FY2024 EPS Estimates for Penumbra Lifted by Leerink Partnrs

Penumbra, Inc. (NYSE:PEN) – Research analysts at Leerink Partnrs upped their FY2024 earnings per share (EPS) estimates for shares of Penumbra in a note issued to investors on Wednesday, October 30th. Leerink Partnrs analyst M. Kratky now forecasts that the company will post earnings per share of $2.64 for the year, up from their prior forecast of $2.49. Leerink Partnrs has a “Strong-Buy” rating on the stock. The consensus estimate for Penumbra’s current full-year earnings is $2.72 per share. Leerink Partnrs also issued estimates for Penumbra’s Q3 2025 earnings at $1.17 EPS, Q4 2025 earnings at $1.21 EPS and FY2025 earnings at $4.00 EPS.

Penumbra (NYSE:PEN) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.16. The firm had revenue of $301.04 million for the quarter, compared to analyst estimates of $297.36 million. Penumbra had a net margin of 2.97% and a return on equity of 8.99%. Penumbra’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.67 earnings per share.

Several other research firms have also commented on PEN. Needham & Company LLC reissued a “hold” rating on shares of Penumbra in a research note on Thursday, October 31st. Morgan Stanley decreased their price target on Penumbra from $235.00 to $210.00 and set an “equal weight” rating for the company in a research report on Monday, July 15th. Piper Sandler boosted their price objective on Penumbra from $225.00 to $235.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Robert W. Baird raised their target price on shares of Penumbra from $244.00 to $248.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Finally, Royal Bank of Canada raised their price objective on shares of Penumbra from $205.00 to $222.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Penumbra currently has an average rating of “Moderate Buy” and an average price target of $226.67.

Penumbra Stock Performance

PEN opened at $232.39 on Monday. Penumbra has a twelve month low of $148.00 and a twelve month high of $277.34. The stock has a market cap of $8.92 billion, a PE ratio of 270.22, a price-to-earnings-growth ratio of 2.54 and a beta of 0.51. The business’s 50 day moving average is $201.95 and its 200-day moving average is $194.14. The company has a current ratio of 5.82, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02.

Penumbra announced that its Board of Directors has initiated a share repurchase 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 stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other Penumbra news, Director Harpreet Grewal sold 166 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $190.83, for a total transaction of $31,677.78. Following the sale, the director now owns 8,697 shares of the company’s stock, valued at $1,659,648.51. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Adam Elsesser sold 1,620 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $200.00, for a total value of $324,000.00. Following the completion of the transaction, the chief executive officer now directly owns 925,962 shares in the company, valued at approximately $185,192,400. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Harpreet Grewal sold 166 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $190.83, for a total transaction of $31,677.78. Following the sale, the director now owns 8,697 shares in the company, valued at $1,659,648.51. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 34,368 shares of company stock valued at $6,893,118. 5.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Penumbra

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its holdings in shares of Penumbra by 111.1% in the 3rd quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock valued at $33,000 after purchasing an additional 90 shares during the period. WASHINGTON TRUST Co bought a new stake in shares of Penumbra in the second quarter valued at about $54,000. Park Place Capital Corp grew its stake in shares of Penumbra by 1,473.9% in the third quarter. Park Place Capital Corp now owns 362 shares of the company’s stock valued at $70,000 after acquiring an additional 339 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in Penumbra by 1,845.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 389 shares of the company’s stock worth $70,000 after acquiring an additional 369 shares during the period. Finally, Headlands Technologies LLC bought a new stake in Penumbra in the 1st quarter valued at about $89,000. 88.88% of the stock is currently owned by institutional investors and hedge funds.

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.