Penumbra Inc Stock Price, News & Analysis

Penumbra, Inc. (NYSE: PEN) has announced that its CEO will participate in a discussion with Bank of America on December 8, 2020, at 8:30 AM ET. The event will focus on the company's innovative healthcare therapies. An audio webcast will be accessible on the company’s website for at least two weeks post-event. Based in Alameda, California, Penumbra specializes in developing and marketing products addressing significant medical needs in healthcare markets worldwide.

Penumbra, Inc. (NYSE: PEN) received FDA 510(k) clearance for the expanded indications of its Indigo® Aspiration System, including the Lightning™ 12 catheter. This system is now approved for removing fresh emboli and thrombi from peripheral arteries and veins, and for treating pulmonary embolism (PE), a condition that has risen during the COVID-19 pandemic. Lightning 12's advanced technology improves clot detection and removal efficacy. The system was launched in July and is available for immediate use, aiming to reduce the need for thrombolytics and associated ICU stays.

Penumbra, Inc. (NYSE: PEN) has announced a partnership with RapidAI to enhance clinical decision-making for pulmonary embolism (PE) diagnosis. This collaboration aims to develop AI-driven modules that streamline triage and improve the interpretation of CT scans. The initiative is timely, considering the challenges posed by the COVID-19 pandemic. Penumbra's Indigo® System, recently launched for blood clot removal, aligns with its commitment to addressing unmet clinical needs. The partnership is expected to increase awareness and treatment options for PE, a critical healthcare issue.

Penumbra, Inc. (NYSE: PEN) announced its participation in the Canaccord Genuity Virtual MedTech & Diagnostics Forum on November 19, 2020, at 1:30 PM ET (10:30 AM PT). The event will showcase the company's innovative healthcare solutions. Interested parties can access a webcast of the presentation through the company's website, available for two weeks post-event. Penumbra specializes in designing and market-leading products for challenging medical conditions, primarily serving U.S., Europe, Canada, and Australia.

Penumbra, Inc. (NYSE: PEN) reported third-quarter 2020 financials, revealing a revenue increase of 8.3% to $151.1 million compared to the same period in 2019. US revenue surged 22% to $109.7 million. However, neuro product sales declined by 8.8%, totaling $75.9 million, while vascular product sales rose 33.6% to $75.2 million. Operating loss stood at $20.2 million, impacted by one-time personnel expenses related to the Lightning product launch. The ongoing COVID-19 pandemic continues to create uncertainty in business performance.

Penumbra, Inc. (NYSE: PEN) will hold a conference call on October 28, 2020, at 4:30 PM ET to discuss its Q3 2020 financial results. The call will occur after market close, and a press release with the financial results will be available at that time. This initiative highlights Penumbra's support for democracy by designating Election Day 2020 as a paid holiday for U.S. employees. Investors can access the call by phone or via a webcast on the company’s website.

Penumbra, Inc. (NYSE: PEN) announced that its management will present at the Morgan Stanley 18th Annual Global Healthcare Conference on September 17, 2020, at 10:15 AM EDT. The event will be accessible via a webcast on the company's investor website, available for two weeks post-event. Penumbra, headquartered in Alameda, California, specializes in innovative healthcare solutions, selling products to hospitals in the U.S., Europe, Canada, and Australia, among other regions.

Penumbra, Inc. (NYSE: PEN) announced its participation in the Wells Fargo 2020 Virtual Healthcare Conference on September 9, 2020, at 3:20 PM EDT. The presentation will showcase Penumbra's innovative healthcare solutions.

Investors can access the webcast on the company's website and it will be available for two weeks after the event. Penumbra is focused on developing and marketing advanced therapies for medical conditions, primarily selling its products in the U.S., Europe, Canada, and Australia.

Penumbra, Inc. (NYSE: PEN) reported a 21.7% decline in revenues to $105.1 million for Q2 2020 compared to Q2 2019. US revenue reached $78.0 million, down approximately 10% year-over-year. The company's gross profit was $64.9 million, reflecting a margin decrease to 61.8%. Total operating expenses rose to $82.6 million, leading to an operating loss of $17.6 million. The COVID-19 pandemic continues to impact business operations, and the company cannot reliably estimate future effects.