Penumbra, Inc.

NYSE:PEN Stock Report

Market Cap: US$12.5b

Penumbra Future Growth

Future criteria checks 1/6

Penumbra is forecast to grow earnings and revenue by 18.8% and 11.4% per annum respectively. EPS is expected to grow by 18.7% per annum. Return on equity is forecast to be 14% in 3 years.

Key information

18.8%

Earnings growth rate

18.66%

EPS growth rate

Medical Equipment earnings growth16.3%
Revenue growth rate11.4%
Future return on equity14.04%
Analyst coverage

Good

Last updated16 Jun 2026

Recent future growth updates

Analysis Article • Aug 01

Results: Penumbra, Inc. Exceeded Expectations And The Consensus Has Updated Its Estimates

Penumbra, Inc. ( NYSE:PEN ) defied analyst predictions to release its quarterly results, which were ahead of market...

Recent updates

Analysis Article • 21h

Penumbra (PEN) Stock Could Be 12.7% Undervalued On STORM PE Trial Hopes

Penumbra (PEN) is back in focus after recent trading left the stock around $317.20, prompting investors to reassess its performance over the past month and past 3 months. See our latest analysis for Penumbra. Looking beyond the latest move, Penumbra’s 1 year total shareholder return of 23.42% contrasts with a year to date share price return of 2.51%, while the 3 year total shareholder return has declined 6.7%. This suggests that momentum has cooled after stronger recent gains. If you are...
Narrative Update • Jun 17

PEN: Pulmonary Embolism Trial And Merger Approval Will Support Stronger Outlook

Analysts have maintained their Penumbra price target at approximately $363, noting only minor adjustments to factors such as the discount rate, assumptions about long-term revenue growth and profit margins, and the projected future P/E multiple. What’s in the News for Penumbra Boston Scientific announced plans to acquire Penumbra, with Artisan Partners highlighting the deal as confirmation of its prior investment thesis in Penumbra stock and using the transaction to exit its position.
Narrative Update • Jun 03

PEN: Positive Pulmonary Embolism Trial Outcomes Will Support A Stronger Forward Outlook

Analysts have slightly trimmed their price target on Penumbra to $363.36 from $365.79, reflecting updated assumptions around the discount rate, revenue growth, profit margins, and future P/E. What's in the News Penumbra reported 90 day results from the STORM-PE randomized controlled trial, where patients with acute intermediate high risk pulmonary embolism treated with computer assisted vacuum thrombectomy (CAVT) plus anticoagulation showed greater functional improvement than those on anticoagulation alone, including longer six minute walk distances and a higher share reaching NYHA Class I, according to data presented at the Society of Interventional Radiology Annual Scientific Meeting.
Narrative Update • Apr 25

PEN: Trial Outcomes And Steady Assumptions Will Shape Balanced Forward Outlook

Analysts have maintained their price target on Penumbra at $365.79, making only minor adjustments to inputs such as discount rate, revenue growth, profit margin and future P/E assumptions to reflect updated views on the company’s risk profile and earnings potential. What's in the News Ninety-day results from the STORM-PE randomized controlled trial showed that patients with acute intermediate high risk pulmonary embolism treated with computer assisted vacuum thrombectomy plus anticoagulation walked longer distances in the six minute walk test, reached higher predicted walk distances, and had a higher share of patients with no physical limitations compared with anticoagulation alone, with broadly comparable safety outcomes through 90 days (Key Developments).
Narrative Update • Apr 08

PEN: Merger Terms And Steady Assumptions Will Shape Balanced Forward Outlook

Analysts have raised their price target for Penumbra to $365.79 from $360.13, citing updated assumptions for discount rate, revenue growth, profit margin and future P/E that together support a slightly higher valuation framework. What's in the News Boston Scientific Corporation agreed to acquire Penumbra for US$14.8b under a definitive merger agreement announced on January 14, 2026.
Narrative Update • Mar 25

PEN: Merger Agreement And Steady Metrics Will Shape Measured Forward Outlook

Analysts have kept their $360.13 price target for Penumbra broadly unchanged, citing slightly adjusted assumptions for the discount rate, revenue growth, profit margin and future P/E. Taken together, these changes leave their overall valuation view steady for now.
Narrative Update • Mar 11

PEN: Proposed Buyout Terms And Revised Assumptions Will Shape Balanced Outlook

Analysts have nudged their price target on Penumbra higher to about $360 from roughly $349, citing updated assumptions that combine slightly lower revenue growth and a modestly lower future P/E with a somewhat higher profit margin outlook and a small adjustment to the discount rate. What's in the News Boston Scientific agreed to acquire Penumbra in a cash and stock deal valued at about US$14.8b, pricing each Penumbra share at US$374.
Narrative Update • Feb 24

PEN: Proposed Cash And Stock Buyout Will Define Balanced Risk Reward Profile

Analysts have maintained their fair value estimate for Penumbra at about $348.53, with only a slight adjustment to key model inputs such as the discount rate and future P/E. This reflects updated assumptions rather than a major shift in outlook.
Narrative Update • Feb 10

PEN: Proposed Takeover Terms And Steady Outlook Will Shape Risk Reward Balance

Analysts now hold Penumbra's fair value estimate steady at about $348.53 per share, with only slight tweaks to inputs such as the discount rate and future P/E. This reflects a largely unchanged view of the stock's risk and earnings profile.
Narrative Update • Jan 27

PEN: Acquisition Proposal And 2025 Guidance Will Shape Future Risk Reward Balance

Analysts have raised their price target on Penumbra by about $11 per share, citing updated assumptions that include slightly higher fair value estimates, a modestly lower discount rate, and small adjustments to revenue growth, profit margin, and future P/E expectations. What's in the News Boston Scientific entered into a definitive agreement to acquire Penumbra for $14.8b, valuing each Penumbra share at $374, with stockholders able to elect cash or Boston Scientific stock, subject to proration and regulatory and shareholder approvals (M&A Transaction Announcement).
Narrative Update • Jan 11

PEN: Trial Results And 2025 Guidance Will Shape Future Risk Reward Balance

Analysts have increased their price target on Penumbra by about $10 to reflect updated fair value assumptions, a slightly lower discount rate, modestly higher revenue growth expectations, a small adjustment to profit margin forecasts, and a higher future P/E multiple. What's in the News Penumbra updated its earnings guidance for 2025 and now expects total revenue in a range of US$1.375b to US$1.380b, based on 2024 revenue of US$1.195b, while maintaining its full year 2025 gross margin and operating margin guidance (Key Developments).
Analysis Article • Jan 11

Do Penumbra's (NYSE:PEN) Earnings Warrant Your Attention?

It's common for many investors, especially those who are inexperienced, to buy shares in companies with a good story...
Narrative Update • Dec 27

PEN: Trial Data And 2025 Guidance Will Shape Future Risk Reward Balance

Analysts have modestly raised their price target on Penumbra, increasing the estimated fair value by about $18 to roughly $328 per share. This reflects slightly stronger expectations for long term revenue growth and sustainable earnings multiples, despite only marginal tweaks to discount rate and margin assumptions.
Seeking Alpha • Dec 15

Penumbra: Well-Placed For Above-Average Growth, But Mind The Volatility

Summary Penumbra offers compelling growth in mechanical thrombectomy, with strong recent results and expanding addressable markets in pulmonary embolism and neurovascular. PEN’s STORM-PE and CLOSABLE studies and upcoming Thunderbolt launch position the company for accelerated adoption and revenue growth in 2026 and beyond. Valuation remains challenging, with shares trading at high multiples, but robust growth and potential M&A interest justify a more flexible stance. I see around 10% upside at current levels, with beat-and-raise potential and long-term EBITDA margin expansion into the mid-20% range. Read the full article on Seeking Alpha
Narrative Update • Dec 13

PEN: Clinical Trial Outcomes And 2025 Guidance Will Shape Balanced Outlook

Analysts have nudged their price target on Penumbra slightly higher, to approximately $310 per share from about $307, citing a modestly lower discount rate and a higher long term earnings multiple that more than offset a small trim to projected profit margins. What's in the News Penumbra raised its 2025 total revenue guidance to a range of $1.375 billion to $1.380 billion, implying 15% to 16% growth over 2024, while reiterating full year gross and operating margin targets (company guidance).
Analysis Article • Nov 28

Penumbra, Inc. (NYSE:PEN) Looks Just Right With A 27% Price Jump

Penumbra, Inc. ( NYSE:PEN ) shares have had a really impressive month, gaining 27% after a shaky period beforehand...
Narrative Update • Nov 21

PEN: Upcoming Clinical Results And Balanced Outlook Will Shape 2025 Performance

Analysts have modestly raised their price target for Penumbra from $306.74 to $306.79, citing incremental improvements in projected revenue growth and a slight decrease in the discount rate as key factors supporting the adjustment. What's in the News Penumbra updated its 2025 guidance, increasing expected total revenue to $1.375 to $1.38 billion, reflecting 15% to 16% growth over 2024, and maintained its gross and operating margin outlook for the year (Corporate Guidance).
Narrative Update • Nov 07

PEN: Latest Clinical Trial Results Will Drive Global Expansion Momentum

Analysts have raised their price target for Penumbra from $303.33 to $306.74, citing modest improvements in profit margin and revenue growth forecasts. What's in the News Penumbra raised its 2025 revenue guidance to a range of $1.375 billion to $1.38 billion, representing 15% to 16% growth over 2024 figures, and reaffirmed its gross and operating margin guidance (Key Developments).
Narrative Update • Sep 08

STORM-PE Trial And New Therapies Will Expand Global Reach

The reduction in Penumbra’s Analyst Price Target reflects a combination of weakening net profit margins and a higher future P/E multiple, with fair value revised down from $310.24 to $303.33. What's in the News Company completed repurchase of 517,763 shares (1.33%) for $100 million under the current buyback, with no shares repurchased in the latest quarter.
Analysis Article • Aug 01

Results: Penumbra, Inc. Exceeded Expectations And The Consensus Has Updated Its Estimates

Penumbra, Inc. ( NYSE:PEN ) defied analyst predictions to release its quarterly results, which were ahead of market...
Analysis Article • Jun 23

The Return Trends At Penumbra (NYSE:PEN) Look Promising

What are the early trends we should look for to identify a stock that could multiply in value over the long term...
Seeking Alpha • Mar 13

Penumbra Off And Running On Renewed Enthusiasm For Mechanical Thrombectomy

Summary Penumbra's shares have surged again on renewed confidence in mechanical thrombectomy growth and a competitor's acquisition, but the current valuation is high at over 7x 2025 revenue estimate. Penumbra's thrombectomy business grew significantly in Q4'24, with U.S. revenue up 27% and venous revenue up 40%, driven by ongoing market penetration and share gains. Future growth looks promising with new products like Thunderbolt in stroke thrombectomy and ongoing penetration of other mechanical thrombectomy markets, but Stryker's Inari remains a formidable rival. Despite strong growth prospects, Penumbra's current valuation already reflects these expectations, making it a less than ideal candidate for GARP-type investors. Read the full article on Seeking Alpha
Seeking Alpha • Jan 07

Penumbra: Re-Rated For The Wrong Reasons

Summary Penumbra has shown significant operating leverage and profitability, with strong topline growth and a more than five-fold increase in revenue since its IPO in 2015. Despite a recent recovery in share price, growth has slowed, particularly due to challenges in China, leading to a cautious stance. Current valuation multiples have expanded, but growth expectations have softened, making the risk-reward proposition less attractive. I have sold out of my modest position due to higher expectations and slower growth, but Penumbra remains an interesting company to watch for future opportunities. Read the full article on Seeking Alpha
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New Narrative • Aug 27

CAVT Technology Powers Thrombectomy Leader To Transformative Growth And Global Expansion

Introduction of CAVT technology positions Penumbra as a thrombectomy leader, driving revenue growth through innovation and market share gains.
Seeking Alpha • Aug 20

Penumbra Grinding Through A Painful Growth Expectations Reset

Summary Penumbra's stock has sold off sharply over the last year as decelerating revenue growth has spooked growth investors out of this high-multiple stock. Q2 results included 14% revenue growth, a small beat versus the Street, and improved margins, but management reduced revenue guidance by $60M (around 5%). Penumbra isn't the only player seeing a slower VTE/thrombectomy market, as Inari's business has also slowed; it's unclear what is driving the slowdown, but temporary market saturation is plausible. Penumbra's core VTE markets are only about 20% penetrated, and there are compelling arguments for using thrombectomy in eligible patients instead of anticoagulants. Penumbra is a borderline call today; I can make a case for a share price of $225, but it may take a few more quarters for the business to reaccelerate. Read the full article on Seeking Alpha
Seeking Alpha • May 30

Penumbra: Appeal Improves As Operating Leverage Continues

Summary Penumbra, a neurovascular player, has experienced solid topline growth over the past decade, now accompanied by operating leverage. Shares have fallen 20% from February levels, making them more appealing, but valuations are still demanding. The company's focus on removing clots and treating aneurysms has led to strong growth, as I am willing to dip my toes into the water on further dips. Read the full article on Seeking Alpha

Earnings and Revenue Growth Forecasts

NYSE:PEN - Analysts future estimates and past financials data (USD Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
12/31/20282,03929829534510
12/31/20271,80025021926916
12/31/20261,5991961752458
3/31/20261,454171213277N/A
12/31/20251,404178175239N/A
9/30/20251,334164153203N/A
6/30/20251,280148162201N/A
3/31/20251,24042150179N/A
12/31/20241,19514147168N/A
9/30/20241,16435134154N/A
6/30/20241,13414110128N/A
3/31/20241,09693104122N/A
12/31/20231,059918197N/A
9/30/2023995414662N/A
6/30/202393829119N/A
3/31/20238856-56-38N/A
12/31/2022847-2-75-56N/A
9/30/2022830-31-90-66N/A
6/30/2022806-19-40-17N/A
3/31/2022782-6-319N/A
12/31/20217485-1210N/A
9/30/202171034017N/A
6/30/202167116-39-23N/A
3/31/2021592-5-60-42N/A
12/31/2020560-16-58-33N/A
9/30/2020539-10-55-26N/A
6/30/202052711-34-1N/A
3/31/202055639-723N/A
12/31/201954748N/A27N/A
9/30/201952345N/A29N/A
6/30/201949515N/A18N/A
3/31/201947112N/A16N/A
12/31/20184457N/A29N/A
9/30/20184209N/A20N/A
6/30/201839228N/A21N/A
3/31/201836313N/A21N/A
12/31/20173345N/A13N/A
9/30/2017311-7N/A3N/A
6/30/20172945N/A-2N/A
3/31/20172799N/A-9N/A
12/31/201626315N/A-13N/A
9/30/201624518N/A-11N/A
6/30/20162286N/A-21N/A
3/31/20162053N/A-20N/A
12/31/20151861N/A-21N/A
9/30/20151670N/A-18N/A
6/30/2015149-1N/A-17N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: PEN's forecast earnings growth (18.8% per year) is above the savings rate (3.5%).

Earnings vs Market: PEN's earnings (18.8% per year) are forecast to grow slower than the US market (18.8% per year).

High Growth Earnings: PEN's earnings are forecast to grow, but not significantly.

Revenue vs Market: PEN's revenue (11.4% per year) is forecast to grow slower than the US market (12.9% per year).

High Growth Revenue: PEN's revenue (11.4% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: PEN's Return on Equity is forecast to be low in 3 years time (14%).

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/06/20 16:38
End of Day Share Price 2026/06/18 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

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Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Penumbra, Inc. is covered by 27 analysts. 16 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
null nullBaird
David RescottBaird
Joanne WuenschBMO Capital Markets Equity Research