Manufacturing CostsManagement expects higher Thrombectomy product mix to be offset by higher manufacturing investments to support new product launches, which is expected to drive Q2/25 GM to be similar/lower than Q1/25.
Price Target ChallengesPEN's relative premium to profitable peers now sits at a fairly steep level, making it tough to lift the price target despite being a best-in-class innovator.
Revenue GuidanceDespite earlier growth of 17% in the first quarter, management is comfortable with a conservative revenue growth guidance of 12-14%, indicating confidence in stable performance.