Overview

• Penumbra Q3 revenue grows 17.8% yr/yr, beating analyst expectations

• Net income for Q3 was $45.9 mln, reflecting improved operational performance

• Company's U.S. thrombectomy revenue grows 18.5%, driven by product sales

Outlook

• Company raises 2025 revenue guidance to $1.375 bln to $1.380 bln

• Company maintains U.S. Thrombectomy growth guidance at 20% to 21%

• Penumbra keeps full-year gross and operating margin guidance unchanged

Result Drivers

• U.S. THROMBECTOMY SALES - U.S. thrombectomy revenue grew 18.5% driven by product sales

• EMBOLIZATION PRODUCT GROWTH - U.S. embolization and access products increased by 29.2%

• GROSS MARGIN IMPROVEMENT - Gross margin improved due to favorable product mix and productivity

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 17 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the medical equipment, supplies & distribution peer group is "buy"

• Wall Street's median 12-month price target for Penumbra Inc is $320.00, about 26.5% above its November 4 closing price of $235.08

• The stock recently traded at 49 times the next 12-month earnings vs. a P/E of 56 three months ago

Press Release: ID:nPn739wV9a

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)