Penumbra Inc

Penumbra reported second-quarter 2026 financial results with GAAP earnings per share of $0.88 and total revenue of $390 million. Global thrombectomy revenue reached $259.0 million, a 12.5% increase from the second quarter of 2025, while global embolization and access revenue rose 20.0% to $131.1 million. Gross profit margin improved to 67.9%, up 1.9 percentage points year-over-year. Total operating expenses were $223.9 million, including $25.4 million in research and development and $198.5 million in selling, general and administrative costs, which contained $6.9 million in acquisition-related expenses tied to the pending acquisition of Penumbra by Boston Scientific Corporation. Income from operations was $41.0 million and net income was $34.8 million.

Penumbra is drawing attention after Novant Health reported successful use of its newly cleared THUNDERBOLT computer assisted vacuum thrombectomy system at a North Carolina comprehensive stroke center. The stock trades at $318.73, about 13% below the average analyst price target, with a popular narrative suggesting a fair value of roughly $363 and a 12.3% undervaluation. However, a Simply Wall St DCF model points to a fair value of $216.68, implying the stock is trading well above its estimated future cash flow value. The upcoming STORM PE randomized trial is expected to provide Level 1 evidence comparing Penumbra's thrombectomy technology to standard anticoagulation for pulmonary embolism, which could significantly expand guideline adoption and procedure volumes. Investors are weighing these conflicting valuation signals against risks including reliance on key franchises and rising competitive and regulatory pressure.

Penumbra received FDA clearance for its THUNDERBOLT computer-assisted vacuum thrombectomy system for acute ischemic stroke treatment. The clearance follows the THUNDER study, which reported strong safety and efficacy results for the device. A leading stroke center has already begun using THUNDERBOLT in clinical practice, expanding its real-world footprint. The system uses computer-assisted, modulated aspiration to automate part of the thrombectomy process, potentially offering hospitals more consistent clot removal and procedure times. Penumbra, traded on the NYSE under ticker PEN, focuses on medical devices for neuro and vascular conditions, and this clearance adds a new technology to its stroke portfolio at a time when hospitals seek more precise and efficient treatment tools.

Penumbra has received CE Mark approval in Europe for its THUNDERBOLT computer-assisted vacuum thrombectomy system, following FDA clearance in the United States last week. The device introduces modulated aspiration to the company's neuro thrombectomy portfolio and is designed to detect, fatigue, and completely ingest clots at the site of occlusion, potentially shortening procedure times and improving patient outcomes. THUNDERBOLT is the only CAVT device available for stroke treatment in both Europe and the United States, representing a first-of-its-kind advancement in acute ischemic stroke care. Penumbra shares edged down 0.2% to $318.21 on Monday following the announcement, though the company's international revenue rose 16.5% year over year in the first quarter of 2026 and accounted for 20.9% of total revenues. The company currently has a market capitalization of $12.44 billion, and the Zacks Consensus Estimate projects 2026 earnings growth of 32.3% and revenue growth of 13.3%.