "overweight" rating in a report on Thursday. Finally, Truist Financial boosted their price objective on Penumbra from $200.00 to $235.00 and gave the company a "buy" rating in a report on Monday, October 14th. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $226.67.

Penumbra Trading Up 2.0 %

PEN traded up $4.51 during trading on Friday, reaching $233.38. The company had a trading volume of 525,994 shares, compared to its average volume of 384,357. The company has a quick ratio of 3.77, a current ratio of 6.25 and a debt-to-equity ratio of 0.02. The business has a 50 day simple moving average of $200.35 and a 200-day simple moving average of $193.80. The stock has a market cap of $9.06 billion, a P/E ratio of 266.28, a PEG ratio of 2.42 and a beta of 0.54. Penumbra has a 52 week low of $148.00 and a 52 week high of $277.34.

Penumbra (NYSE:PEN - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate 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 8.85% and a net margin of 2.97%. The company's revenue for the quarter was up 11.1% on a year-over-year basis. During the same period last year, the company earned $0.67 EPS.

Institutional Trading of Penumbra

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of Penumbra by 0.9% in the first quarter. Vanguard Group Inc. now owns 3,690,660 shares of the company's stock worth $823,681,000 after buying an additional 32,557 shares during the last quarter. Champlain Investment Partners LLC lifted its position in Penumbra by 131.8% during the 1st quarter. Champlain Investment Partners LLC now owns 1,084,595 shares of the company's stock worth $242,060,000 after acquiring an additional 616,700 shares during the period. William Blair Investment Management LLC grew its stake in Penumbra by 12.2% during the 1st quarter. William Blair Investment Management LLC now owns 833,703 shares of the company's stock valued at $186,066,000 after purchasing an additional 90,444 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Penumbra by 1.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 327,312 shares of the company's stock valued at $58,906,000 after purchasing an additional 4,814 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Penumbra by 96.7% in the second quarter. Dimensional Fund Advisors LP now owns 257,058 shares of the company's stock valued at $46,257,000 after purchasing an additional 126,392 shares during the period. 88.88% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Adam Elsesser sold 15,000 shares of the business's stock in a transaction on Monday, October 21st. The stock was sold at an average price of $204.56, for a total value of $3,068,400.00. Following the completion of the transaction, the chief executive officer now directly owns 867,582 shares of the company's stock, valued at approximately $177,472,573.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Johanna Roberts sold 600 shares of the business's stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $206.22, for a total transaction of $123,732.00. Following the sale, the executive vice president now owns 61,088 shares in the company, valued at approximately $12,597,567.36. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Adam Elsesser sold 15,000 shares of the company's stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $204.56, for a total transaction of $3,068,400.00. Following the transaction, the chief executive officer now owns 867,582 shares in the company, valued at approximately $177,472,573.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,368 shares of company stock worth $6,893,118 over the last 90 days. Company insiders own 5.00% of the company's stock.

Penumbra announced that its board has approved a share buyback program on Tuesday, August 13th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the company to buy up to 2.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's leadership believes its stock is undervalued.

Penumbra Company Profile

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.