Penumbra Inc Stock Price, News & Analysis

Penumbra, Inc. (NYSE: PEN) reported a 23.2% increase in revenue for Q1 2021, totaling $169.2 million compared to $137.3 million in Q1 2020. Revenue from vascular products surged 50.5%, reaching $89.2 million, while neuro products saw a modest 2.5% growth to $80 million. Gross profit improved to 65.8% of total revenue. Operating expenses rose to $97.9 million, but the operating income increased significantly to $13.5 million. The company boosted its full-year revenue guidance to $695 million to $705 million, indicating a growth of 24% to 26%.

Penumbra, Inc. (NYSE: PEN) announced its management will present at the BofA Securities 2021 Virtual Health Care Conference on May 11, 2021, at 11:45 am ET. A webcast of this presentation will be available on the company’s website for at least two weeks post-event. As a global healthcare company, Penumbra focuses on innovating therapies and has a broad portfolio addressing significant medical conditions. Interested parties can access the webcast via www.penumbrainc.com.

Penumbra, Inc. (NYSE: PEN) has announced a conference call to discuss its financial results for Q1 2021, scheduled for May 4, 2021, at 4:30 PM ET. The results will be released after market close on the same day. Investors can join the call by dialing (833) 350-1434 or accessing the webcast on the company’s website. Further information about Penumbra, a global healthcare company focused on innovative therapies, can be found on its website.

Penumbra, Inc. (NYSE: PEN) has launched the Indigo® System Lightning™ 7, enhancing its Indigo Aspiration System for arterial thrombus removal. This new device combines the CAT™7 Aspiration Catheter with Lightning Intelligent Aspiration technology, enabling effective single-session clot extraction. Key features include optimized thrombus detection and reduced blood loss. CEO Adam Elsesser emphasized the technology's potential to improve patient outcomes and reduce ICU demands. The Indigo System is indicated for treating fresh emboli and thrombi in peripheral vessels and pulmonary embolism.

Penumbra, Inc. (NYSE: PEN) reported its fourth quarter and full-year financial results for 2020, revealing a 14.9% increase in quarterly revenue to $166.9 million and a full-year revenue of $560.4 million, up 2.4% year-over-year. Excluding a voluntary recall, quarterly revenue was $172.7 million, an 18.9% rise. However, a 6.6% decline in neuro product sales was noted. Operating loss for the fourth quarter stood at $1.7 million, but excluding one-time impacts, non-GAAP operating income was $16.6 million. For 2021, Penumbra projects revenue growth of 20% to 22%.

Penumbra, Inc. (NYSE: PEN) announced its management team will present at Citi's 2021 Healthcare Services, Medtech, Tools, & HCIT Virtual Conference on February 24, 2021, at 3:20 PM ET. The event aims to showcase innovative therapies and products developed by Penumbra.

A webcast of the presentation will be accessible on their website for at least two weeks post-event. Penumbra, headquartered in Alameda, California, specializes in innovative medical solutions, catering to significant unmet healthcare needs.

Penumbra, Inc. (NYSE: PEN) announced a conference call to discuss its fourth quarter and full year 2020 financial results scheduled for February 23, 2021 at 4:30 PM ET. A press release will be issued after market close that day detailing the financial metrics. The call can be accessed via phone or live webcast on the company's website. Penumbra focuses on innovative therapies, selling products to hospitals and healthcare providers in various regions, including the U.S. and Europe.

Penumbra, Inc. (NYSE: PEN) released preliminary revenue results for Q4 and FY 2020, highlighting a projected fourth quarter revenue of $162.5 to $167.9 million, reflecting a 12% to 16% increase year-over-year. Excluding a voluntary recall impact, non-GAAP revenue for Q4 is estimated at $172.5 to $172.9 million, a 19% growth. Full-year revenue is expected between $556.0 and $561.4 million, up 2% to 3% from 2019. Vascular product sales are projected to grow significantly, while neuro product sales are estimated to decline by 11% to 13% for the year.

Penumbra recalls JET 7 Xtra Flex Catheters on December 15, 2020, due to susceptibility to distal tip damage. This issue may lead to potential vessel damage and serious patient injury or death during use. The company advises healthcare professionals to review the full recall advisory on their website. They will also hold a conference call on the same day to discuss details surrounding this voluntary recall, which could impact their market reputation and financial stability.