Leerink Partnrs Has Bullish Outlook for Penumbra Q4 Earnings

Penumbra, Inc. (NYSE:PEN) – Equities research analysts at Leerink Partnrs raised their Q4 2024 earnings estimates for shares of Penumbra in a research report issued on Monday, November 25th. Leerink Partnrs analyst M. Kratky now forecasts that the company will earn $0.88 per share for the quarter, up from their prior forecast of $0.74. Leerink Partnrs currently 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.

Several other equities research analysts have also recently weighed in on PEN. BTIG Research upped their price objective on shares of Penumbra from $232.00 to $270.00 and gave the stock a “buy” rating in a research report on Tuesday. Stifel Nicolaus started coverage on shares of Penumbra in a report on Tuesday, September 17th. They set a “buy” rating and a $238.00 price target for the company. Canaccord Genuity Group lifted their price objective on shares of Penumbra from $176.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Needham & Company LLC restated a “hold” rating on shares of Penumbra in a research note on Thursday, October 31st. Finally, Truist Financial boosted their price target on Penumbra from $200.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Five investment 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 company. According to data from MarketBeat, Penumbra presently has an average rating of “Moderate Buy” and a consensus target price of $230.92.

Penumbra Stock Performance

PEN opened at $244.15 on Wednesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.25 and a current ratio of 5.82. Penumbra has a 52-week low of $148.00 and a 52-week high of $277.34. The firm has a market cap of $9.37 billion, a P/E ratio of 283.90, a price-to-earnings-growth ratio of 2.47 and a beta of 0.51. The business’s fifty day moving average is $214.90 and its 200-day moving average is $197.95.

Penumbra (NYSE:PEN) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.16. The business had revenue of $301.04 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.67 earnings per share.

Penumbra declared that its Board of Directors has initiated a stock buyback plan on Tuesday, August 13th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 2.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Activity

In other Penumbra news, EVP Johanna Roberts sold 600 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $239.74, for a total value of $143,844.00. Following the sale, the executive vice president now owns 64,044 shares in the company, valued at approximately $15,353,908.56. The trade was a 0.93 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Adam Elsesser sold 15,000 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $197.71, for a total value of $2,965,650.00. Following the transaction, the chief executive officer now owns 882,582 shares of the company’s stock, valued at $174,495,287.22. This trade represents a 1.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,748 shares of company stock valued at $10,166,574. 5.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Penumbra

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Hawaiian Bank bought a new stake in shares of Penumbra in the 2nd quarter valued at $1,597,000. Tidal Investments LLC lifted its holdings in Penumbra by 276.9% in the first quarter. Tidal Investments LLC now owns 4,971 shares of the company’s stock valued at $1,109,000 after buying an additional 3,652 shares during the period. Renaissance Technologies LLC acquired a new stake in Penumbra during the 2nd quarter worth about $17,943,000. Thrivent Financial for Lutherans raised its position in shares of Penumbra by 3,832.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 368,298 shares of the company’s stock worth $71,564,000 after acquiring an additional 358,932 shares in the last quarter. Finally, Vontobel Holding Ltd. acquired a new position in shares of Penumbra in the 3rd quarter valued at about $1,092,000. Institutional investors and hedge funds 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.