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), 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.
Penumbra, Inc. (NYSE: PEN) will present at the Canaccord Genuity 42nd Annual Growth Conference on August 10, 2022, at 8:30am ET. The event will be held in Alameda, California.
A webcast of the presentation will be accessible on the company's investor website for at least two weeks after the event. Penumbra is dedicated to innovative healthcare solutions, operating in over 100 countries.
Penumbra, Inc. (NYSE: PEN) will host a conference call to discuss its second quarter 2022 financial results on August 4, 2022, at 4:30 PM Eastern Time. The results will be released after market close on the same day. The conference call can be accessed via phone or through a webcast available on the company's website. Penumbra focuses on innovative therapies to meet significant unmet medical needs, supporting healthcare providers in over 100 countries.
Penumbras, Inc. (NYSE: PEN) reported Q1 2022 revenues of $203.9 million, reflecting a 20.5% increase from Q1 2021. Vascular product sales surged 37.7% to $122.8 million, while neuro product revenues grew modestly by 1.3% to $81.1 million. Despite revenue growth, the gross profit decreased to 62.5% of total revenue, down from 65.8% a year ago, impacted by rising labor and logistics costs. Operating expenses increased substantially to $131.5 million, resulting in an operating loss of $4.0 million for the quarter.
Penumbra, Inc. (NYSE: PEN) will present at the Bank of America Securities 2022 Healthcare Conference on May 10, 2022, at 4:40 PM PT / 7:40 PM ET. The event will provide insights into the company's innovative healthcare solutions and strategies. A webcast of the presentation will be available on Penumbra's website for two weeks post-event. Headquartered in Alameda, California, Penumbra designs and markets therapies addressing significant medical needs globally.
Penumbra, Inc. (NYSE: PEN) has launched its advanced Indigo Aspiration System technologies, Lightning 7 and Lightning 12, in Europe following CE Mark approval. These systems, focused on mechanical thrombectomy for removing blood clots in a single session, aim to enhance patient outcomes by differentiating between clot and blood to minimize blood loss. Physicians in Europe now have access to this innovative technology, which has already shown success in the U.S. market, potentially reducing ICU stays and improving care efficiency.
Penumbra, Inc. (NYSE: PEN) will host a conference call on May 3, 2022, at 4:30 PM ET to discuss its first-quarter 2022 financial results. A press release detailing these results will be issued after market close that day. Investors can access the call through a phone line or via a webcast on the company's website. Penumbra focuses on innovative healthcare solutions and operates in over 100 countries, creating products that address significant medical needs.
Penumbra, Inc. (NYSE: PEN) has launched the REAL Immersive System y-Series, expanding its virtual reality healthcare platform. This new offering enhances patient care with upgraded hardware and a broader activity library for rehabilitation therapy. The platform now addresses conditions affecting over 50 million patients in the U.S. The improved interface, TherapyView™, allows clinicians to customize therapy programs, engaging patients more effectively. The y-Series was showcased at the American Occupational Therapy Association Annual Conference in San Antonio, TX.
Penumbra, Inc. (NYSE: PEN) is set to present at the 21st Annual Needham Virtual Healthcare Conference on April 11, 2022, at 3:00 PM ET. The event will showcase Penumbra's innovative therapies and its commitment to addressing challenging medical conditions.
Investors can access the presentation via a webcast on the company's website, available for two weeks post-event. Penumbra operates globally, supporting healthcare providers in over 100 countries with a robust portfolio aimed at significant unmet medical needs.
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