Penumbra (PEN) AI Stock Analysis

• Market Cap: $9.87B
• Dividend Yield: N/A
• Average Volume (3M): 478.50K
• Price to Earnings (P/E): 67.8
• Beta (1Y): 0.52
• Revenue Growth: 12.92%
• EPS Growth: 918.46%
• Country: US
• Employees: 4,500
• Sector: Healthcare
• Sector Strength: 53
• Industry: Medical - Devices
• EPS (TTM): 0.86
• Shares Outstanding: 38,999,130
• 10 Day Avg. Volume: 333,702
• 30 Day Avg. Volume: 478,498
• PEG Ratio: N/A
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: 1.00
• Enterprise Value/Revenue: 7.71
• Enterprise Value/Gross Profit: 11.60
• Enterprise Value/Ebitda: 53.82
• 1Y Price Target: $305.87
• Price Target Upside: 21.68% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 18

• Rating: 75 Outperform
• Price Target: $280.00 ▲(11.39% Upside)

Penumbra's strong financial performance and positive earnings call sentiment are the most significant factors contributing to its overall score. The company's robust revenue growth and improved profitability are key strengths. However, the high P/E ratio and challenges in international markets slightly offset these positives. Technical indicators suggest neutral momentum, neither significantly aiding nor hindering the stock's outlook.

Positive Factors

Financial Performance

PEN's 2Q25 revenue and EPS beat consensus and management raised their 2025 revenue guidance.

Product Innovation

Penumbra continues to focus on innovation, believing that its technology will be the competitive moat as the VTE field grows more competitive.

Salesforce Expansion

Penumbra has invested in a separate salesforce focused on peripheral embolization, hiring over 50 embolization reps and over 40 vascular specialists, to support its recent product, Ruby XL.

Negative Factors

Guidance Deceleration

Guidance increase raised questions about a second-half implied deceleration in U.S. throm.

Market Limitations

Investors are reminded that stroke growth is somewhat capped by the size of the end-market, meaning Thunderbolt will not have the benefit of a large TAM of patients already in the funnel.

Thrombectomy Growth

Thrombectomy growth slowed to 13% CC in 2Q25 from 21% CC in 1Q25.

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 exhibits strong financial performance with robust revenue growth, effective cost management, and a solid balance sheet. Profitability metrics are healthy, though there is room for improvement in operating margins. Cash flow generation is robust, supporting operational and strategic needs.

Income Statement

Penumbra's income statement demonstrates strong growth and profitability trends. The TTM revenue of $1.24 billion represents a substantial increase from prior years, indicating robust revenue growth. The gross profit margin stands at an impressive 63.5%, and the net profit margin at 3.4%, highlighting efficient cost management and profitability. However, the EBIT margin of 9.2% and EBITDA margin of 5.1% indicate room for improvement in operating efficiency.

Balance Sheet

The balance sheet shows a solid financial structure with a debt-to-equity ratio of 0.18, reflecting conservative leverage and financial stability. The equity ratio is strong at 76.1%, indicating a high proportion of equity financing and reduced financial risk. The return on equity (ROE) is modest at 3.5%, suggesting potential for enhanced profitability.

Cash Flow

Penumbra's cash flow statement is characterized by strong operational cash flow with a high operating cash flow to net income ratio of 4.24, indicating robust cash generation from operations. The free cash flow to net income ratio is 3.56, reflecting healthy cash surplus. The free cash flow growth rate of 2.06% is positive, though slightly modest, indicating stable cash generation.

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	183.35M	49.53M	112.00M	6.08M	7.84M	-22.34M
Net Income	147.70M	14.01M	90.95M	-2.00M	2.62M	-19.26M
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: Positive
• Last Price: 251.37
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PEN, the sentiment is Positive. The current price of 251.37 is above the 20-day moving average (MA) of 244.39, above the 50-day MA of 246.12, and below the 200-day MA of 259.70, indicating a neutral trend. The MACD of 3.01 indicates Negative momentum. The RSI at 60.13 is Neutral, neither overbought nor oversold. The STOCH value of 77.43 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for PEN.

Penumbra Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SNN	78 Outperform	$16.05B	32.62	9.20%	2.00%	6.28%	61.96%
PODD	76 Outperform	$23.05B	101.34	19.18%	―	25.99%	-40.46%
PEN	75 Outperform	$9.87B	67.80	12.03%	―	12.92%	918.46%
BIO	72 Outperform	$7.80B	24.56	4.59%	―	-0.33%	―
GMED	70 Outperform	$8.26B	23.44	8.62%	―	17.43%	775.48%
ALGN	63 Neutral	$10.42B	24.22	11.41%	―	0.56%	0.43%
Sector *	46 Neutral	C$209.14M	-0.30	-24.12%	3.18%	19.38%	-2.35%

Penumbra Corporate Events

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.

The most recent analyst rating on (PEN) stock is a Buy with a $232.00 price target. To see the full list of analyst forecasts on Penumbra stock, see the PEN Stock Forecast page.