Company Reports

Penumbra reported second-quarter revenue of $390 million, a reported increase of 15% year over year. Quarterly spending on selling, general, and administrative expenses rose 24%, which drove operating margin down by 150 basis points, compared with the prior-year period.

After having navigated the challenges as a smaller, emerging competitor to break into therapeutic markets that are dominated by larger competitors, Penumbra is now set to be acquired by Boston Scientific by end of 2026. By focusing on creating innovative devices for use in endovascular systems to address blood clots and aneurysms, over the last 20 years Penumbra has carved out a small but growing presence and competes directly with Stryker, Medtronic, and Terumo globally.

Penumbra recently received US Food and Drug Administration approval and the CE Mark for its Thunderbolt computer-assisted vacuum aspiration system for ischemic stroke.

After having navigated the challenges as a smaller, emerging competitor to break into therapeutic markets that are dominated by larger competitors, Penumbra is now poised to be acquired by Boston Scientific by end of 2026. By focusing on creating innovative devices for use in endovascular systems to address blood clots and aneurysms, over the last 20 years Penumbra has carved out a small but growing presence and competes directly with Stryker, Medtronic, and Terumo globally.

After having navigated the challenges as a smaller, emerging competitor to break into therapeutic markets that are dominated by larger competitors, Penumbra is now poised to be acquired by Boston Scientific in 2026. By focusing on creating innovative devices for use in endovascular systems to address blood clots and aneurysms, over the last 20 years Penumbra has carved out a small but growing presence and competes directly with Stryker, Medtronic, and Terumo globally.

Penumbra reported fourth-quarter results that included 21% revenue growth (in constant currency), with roughly equal strength in the US and international markets. The firm also improved gross margin by 120 basis points year over year.

Boston Scientific announced its impending acquisition of Penumbra for roughly $14.5 billion, which translates into $374 per share, to be financed by a combination of Boston's cash and shares.

Penumbra delivered third-quarter results that featured revenue and net income growth of 17% (in constant currency) and 35%, respectively. The firm recently shared favorable data from its landmark study on computer assisted vacuum thrombectomy, or CAVT, for pulmonary embolism.

We initiate coverage on Penumbra, a smaller emerging medical device maker that is focused on endovascular solutions, such as mechanical thrombectomy and embolization, to treat ischemic stroke, deep vein thrombosis, and cranial aneurysms.

Despite the challenges for a smaller, emerging competitor to break into therapeutic markets that are dominated by larger competitors, Penumbra has demonstrated that it can be done. By focusing on creating innovative devices for use in endovascular systems to address blood clots and aneurysms, over the last 20 years Penumbra has carved out a small but growing presence and competes directly with Stryker, Medtronic, and Terumo globally.