Leerink Partnrs Has Bearish Outlook for Penumbra Q4 Earnings

Penumbra, Inc. (NYSE:PEN) – Equities research analysts at Leerink Partnrs reduced their Q4 2024 earnings estimates for shares of Penumbra in a research note issued to investors on Wednesday, October 30th. Leerink Partnrs analyst M. Kratky now forecasts that the company will earn $0.74 per share for the quarter, down from their previous forecast of $0.82. Leerink Partnrs 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.

Penumbra (NYSE:PEN) 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 company 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%. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the company earned $0.67 earnings per share.

PEN has been the subject of a number of other research reports. Canaccord Genuity Group boosted their price target on shares of Penumbra from $176.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Robert W. Baird increased their target price on Penumbra from $244.00 to $248.00 and gave the company an “outperform” rating in a research note on Thursday. Wells Fargo & Company lowered Penumbra from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $289.00 to $150.00 in a research note on Wednesday, July 31st. Truist Financial increased their price objective on Penumbra from $200.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Finally, Leerink Partners initiated coverage on Penumbra in a report on Tuesday, September 3rd. They set an “outperform” rating and a $263.00 price objective on the stock. Five equities 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 data from MarketBeat.com, Penumbra has a consensus rating of “Moderate Buy” and a consensus price target of $226.67.

Penumbra Stock Up 1.9 %

PEN stock opened at $233.30 on Friday. The company’s 50 day moving average is $200.81 and its 200 day moving average is $193.84. The stock has a market cap of $8.95 billion, a price-to-earnings ratio of 271.28, a price-to-earnings-growth ratio of 2.62 and a beta of 0.51. The company has a current ratio of 5.82, a quick ratio of 3.77 and a debt-to-equity ratio of 0.02. Penumbra has a 1-year low of $148.00 and a 1-year high of $277.34.

Penumbra declared that its board has authorized a stock buyback plan on Tuesday, August 13th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 2.6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Penumbra

In related news, EVP Johanna Roberts sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $175.98, for a total transaction of $105,588.00. Following the completion of the transaction, the executive vice president now owns 61,688 shares in the company, valued at $10,855,854.24. This represents 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 available through this hyperlink. In other news, Director Harpreet Grewal sold 782 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $204.11, for a total value of $159,614.02. Following the sale, the director now directly owns 8,863 shares of the company’s stock, valued at $1,809,026.93. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Johanna Roberts sold 600 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $175.98, for a total value of $105,588.00. Following the transaction, the executive vice president now directly owns 61,688 shares of the company’s stock, valued at approximately $10,855,854.24. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,368 shares of company stock worth $6,893,118. 5.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Penumbra

Several large investors have recently modified their holdings of PEN. GAMMA Investing LLC raised its holdings 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 acquiring an additional 90 shares during the last quarter. WASHINGTON TRUST Co bought a new position in Penumbra during the second quarter valued at approximately $54,000. Park Place Capital Corp boosted its stake in shares of Penumbra by 1,473.9% in the 3rd quarter. Park Place Capital Corp now owns 362 shares of the company’s stock worth $70,000 after buying an additional 339 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in Penumbra by 1,845.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 389 shares of the company’s stock worth $70,000 after purchasing an additional 369 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new position in shares of Penumbra in the first quarter worth approximately $89,000. Hedge funds and other institutional investors own 88.88% of the company’s stock.

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.