Shares of medical equipment maker Penumbra (NYSE: PEN) jumped 7.39% in after-hours trading on Wednesday following the company's strong third quarter earnings report. Penumbra beat revenue expectations and raised its full-year guidance, signaling continued momentum in its business.

For Q3, Penumbra reported revenue growth of 17.8% year-over-year, exceeding analyst estimates. The company's key U.S. thrombectomy segment saw 18.5% growth, driven by strong product sales. Penumbra also posted improved profitability, with net income of $45.9 million reflecting enhanced operational performance. Based on the solid results, management raised its 2025 revenue guidance to a range of $1.375 billion to $1.380 billion.

Wall Street analysts remain bullish on Penumbra's prospects, with the stock carrying a consensus "buy" rating. The median 12-month price target of $320 implies over 26% upside from current levels. With its expanding product portfolio and improving financials, Penumbra appears well-positioned to capitalize on growth opportunities in the medical technology sector.