Penumbra (PEN) Expected to Announce Earnings on Tuesday

Penumbra (NYSE:PEN) is anticipated to announce its earnings results after the market closes on Tuesday, February 18th. Analysts expect the company to announce earnings of $0.88 per share and revenue of $311.63 million for the quarter.

Penumbra Stock Performance

Penumbra stock opened at $267.42 on Thursday. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.82 and a quick ratio of 3.25. The company’s 50-day moving average is $253.82 and its 200 day moving average is $222.88. Penumbra has a 1-year low of $148.00 and a 1-year high of $277.89. The firm has a market capitalization of $10.26 billion, a P/E ratio of 310.95, a price-to-earnings-growth ratio of 1.92 and a beta of 0.53.

Analyst Ratings Changes

A number of research firms have weighed in on PEN. Canaccord Genuity Group increased their target price on Penumbra from $260.00 to $323.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Citigroup lifted their price objective on Penumbra from $220.00 to $245.00 and gave the company a “neutral” rating in a report on Wednesday, December 11th. Needham & Company LLC reiterated a “hold” rating on shares of Penumbra in a report on Thursday, October 31st. Piper Sandler upped their price target on shares of Penumbra from $235.00 to $250.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 20th. Finally, Robert W. Baird increased their price objective on shares of Penumbra from $244.00 to $248.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $261.36.

Insider Buying and Selling

In related news, Director Harpreet Grewal sold 167 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $241.28, for a total value of $40,293.76. Following the sale, the director now owns 8,530 shares in the company, valued at $2,058,118.40. This represents a 1.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Adam Elsesser sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $237.28, for a total transaction of $3,559,200.00. Following the transaction, the chief executive officer now directly owns 852,582 shares of the company’s stock, valued at $202,300,656.96. This represents a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,819 shares of company stock worth $8,129,483 in the last 90 days. Insiders own 5.00% of the company’s stock.

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.