Penumbra (PEN) AI Stock Analysis

• Market Cap: $8.91B
• Dividend Yield: N/A
• Average Volume (3M): 425.50K
• Price to Earnings (P/E): 213.0
• Beta (1Y): 0.65
• Revenue Growth: 12.92%
• EPS Growth: 918.46%
• Country: US
• Employees: 4,500
• Sector: Healthcare
• Sector Strength: 40
• Industry: Medical - Devices
• EPS (TTM): 0.86
• Shares Outstanding: 38,725,940
• 10 Day Avg. Volume: 473,889
• 30 Day Avg. Volume: 425,504
• PEG Ratio: 0.27
• Price to Book (P/B): 7.63
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 60.91
• Enterprise Value/Market Cap: 1.08
• Enterprise Value/Revenue: 1.98
• Enterprise Value/Gross Profit: 11.33
• Enterprise Value/Ebitda: 28.97
• 1Y Price Target: $312.29
• Price Target Upside: 22.85% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 17

• Rating: 75 Outperform
• Price Target: $286.00 ▲(12.51%Upside)

Penumbra's overall stock score of 75 reflects its strong financial performance and positive earnings call insights, highlighting robust revenue growth and successful market execution. However, the high valuation and mixed technical indicators temper the outlook, suggesting caution for potential investors.

Positive Factors

Earnings

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

Market Development

Penumbra has seen more strength on the pulmonary embolism side, indicating a strong market development in VTE with a positive outlook.

Product Launch

Thunderbolt is expected to be a material growth driver as it looks to take market share from competitors.

Negative Factors

Market Limitation

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.

Product Growth

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

Penumbra Business Overview & Revenue Model

Company Description

Penumbra, Inc. is a global healthcare company that designs, develops, manufactures, and markets innovative medical devices for the treatment of various medical conditions. The company operates primarily in the neuro and peripheral vascular sectors, providing minimally invasive solutions that address challenging medical conditions such as stroke and vascular diseases. Penumbra's core products include aspiration systems, thrombectomy devices, and embolization products, which are used by healthcare professionals to improve patient outcomes worldwide.

How the Company Makes Money

Penumbra generates revenue primarily through the sale of its medical devices to hospitals and healthcare providers. The company’s revenue model is based on direct sales and distribution partnerships, where it sells its products to end-users or through third-party distributors. Key revenue streams include the sales of neuro and peripheral vascular devices, each contributing significantly to the company’s overall earnings. Additionally, Penumbra collaborates with various healthcare institutions and invests in research and development to innovate and expand its product offerings, thus driving growth and maintaining a competitive edge in the medical device industry.

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: 254.21
• 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 254.21 is above the 20-day moving average (MA) of 238.14, above the 50-day MA of 251.47, and below the 200-day MA of 256.57, indicating a neutral trend. The MACD of -4.94 indicates Negative momentum. The RSI at 61.08 is Neutral, neither overbought nor oversold. The STOCH value of 42.79 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	80 Outperform	$13.69B	33.46	7.86%	2.42%	5.16%	56.79%
PODD	80 Outperform	$20.51B	53.68	37.92%	―	23.49%	71.25%
PEN	75 Outperform	$8.91B	213.05	12.03%	―	12.92%	918.46%
ALGN	74 Outperform	$14.92B	37.04	11.41%	―	0.56%	0.43%
GMED	69 Neutral	$7.32B	39.98	4.63%	―	32.26%	112.87%
BIO	58 Neutral	$6.89B	―	-27.51%	―	-2.46%	-637.11%
Sector *	52 Neutral	$7.47B	0.53	-62.70%	2.38%	14.92%	0.82%

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.