The company might just be the right kind of business operating at the right time in history. Veteran medical device maker Penumbra (PEN 4.55%) got a shot of good news on Wednesday. An analyst initiated coverage of the company's stock with a rather bullish review, and investors took this to heart. Collectively, they pushed Penumbra's share price up by almost 5% on a day when the S&P 500 index performed sluggishly with a 0.3% decline. Initiated with a buy recommendation Just after market close on Tuesday, Sti ...

Alameda, CA-based Penumbra, Inc. (PEN) has secured the CE Mark in Europe for its newest computerassisted vacuum thrombectomy (CAVT) technologies, Lightning Flash 2.0 and Lightning Bolt 7. Lightning Flash 2.0 is the most advanced mechanical thrombectomy system available to address venous and pulmonary thrombus while the Lightning Bolt 7 stands out as the most powerful arterial thrombectomy system in the market. The latest innovations further enhance the company's neuro and vascular portfolios. Likely Trend o ...

A month has gone by since the last earnings report for Penumbra (PEN) . Shares have added about 20% in that time frame, outperforming the S&P 500. Will the recent positive trend continue leading up to its next earnings release, or is Penumbra due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts. Penumbra Q2 Earnings Miss, Gross Margin Contracts Penumbra ...

ALAMEDA, Calif., Aug. 27, 2024 /PRNewswire/ -- Penumbra, Inc. (NYSE: PEN) today announced that its management team is scheduled to present at the Baird Global Healthcare Conference on Tuesday, September 10, 2024. Event: Baird Global Healthcare Conference Date: Tuesday, September 10, 2024 Time: 9:05am ET/6:05am PT A webcast of the presentation can be accessed on the "Events and Presentations" section under the "Investors" tab of the company's website at www.penumbrainc.com. The webcast will be available on t ...

ALAMEDA, Calif., Aug. 21, 2024 /PRNewswire/ -- Penumbra, Inc. (NYSE: PEN) today announced that its management team is scheduled to present at the Wells Fargo Healthcare Conference on Wednesday, September 4, 2024. Event: Wells Fargo Healthcare Conference Date: Wednesday, September 4, 2024 Time: 2:15pm ET/11:15am PT A webcast of the presentation can be accessed on the "Events and Presentations" section under the "Investors" tab of the company's website at www.penumbrainc.com. The webcast will be available on ...

asikkk/iStock via Getty Images Penumbra (NYSE:PEN) is a leader in the field of medical technology, with both vascular and neurological devices making a big splash in the improvement of care. The stock has been volatile over the past few years, with a peak of $340 in late June 2023 making way to a low of $148 recently. Now the shares are intriguing at $191/share as excitement for the new Lightning Flash and Thunderbolt are continuing to help drive revenue growth. They are both computed assisted vacuum thromb ...

To Include $100 Million Accelerated Share Repurchase ALAMEDA, Calif., Aug. 13, 2024 /PRNewswire/ -- Penumbra, Inc. (NYSE: PEN), the world's leading thrombectomy company, today announced that its Board of Directors approved on August 5, 2024 a share repurchase authorization in the amount of up to $200 million, allowing Penumbra to repurchase its common stock from time to time at such prices as it deems appropriate through open market purchases, block transactions, privately negotiated transactions, including ...

ALAMEDA, Calif., Aug. 2, 2024 /PRNewswire/ -- Penumbra, Inc. (NYSE: PEN) today announced that its management team is scheduled to present at the Canaccord Genuity Growth Conference on Tuesday, August 13, 2024. Event: Canaccord Genuity Growth Conference Date: Tuesday, August 13, 2024 Time: 9:00am ET/6:00am PT A webcast of the presentation can be accessed on the "Events and Presentations" section under the "Investors" tab of the company's website at www.penumbrainc.com. The webcast will be available on the co ...

Core Insights - Penumbra reported revenue of $299.4 million for the quarter ended June 2024, reflecting a year-over-year increase of 14.5% [8] - The earnings per share (EPS) for the same quarter was $0.64, up from $0.43 in the previous year, indicating a strong performance [8] - The revenue surprise was +0.28% over the Zacks Consensus Estimate of $298.58 million, while the EPS surprise was +14.29% compared to the consensus estimate of $0.56 [2] Revenue Performance - The revenue from the Embolization and Access segment was reported at $81.22 million, exceeding the average estimate of $74.90 million by two analysts, representing an 8.7% increase year-over-year [4] - Revenue from the Thrombectomy segment was $95.90 million, slightly below the average estimate of $98.62 million based on four analysts [5] - Overall revenue performance showed a year-over-year change of +16.8% compared to the two-analyst average estimate of $223.85 million, which was reported at $218.18 million [3] Market Performance - Over the past month, Penumbra shares have returned +0.7%, outperforming the Zacks S&P 500 composite's +0.1% change [7] - The stock currently holds a Zacks Rank 2 (Buy), suggesting potential for outperformance in the near term [7]

Financial Data and Key Metrics Changes - Total revenue for Q2 2024 was $299.4 million, a year-over-year increase of 14.5% as reported and 14.7% on a constant currency basis [15][35] - Non-GAAP gross margin expanded to 65.5%, up 170 basis points year-over-year [16][42] - Non-GAAP operating income was $31.7 million, representing 10.6% of revenue, an increase of 280 basis points year-over-year [16][44] - Adjusted EBITDA was $46.3 million or 15.5% of total revenue compared to 14.6% in the same quarter last year [45] Business Line Data and Key Metrics Changes - U.S. thrombectomy revenue grew 25% year-over-year to $153.7 million, with a 29.8% increase in the first half of 2024 [15] - International thrombectomy revenue was $49.8 million, growing 26% year-over-year [15] - Global embolization and access revenue declined slightly to $95.9 million, but improved sequentially by 5% [16][41] Market Data and Key Metrics Changes - U.S. region reported growth of 16.8%, driven by 24.9% growth in the thrombectomy franchise [39] - International regions increased 8.7% reported and 9.4% in constant currency, primarily driven by thrombectomy revenue growth [39] Company Strategy and Development Direction - The company is transitioning from focusing solely on treatable patients to addressing the majority of the 125 million annual thrombectomy patients in the U.S. over the next five-plus years [18] - The launch of new products, including Flash 2.0 and Lightning Bolt, is expected to enhance market share and growth in both U.S. and international markets [33][75] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's innovation and market position, anticipating continued growth in thrombectomy, arterial, and stroke markets in 2025 [32][33] - The company is taking a more conservative approach to guidance, reflecting a more complex business environment with multiple variables [54][92] Other Important Information - A one-time non-cash accounting charge of $110.3 million was taken for the Immersive Healthcare business, with expectations to reduce ongoing operating expenses by over $20 million [36][31] - The company ended Q2 with cash and marketable securities of $339.7 million and no debt, indicating strong operational profitability [46] Q&A Session Summary Question: Can you elaborate on the new guidance philosophy? - Management acknowledged the evolution of the company and the need for a more conservative guidance approach due to increased complexity in operations [52][54] Question: What are the expectations for U.S. thrombectomy growth in 2025? - Management refrained from providing specific quantitative guidance but indicated optimism based on the absence of transient headwinds and new product launches [56][58] Question: What drove the strong OUS thrombectomy numbers? - Management noted that the OUS thrombectomy business performed within expected ranges without any unique factors impacting the quarter [72] Question: How do you plan to address competitive dynamics? - Management emphasized the importance of product safety and effectiveness, noting that physicians are increasingly recognizing these factors in their treatment choices [95][96]