Welcome to our dedicated page for Penumbra news (Ticker: PEN), a resource for investors and traders seeking the latest updates and insights on Penumbra stock.
Penumbra, Inc. (NYSE: PEN) is a global healthcare company headquartered in Alameda, California, specializing in innovative interventional therapies. The company is renowned for developing and marketing medical devices aimed at treating complex medical conditions with significant unmet clinical needs. Penumbra's product portfolio includes neurovascular and peripheral vascular devices, which are primarily used by specialist physicians in hospitals.
Penumbra's neurovascular product line, which generates the majority of the company's revenue, includes technologies for neurovascular access, ischemic stroke treatment, neurovascular embolization, and neurosurgical tools. The peripheral vascular segment offers solutions for peripheral embolization and peripheral thrombectomy. These devices are designed to improve clinical outcomes, reduce procedural times and enhance patient safety, contributing to overall healthcare cost savings.
The company's innovations are supported by a strong commitment to clinical research. Notable achievements include the recent STRIKE-PE study results, which demonstrated the safety and efficacy of Penumbra's Indigo® Aspiration System with Lightning™ technology for treating pulmonary embolism (PE). This computer-assisted vacuum thrombectomy (CAVT) system significantly improved clinical and functional outcomes, such as reduced right heart strain and enhanced patient mobility.
Penumbra's financial performance reflects its robust market presence. For the third quarter of 2023, the company reported revenues of $270.9 million, a 26.8% increase compared to the previous year. The U.S. market accounted for 72% of this revenue, driven by strong sales of thrombectomy products. Gross profits rose to $177.7 million, highlighting the company's ability to leverage its product mix and production efficiencies.
Looking ahead, Penumbra remains focused on expanding its product portfolio and geographic presence. Recent milestones include the launch of Lightning Flash™ 2.0, an advanced CAVT system designed for faster thrombus removal with minimal blood loss. The company also started enrolling patients in the STORM-PE trial, a groundbreaking study comparing CAVT to standard anticoagulation therapy for PE treatment.
Penumbra's strategic vision includes continuous innovation, strengthening partnerships, and expanding its footprint in existing and new markets. The company supports healthcare providers in over 100 countries, ensuring a broad impact on global health outcomes through its cutting-edge medical technologies.
Penumbra, Inc. (NYSE: PEN) reported robust financial results for Q4 and the full year 2022. Q4 revenue reached $221.2 million, an 8.4% increase year-over-year, while total annual revenue for 2022 was $847.1 million, a 13.3% rise. US revenue grew to $157.1 million in Q4 and $591.7 million for the year. Gross profit for Q4 was $138.4 million, reflecting a gross margin of 62.6%. Penumbra anticipates 2023 revenue will exceed $1 billion, indicating at least 18% growth. The company showed strong vascular product sales, with a 14.2% increase in Q4.
Penumbra, Inc. (NYSE: PEN) announced its upcoming presentation at Citi's 2023 Healthcare Services, Medtech, Tools & HCIT Conference on March 2, 2023, at 11:00 AM ET (8:00 AM PT). The event will feature insights from the management team focused on innovative healthcare solutions. A webcast of the presentation will be accessible via the investors' section of their website and will remain available for at least two weeks post-event. Penumbra is dedicated to developing therapies that address significant medical needs, operating globally in over 100 countries.
Penumbra, Inc. (NYSE: PEN) has scheduled a conference call to discuss its fourth quarter and full year 2022 financial results on February 23, 2023, at 4:30 PM Eastern Time. A press release detailing the results will be issued after market close that same day. The call will be accessible via phone or a webcast on the company's website, with a recording available for two weeks after the event. Penumbra focuses on innovative medical therapies and supports healthcare providers globally.
Penumbra, Inc. (NYSE: PEN) has launched the Lightning Flash™, a cutting-edge mechanical thrombectomy system, following FDA clearance. This system features innovative Lightning Intelligent Aspiration technology with dual clot detection, enhancing the efficiency of removing blood clots in venous and pulmonary areas. The device employs advanced catheter design, promising improved patient outcomes and safety. Lightning Flash is part of Penumbra's Indigo System and aims to transform the standard of care in thrombectomy, benefiting a broad spectrum of patients.
Penumbra, Inc. (NYSE: PEN) will present at the 41st Annual J.P. Morgan Healthcare Conference on January 9, 2023, at 1:30 PM ET. The conference is a key event in the healthcare sector, gathering influential industry leaders and investors.
A webcast of the presentation will be accessible on the company's website for two weeks post-event. Based in Alameda, California, Penumbra is known for its innovative therapies addressing critical healthcare needs globally.
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.
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