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 described in its public communications as the world’s leading thrombectomy company, with a portfolio focused on computer assisted vacuum thrombectomy (CAVT™) and related devices for serious vascular and neurovascular conditions. The Penumbra news feed on this page aggregates company announcements, clinical trial updates and capital markets communications that shape how investors and clinicians follow the PEN stock story.
Recent news includes the announcement of a definitive Agreement and Plan of Merger with Boston Scientific Corporation, under which a Boston Scientific subsidiary will merge with and into Penumbra, leaving Penumbra as a wholly owned subsidiary if the transaction closes. The joint press release details the planned cash-and-stock consideration and notes that, upon completion, Penumbra’s securities are expected to be delisted from the New York Stock Exchange and deregistered under the Securities Exchange Act of 1934.
Beyond M&A developments, Penumbra’s news flow features earnings releases and preliminary financial updates furnished via Form 8-K, outlining revenue trends, margins and non-GAAP measures such as constant currency revenue and adjusted EBITDA. These items provide context on the company’s operating performance and financial outlook as it continues to develop and commercialize thrombectomy and embolization technologies.
Penumbra also issues news around clinical research milestones. Notable examples include results from the pivotal STORM-PE randomized controlled trial, which evaluated CAVT using Penumbra’s Lightning Flash™ plus anticoagulation versus anticoagulation alone in acute intermediate-high risk pulmonary embolism. Company press releases describe superior reductions in right heart strain, thrombus burden and improvements in functional outcomes for patients treated with CAVT plus anticoagulation, with comparable safety profiles between treatment arms.
Additional news items cover leadership changes and investor relations activities, such as the appointment of a new company president and scheduled presentations at healthcare and investor conferences, including the J.P. Morgan Healthcare Conference and other sector events. These updates highlight how Penumbra’s management communicates with the investment community and discusses its clinical and commercial strategy.
By following this PEN news page, readers can review a consolidated stream of Penumbra’s press releases, transaction announcements, clinical trial disclosures and financial updates, all of which are sourced from official company communications and SEC-related materials.
On April 25, 2023, Penumbra, Inc. (NYSE: PEN) announced its participation in two upcoming investor conferences:
- Bank of America Securities 2023 Health Care Conference
Date: May 9, 2023
Time: 1:40 PM ET / 10:40 AM PT - 2023 RBC Capital Markets Global Healthcare Conference
Date: May 16, 2023
Time: 11:30 AM ET / 8:30 AM PT
Webcasts of these presentations will be accessible on Penumbra's investor relations website for at least two weeks post-event. With its headquarters in Alameda, California, Penumbra focuses on innovative therapies and has a diverse product portfolio addressing substantial medical needs in over 100 countries.
Penumbra, Inc. (NYSE: PEN) has announced a conference call to discuss its financial results for the first quarter of 2023. The call is scheduled for May 2, 2023, at 4:30 PM Eastern Time, following the release of the financial results after market close. Investors can access the conference call by dialing (888) 330-2443 or via a live webcast on Penumbra's website. The company is focused on innovative therapies and operates in more than 100 countries, addressing significant unmet medical needs.
Penumbra has announced a three-year collaboration with the Veterans Health Administration (VHA) to develop and implement virtual reality solutions for rehabilitation. This partnership aims to enhance therapy accessibility, focusing on veterans' needs, including remote rehabilitation. The collaboration will utilize Penumbra's REAL y-Series platform, a hands-free, multi-disciplinary VR rehabilitation tool. The technology targets both neurorehabilitation and chronic condition management. The REAL system is already active in facilities nationwide, addressing various rehabilitation goals.
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.
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