Penumbra Q3 revenue beats estimates on thrombectomy growth

Overview

• US thrombectomy device maker's Q3 revenue rose 15.6%, beating analyst expectations

• Net income for Q3 declined year-over-year

Outlook

• Company will not provide financial guidance for full year 2026 due to pending acquisition

Result Drivers

• THROMBECTOMY GROWTH - Global thrombectomy revenue rose 18.1% year-over-year, with U.S. venous thromboembolism revenue up 26%

• EMBOLIZATION AND ACCESS - Global embolization and access revenue increased 10.8% year-over-year

• U.S. NEURO REVENUE - U.S. neuro revenue grew 19.3% from a year earlier

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 8 "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 $374.00, about 17.5% above its October 28 closing price of $318.31

• The stock recently traded at 55 times the next 12-month earnings vs. a P/E of 56 three months ago

Reuters Recommended Reads

• Oct 28 - Boston Scientific warns of tough 2027 on China pricing, heart-device weakness

• Oct 28 - Boston Scientific Q3 revenue beats estimates despite cybersecurity disruption

• Oct 28 - AxoGen Q3 revenue beats estimates on market expansion

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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.)