Penumbra holds a wide economic moat in thrombectomy medical devices with a strong Piotroski F-Score of 8/9 and 3 recent earnings beats, but the stock has reached analyst targets with effectively zero upside remaining and is concentrated in a single product line with limited-supplier dependency.
Thesis pillars
- Target Reached No Upside→Stable
- Wide Moat Thrombectomy→Stable
- Earnings Beat Medical Device→Stable
- +1 more pillar — see the Why tab for full reasoning
Penumbra, Inc. (PEN) Stock Analysis
Range Bound setup · Catalyst-Driven edge
Healthcare · Medical Devices
Sell if holding. At $318.57, A.R:R is negative (-0.0) — price has exceeded the analyst target. Reward from here is too thin for a buy — the engine flags exit. Additional concerns: Concentration risk — Product: thrombectomy products; Concentration risk — Supplier: single or limited number of suppliers.
Penumbra develops and manufactures medical devices for thrombectomy and embolization procedures, generating $1.4 billion in revenue for fiscal 2025 (up 17.5%), split between thrombectomy ($947.9 million) and embolization and access ($455.7 million). The company manufactures... Read more
Sell if holding. At $318.57, A.R:R is negative (-0.0) — price has exceeded the analyst target. Reward from here is too thin for a buy — the engine flags exit. Additional concerns: Concentration risk — Product: thrombectomy products; Concentration risk — Supplier: single or limited number of suppliers. Chart setup: RSI 51 mid-range, Bollinger mid-band. Score 4.8/10, moderate confidence.
Passes 7/8 gates (positive momentum, clean insider activity, no SEC red flags, news events none recent, earnings proximity 25d clear, semi cycle peak clear, materials cycle peak clear). Fails on favorable risk/reward ratio. Suitability: moderate.
About Penumbra, Inc.
About Penumbra, Inc.
Penumbra generated $1,403.7 million in revenue for the year ended December 31, 2025, up 17.5% from the prior year, driven by its thrombectomy portfolio ($947.9 million) and embolization and access products ($455.7 million). The company, founded in 2004, sells through a direct sales force in the United States, most of Europe, Canada, Australia, and Singapore, and reported operating income of $189.2 million for 2025 following a $115.3 million impairment charge in 2024 related to the exit of its immersive healthcare business.
Penumbra earns revenue primarily through direct hospital sales to specialist physicians — including interventional neuroradiologists, neurosurgeons, interventional neurologists, interventional radiologists, and vascular surgeons. The thrombectomy business spans peripheral products (Indigo System with computer assisted vacuum thrombectomy technology for pulmonary embolism, deep vein thrombosis, and acute limb ischemia) and neuro products (Penumbra System for ischemic stroke). The company launched Lightning Flash 3.0, Lightning Bolt 12, and Lightning Bolt 6X with TraX in 2025; the THUNDER IDE study evaluating CAVT technology in neurovascular applications completed enrollment in September 2024. Penumbra manufactures substantially all products in-house in California and typically procures certain raw materials and components from a single or limited number of suppliers, creating qualification risk if a supplier change is required. Most notable competitors include Boston Scientific, Medtronic, Stryker (now including Inari Medical), and Terumo.
Show full overview
On January 14, 2026, Penumbra entered an agreement to be acquired by Boston Scientific Corporation at an enterprise value of approximately $14.5 billion, with shareholders to receive $374 per share (73% cash, 27% Boston Scientific stock, subject to proration). Closing is targeted by end of 2026, subject to stockholder approval and antitrust clearances. Until closing, the Merger Agreement restricts Penumbra from entering certain material contracts or making unbudgeted capital expenditures — constraints that could affect pipeline execution if the transaction is delayed, with a $525 million termination fee payable by Penumbra under certain termination scenarios.
See also: Healthcare · Medical Devices
From Penumbra, Inc.'s most recent 10-K filing, extracted June 11, 2026.
Recent developments
updated 2026-07-06Recent Developments — Penumbra, Inc.
Latest news
- NEWS Penumbra (PEN) Deep Dive | Q4 2025: Profit Exceeds Views - Dark Pool - Cổng thông tin điện tử tỉnh Lào Cai — Cổng thông tin điện tử tỉnh Lào Cai positive
- NEWS Consolidation Fever: Boston Scientific’s $14.9 Billion Bet on Penumbra Signals New Era in MedTech M&A - The Chronicle-Jo — The Chronicle-Journal positive
- NEWS Consolidation Fever: Boston Scientific’s $14.9 Billion Bet on Penumbra Signals New Era in MedTech M&A - FinancialContent — FinancialContent positive
- NEWS Here's Why Penumbra (PEN) is a Strong Growth Stock - Yahoo Finance — Yahoo Finance positive
- NEWS Penumbra (PEN) to Release Quarterly Earnings on Wednesday - MarketBeat — MarketBeat neutral
Generated 2026-07-06T05:51:48Z.
Upcoming dated catalysts
Thesis
Key Metrics
Quality Signals
Options Flow
Concentration Risks(10-K Item 1A)
- HIGHProductthrombectomy products10-K Item 1: 'We generated revenue of $947.9 million ... from our thrombectomy product category for the years ended December 31, 2025'
- HIGHSuppliersingle or limited number of suppliers10-K Item 1A: 'we typically procure certain raw materials and components from a single or limited number of suppliers'
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Rating Breakdown
3 floor-breakers
Priced at a premium — multiples above sector norms. Needs delivery on growth + margins to justify.static
Growth below the gate floor. Component breakdown shows what dragged the score down.static
Ranks in the bottom of its industry peers on the composite signal. Better names in the same sector exist.static
Price Targets
Position Sizing
Risk Alerts
Earnings
Verdict History
Frequently Asked Questions
Sell if holding. At $318.57, A.R:R is negative (-0.0) — price has exceeded the analyst target. Reward from here is too thin for a buy — the engine flags exit. Additional concerns: Concentration risk — Product: thrombectomy products; Concentration risk — Supplier: single or limited number of suppliers. Chart setup: RSI 51 mid-range, Bollinger mid-band. Prior stop was $313.87. Score 4.8/10, moderate confidence.
Take-profit target: $316.64 (-0.6% upside). Prior stop was $313.87. Stop-loss: $313.87.
Concentration risk — Product: thrombectomy products; Concentration risk — Supplier: single or limited number of suppliers; Analyst target reached - limited upside remaining.
Penumbra, Inc. trades at a P/E of 73.6 (forward 50.8). TrendMatrix value score: 3.0/10. Verdict: Sell.
21 analysts cover PEN with a consensus score of 3.4/5. Average price target: $364.
What does Penumbra, Inc. do?Penumbra develops and manufactures medical devices for thrombectomy and embolization procedures, generating $1.4...
Penumbra develops and manufactures medical devices for thrombectomy and embolization procedures, generating $1.4 billion in revenue for fiscal 2025 (up 17.5%), split between thrombectomy ($947.9 million) and embolization and access ($455.7 million). The company manufactures substantially all products in-house in Alameda and Roseville, California, selling primarily through a direct sales organization in the U.S., most of Europe, Canada, Australia, and Singapore.