Penumbra Inc Stock Price, News & Analysis

Penumbra, Inc. (NYSE: PEN) has unveiled the REAL y-Series™, the first hands-free, non-tethered virtual reality rehabilitation platform. This innovative product addresses both upper and lower extremities using sensors that allow real-time tracking of full body movement. Designed to enhance patient engagement, its customizable exercises can support over 50 million rehabilitation patients in the U.S. The demand for advanced rehabilitation solutions is underscored by a recent survey revealing that nearly 75% of physical therapists cite patient compliance as a major challenge, while 65% are eager to use VR technologies.

Penumbras, Inc. (NYSE: PEN) announced a 12.4% increase in third-quarter revenue, totaling $213.7 million, compared to $190.1 million in Q3 2021. Revenue from vascular products rose by 17.0% to $123.4 million, while neuro product sales increased by 6.7% to $90.3 million. Gross profit was $135.3 million with a gross margin of 63.3%. The company updated its 2022 revenue guidance to $840-$845 million, reflecting 12-13% growth. Despite strong performance, the Lightning Flash product launch is delayed to Q1 2023, impacting short-term revenue expectations.

Penumbra, Inc. (NYSE: PEN) will present at the Jefferies London Healthcare Conference on November 15, 2022, at 9:10 AM GMT / 1:10 AM PT. The presentation will be accessible via an audio webcast on their website for at least two weeks following the event. This healthcare company focuses on innovative therapies and supports providers in over 100 countries. For more details, visit www.penumbrainc.com.

Penumbra, Inc. (NYSE: PEN) has scheduled a conference call on November 3, 2022, at 4:30 PM ET to discuss its third quarter 2022 financial results. The earnings release will be made available after market close on the same day. Interested parties can access the call by dialing (888) 330-2443 or via the webcast on the company's website. Penumbra focuses on innovative therapies and has a significant presence in over 100 countries, supporting healthcare providers with its broad product portfolio.

Penumbra, Inc. (NYSE: PEN) has announced a collaboration with Asahi Intecc Co. to introduce the Indigo™ Aspiration System in Japan after gaining regulatory approval. This advanced peripheral mechanical thrombectomy technology targets blood clot removal in arterial and venous systems, addressing conditions like acute limb ischemia and pulmonary embolism. The system features cutting-edge Lightning technology, designed to differentiate between clot and blood, minimizing blood loss during procedures. This partnership aims to enhance patient care and meet the increasing medical needs in Japan.

Penumbra, Inc. (NYSE: PEN) announced the European launch of its RED® Reperfusion Catheters following CE Mark approval. These catheters, part of the Penumbra System®, are designed for mechanical thrombectomy in acute ischemic stroke patients. Initial data from the INSIGHT Registry revealed a 68.9% first-pass revascularization success rate across all clot types. The RED catheters feature advanced trackability and aspiration technologies, enhancing their effectiveness. This expansion aims to improve treatment options for stroke patients in Europe, enabling faster and more efficient clot removal.

Penumbra, Inc. (NYSE: PEN) announced promising results from its initial INSIGHT Registry data, revealing that its RED^® reperfusion catheters achieved a first-pass revascularization rate of 68.9% in acute ischemic stroke patients. Additionally, findings from the COMPLETE study indicate that the Penumbra System effectively treats patients with tandem lesions and those in the late treatment window, with successful revascularization rates of 89% for tandem lesions and 83.2% for late window patients. These data were presented at the 2022 WFITN conference in Kyoto, Japan.

Penumbra, Inc. (NYSE: PEN), located in Alameda, California, has announced participation in two upcoming investor conferences. The company will present at the 2022 Wells Fargo Securities Healthcare Conference on September 7, 2022, at 9:45 AM ET and at the Morgan Stanley Global Healthcare Conference on September 13, 2022, at 12:20 PM ET. Webcasts will be available on their investor website for two weeks following the events.

Penumbra, Inc. (NYSE: PEN) reported Q2 2022 revenue of $208.3 million, marking a 13.1% increase from Q2 2021. Revenue growth was strong in vascular products, up 22.7% to $123.5 million, while neuro products grew 1.5% to $84.8 million. Gross profit was $134.0 million with a margin of 64.3%. However, total operating expenses rose significantly to $134.2 million, impacting profitability. The company maintains its full-year revenue guidance of $860 million to $875 million, expecting growth of 15-17% on a constant currency basis.