Penumbra (PEN) AI Stock Analysis

• Market Cap: $9.88B
• Dividend Yield: N/A
• Average Volume (3M): 462.07K
• Price to Earnings (P/E): 67.2
• Beta (1Y): 0.48
• Revenue Growth: 12.92%
• EPS Growth: 918.46%
• Country: US
• Employees: 4,500
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Devices
• EPS (TTM): 0.86
• Shares Outstanding: 38,999,130
• 10 Day Avg. Volume: 443,895
• 30 Day Avg. Volume: 462,074
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 1.00
• Enterprise Value/Revenue: 7.71
• Enterprise Value/Gross Profit: 11.60
• Enterprise Value/Ebitda: 50.95
• 1Y Price Target: $307.20
• Price Target Upside: 22.07% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 17

• Rating: 73 Outperform
• Price Target: $286.00 ▲(13.65% Upside)

Penumbra's strong financial performance and positive earnings call sentiment are the primary drivers of its overall stock score. However, the high P/E ratio and mixed technical indicators suggest caution. The company's robust growth in the U.S. thrombectomy business is a significant strength, but international challenges and valuation concerns temper the overall outlook.

Positive Factors

Revenue Growth

Consistent revenue growth indicates strong market demand for Penumbra's products, highlighting the company's ability to expand its market share and drive sales.

U.S. Thrombectomy Business

The robust growth in the U.S. thrombectomy business underscores Penumbra's competitive advantage and strong positioning in a key market segment.

Cash Flow Management

Efficient cash flow management ensures Penumbra can fund operations, invest in R&D, and pursue strategic initiatives without liquidity concerns.

Negative Factors

International Revenue Decline

Declining international revenue, especially in China, poses a risk to Penumbra's global expansion efforts and may impact overall growth.

Challenges in Neurovascular Business

Slower growth in the neurovascular business could limit Penumbra's ability to capitalize on market opportunities, affecting long-term revenue potential.

Gross Margin Sequential Decrease

A sequential decrease in gross margin may indicate pressure on profitability, potentially affecting Penumbra's ability to maintain cost efficiency.

Penumbra Business Overview & Revenue Model

Company Description

Penumbra, Inc. designs, develops, manufactures, and markets medical devices in the United States and internationally. The company offers aspiration based thrombectomy systems and accessory devices, including revascularization device for mechanical thrombectomy, such as Penumbra System under the Penumbra RED, JET, ACE, 3D Revascularization Device, and Penumbra ENGINE brands, as well as components and accessories; neurovascular embolization coiling systems to treat patients with various sizes of aneurysms and other neurovascular lesions under the Penumbra Coil 400, POD400, PAC400, and Penumbra SMART Coil brand names; and neurovascular access systems designed to provide intracranial access for use in a range of neurovascular therapies under the Neuron, Neuron MAX, Select, BENCHMARK, BMX96, DDC, and PX SLIM brands. It also provides neurosurgical aspiration tools for the removal of tissue and fluids under the Artemis Neuro Evacuation Device brand; aspiration-based thrombectomy systems for vascular applications under the Indigo System brand; and detachable embolic coil systems for peripheral embolization under the Ruby Coil and Ruby LP brand names. In addition, the company offers microcatheter for the delivery of detachable coils and occlusion devices under the LANTERN brand; and detachable, microcatheter-deliverable occlusion devices designed primarily to occlude peripheral vessels under the POD (Penumbra Occlusion Device) brand, as well as immersive computer-based technologies and immersive therapeutics to promote health, motor function, and cognition under the Real Immersive System brand; and a complementary device for use with Ruby Coil and POD for vessel occlusion under the Packing Coil and Packing Coil LP brands. The company sells its products through direct sales organizations and distributors. Penumbra, Inc. was incorporated in 2004 and is headquartered in Alameda, California.

How the Company Makes Money

Penumbra generates revenue through the sale of its medical devices, which are primarily used in hospitals and healthcare facilities for interventional procedures. The company's key revenue streams include the direct sales of its proprietary products, such as thrombectomy devices and other catheter-based interventions. Additionally, Penumbra engages in partnerships with hospitals and healthcare systems to provide comprehensive training and support for its products, further driving sales. The company also benefits from recurring revenue through the sale of disposables and accessories associated with its devices, which are necessary for their operation. Furthermore, ongoing investments in research and development enable Penumbra to expand its product offerings and enter new markets, contributing to its overall earnings.

Penumbra Financial Statement Overview

Summary

Penumbra's financial performance is impressive, with strong revenue growth, improved profitability, and efficient cash management. The company's balance sheet is solid with low leverage, and its cash flow metrics underline robust operational cash generation. Overall, Penumbra's financial health is strong, with consistent improvements across key financial metrics.

Income Statement

Penumbra has shown strong revenue growth, with a TTM revenue increase of 7.2% over the previous year. The gross profit margin is solid at 66.5%, indicating efficient cost management. Net profit margin has improved to 11.5%, reflecting better profitability. EBIT and EBITDA margins also show significant improvement, suggesting enhanced operational efficiency.

Balance Sheet

The company's balance sheet shows a healthy equity ratio of 77.2%, suggesting a strong capital structure with low leverage. The debt-to-equity ratio stands at 0.17, indicating prudent debt management. Return on Equity (ROE) has improved, demonstrating effective use of equity capital to generate profits.

Cash Flow

Penumbra has a robust free cash flow growth rate of 9.7% TTM, indicating strong cash generation capabilities. The operating cash flow to net income ratio is 1.36, highlighting efficient cash conversion from earnings. The free cash flow to net income ratio of 1.09 further supports solid cash flow management.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	1.28B	1.19B	1.06B	847.13M	747.59M	560.41M
Gross Profit	850.92M	755.00M	682.64M	535.21M	475.38M	338.18M
EBITDA	193.66M	45.99M	108.65M	29.96M	7.84M	-26.05M
Net Income	147.70M	14.01M	90.95M	-2.00M	5.28M	-15.70M
Balance Sheet
Total Assets	1.67B	1.53B	1.56B	1.37B	1.24B	822.98M
Cash, Cash Equivalents and Short-Term Investments	421.77M	340.13M	289.19M	188.03M	254.88M	264.83M
Total Debt	220.53M	223.39M	234.34M	235.77M	173.55M	77.28M
Total Liabilities	380.86M	382.25M	377.36M	372.03M	290.32M	185.19M
Stockholders Equity	1.29B	1.15B	1.18B	998.86M	953.93M	641.50M
Cash Flow
Free Cash Flow	161.62M	147.30M	82.12M	-74.96M	-11.68M	-58.00M
Operating Cash Flow	201.49M	168.48M	97.33M	-55.66M	9.50M	-33.24M
Investing Cash Flow	8.68M	77.62M	-16.08M	54.79M	-21.73M	-104.15M
Financing Cash Flow	-76.96M	-87.01M	16.20M	11.62M	836.00K	134.92M

Penumbra Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 251.65
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PEN, the sentiment is Negative. The current price of 251.65 is below the 20-day moving average (MA) of 265.28, below the 50-day MA of 254.90, and below the 200-day MA of 263.23, indicating a bearish trend. The MACD of -2.52 indicates Positive momentum. The RSI at 41.20 is Neutral, neither overbought nor oversold. The STOCH value of 27.89 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for PEN.

Penumbra Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
GMED	76 Outperform	$7.52B	21.50	8.30%	―	17.43%	775.48%
PEN	73 Outperform	$9.88B	67.18	12.03%	―	12.92%	918.46%
IRTC	66 Neutral	$5.49B	-58.18	-89.17%	―	22.37%	31.14%
LIVN	61 Neutral	$2.92B	-13.73	-18.82%	―	8.57%	-1154.64%
GKOS	52 Neutral	$4.58B	-48.23	-12.13%	―	26.70%	48.19%
PRCT	50 Neutral	$2.04B	-23.55	-21.81%	―	55.71%	24.37%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%

Penumbra Corporate Events

Penumbra Appoints Shruthi Narayan as New President

On August 22, 2025, Penumbra, Inc. appointed Shruthi Narayan as President, effective September 1, 2025. Ms. Narayan, who joined Penumbra in 2013, has been instrumental in building the company’s peripheral vascular division and commercializing its vascular portfolio globally. Her appointment is expected to sustain Penumbra’s growth and market leadership in the medical device industry, particularly in thrombectomy technologies. Adam Elsesser will continue as Chairman and CEO, while Ms. Narayan’s leadership is anticipated to expand access to Penumbra’s life-saving technology worldwide.

Penumbra Amends Incorporation Certificate After Stockholder Vote

On May 28, 2025, Penumbra, Inc. filed an Amended and Restated Certificate of Incorporation with the State of Delaware, following stockholder approval at its Annual Meeting. During the meeting, stockholders voted on several proposals, including the election of Class I directors, ratification of PricewaterhouseCoopers LLP as the independent auditor, and approval of executive compensation. Additionally, amendments to the company’s charter were approved to phase in board declassification and eliminate supermajority voting requirements, reflecting significant governance changes aimed at enhancing corporate flexibility and shareholder influence.