Penumbra (PEN)
Market Price (12/24/2025): $316.11 | Market Cap: $12.4 BilSector: Health Care | Industry: Health Care Equipment
Penumbra (PEN)
Market Price (12/24/2025): $316.11Market Cap: $12.4 BilSector: Health CareIndustry: Health Care Equipment
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 15%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 11% | Trading close to highsDist 52W High is -1.5% | Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 66x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 61x, P/EPrice/Earnings or Price/(Net Income) is 75x |
| Low stock price volatilityVol 12M is 39% | Weak multi-year price returns2Y Excs Rtn is -20%, 3Y Excs Rtn is -38% | Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.8% |
| Megatrend and thematic driversMegatrends include Precision Medicine, and Aging Population & Chronic Disease. Themes include Targeted Therapies, and Geriatric Care. | Key risksPEN key risks include [1] significant litigation and regulatory fallout from the Class I recall of its Jet 7 catheter linked to patient deaths, Show more. |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 15%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 11% |
| Low stock price volatilityVol 12M is 39% |
| Megatrend and thematic driversMegatrends include Precision Medicine, and Aging Population & Chronic Disease. Themes include Targeted Therapies, and Geriatric Care. |
| Trading close to highsDist 52W High is -1.5% |
| Weak multi-year price returns2Y Excs Rtn is -20%, 3Y Excs Rtn is -38% |
| Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 66x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 61x, P/EPrice/Earnings or Price/(Net Income) is 75x |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.8% |
| Key risksPEN key risks include [1] significant litigation and regulatory fallout from the Class I recall of its Jet 7 catheter linked to patient deaths, Show more. |
Why The Stock Moved
Qualitative Assessment
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1. Strong Third Quarter 2025 Financial Performance: Penumbra reported robust third-quarter 2025 financial results on November 5, 2025, with revenue of $354.7 million, marking a significant 17.8% increase (16.9% in constant currency) compared to the third quarter of 2024. This strong performance was primarily driven by a 21.5% rise in U.S. revenue, particularly an 18.5% growth in U.S. thrombectomy sales, and an improved gross profit margin of 67.8%. The company also increased its full-year 2025 revenue guidance to $1.355-$1.370 billion, representing 13-15% growth over 2024, indicating a positive future outlook.2. Positive Analyst Upgrades and Price Target Revisions: Several analysts issued favorable ratings and increased price targets for Penumbra around mid-December 2025. Notably, on December 18, 2025, JPMorgan Chase & Co. upgraded Penumbra from "neutral" to "overweight" and raised its price target to $370, implying roughly a 19.66% upside from the prior close. This, combined with an average price target of $366.33 from Truist Securities, JP Morgan, and Canaccord Genuity, suggested an implied 15.96% upside for Penumbra Inc. from these most recent analyst ratings.
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Stock Movement Drivers
Fundamental Drivers
The 24.3% change in PEN stock from 9/23/2025 to 12/23/2025 was primarily driven by a 12.7% change in the company's P/E Multiple.| 9232025 | 12232025 | Change | |
|---|---|---|---|
| Stock Price ($) | 254.14 | 315.95 | 24.32% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 1280.15 | 1333.80 | 4.19% |
| Net Income Margin (%) | 11.54% | 12.30% | 6.59% |
| P/E Multiple | 66.82 | 75.27 | 12.65% |
| Shares Outstanding (Mil) | 38.83 | 39.08 | -0.63% |
| Cumulative Contribution | 24.32% |
Market Drivers
9/23/2025 to 12/23/2025| Return | Correlation | |
|---|---|---|
| PEN | 24.3% | |
| Market (SPY) | 3.7% | -6.9% |
| Sector (XLV) | 13.2% | 21.5% |
Fundamental Drivers
The 23.6% change in PEN stock from 6/24/2025 to 12/23/2025 was primarily driven by a 261.1% change in the company's Net Income Margin (%).| 6242025 | 12232025 | Change | |
|---|---|---|---|
| Stock Price ($) | 255.72 | 315.95 | 23.55% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 1240.10 | 1333.80 | 7.56% |
| Net Income Margin (%) | 3.41% | 12.30% | 261.10% |
| P/E Multiple | 233.49 | 75.27 | -67.76% |
| Shares Outstanding (Mil) | 38.56 | 39.08 | -1.34% |
| Cumulative Contribution | 23.53% |
Market Drivers
6/24/2025 to 12/23/2025| Return | Correlation | |
|---|---|---|
| PEN | 23.6% | |
| Market (SPY) | 13.7% | 4.9% |
| Sector (XLV) | 16.4% | 22.6% |
Fundamental Drivers
The 31.3% change in PEN stock from 12/23/2024 to 12/23/2025 was primarily driven by a 314.3% change in the company's Net Income Margin (%).| 12232024 | 12232025 | Change | |
|---|---|---|---|
| Stock Price ($) | 240.55 | 315.95 | 31.34% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 1163.78 | 1333.80 | 14.61% |
| Net Income Margin (%) | 2.97% | 12.30% | 314.27% |
| P/E Multiple | 268.85 | 75.27 | -72.00% |
| Shares Outstanding (Mil) | 38.61 | 39.08 | -1.21% |
| Cumulative Contribution | 31.33% |
Market Drivers
12/23/2024 to 12/23/2025| Return | Correlation | |
|---|---|---|
| PEN | 31.3% | |
| Market (SPY) | 16.7% | 33.1% |
| Sector (XLV) | 13.2% | 31.8% |
Fundamental Drivers
The 43.9% change in PEN stock from 12/24/2022 to 12/23/2025 was primarily driven by a 60.7% change in the company's Total Revenues ($ Mil).| 12242022 | 12232025 | Change | |
|---|---|---|---|
| Stock Price ($) | 219.62 | 315.95 | 43.86% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 829.93 | 1333.80 | 60.71% |
| P/S Multiple | 10.03 | 9.26 | -7.75% |
| Shares Outstanding (Mil) | 37.92 | 39.08 | -3.06% |
| Cumulative Contribution | 43.73% |
Market Drivers
12/24/2023 to 12/23/2025| Return | Correlation | |
|---|---|---|
| PEN | 22.2% | |
| Market (SPY) | 48.4% | 27.3% |
| Sector (XLV) | 18.2% | 29.2% |
Price Returns Compared
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| PEN Return | 7% | 64% | -23% | 13% | -6% | 35% | 95% |
| Peers Return | 4% | 8% | -4% | 12% | 18% | 20% | 71% |
| S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 17% | 114% |
Monthly Win Rates [3] | |||||||
| PEN Win Rate | 42% | 58% | 50% | 67% | 33% | 50% | |
| Peers Win Rate | 54% | 52% | 52% | 54% | 58% | 62% | |
| S&P 500 Win Rate | 58% | 75% | 42% | 67% | 75% | 73% | |
Max Drawdowns [4] | |||||||
| PEN Max Drawdown | -24% | 0% | -60% | -18% | -35% | -5% | |
| Peers Max Drawdown | -35% | -7% | -19% | -7% | -4% | -2% | |
| S&P 500 Max Drawdown | -31% | -1% | -25% | -1% | -2% | -15% | |
[1] Cumulative total returns since the beginning of 2020
[2] Peers: SYK, MDT, JNJ, BSX. See PEN Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/23/2025 (YTD)
How Low Can It Go
| Event | PEN | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -62.6% | -25.4% |
| % Gain to Breakeven | 167.6% | 34.1% |
| Time to Breakeven | 327 days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -35.9% | -33.9% |
| % Gain to Breakeven | 55.9% | 51.3% |
| Time to Breakeven | 55 days | 148 days |
| 2018 Correction | ||
| % Loss | -31.7% | -19.8% |
| % Gain to Breakeven | 46.3% | 24.7% |
| Time to Breakeven | 172 days | 120 days |
Compare to SYK, MASI, DAVI, EMI, IAMR
In The Past
Penumbra's stock fell -62.6% during the 2022 Inflation Shock from a high on 4/28/2021. A -62.6% loss requires a 167.6% gain to breakeven.
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Penumbra, Inc. designs, develops, manufactures, and markets medical devices in the United States and internationally. The company offers aspiration based thrombectomy systems and accessory devices, including revascularization device for mechanical thrombectomy, such as Penumbra System under the Penumbra RED, JET, ACE, 3D Revascularization Device, and Penumbra ENGINE brands, as well as components and accessories; neurovascular embolization coiling systems to treat patients with various sizes of aneurysms and other neurovascular lesions under the Penumbra Coil 400, POD400, PAC400, and Penumbra SMART Coil brand names; and neurovascular access systems designed to provide intracranial access for use in a range of neurovascular therapies under the Neuron, Neuron MAX, Select, BENCHMARK, BMX96, DDC, and PX SLIM brands. It also provides neurosurgical aspiration tools for the removal of tissue and fluids under the Artemis Neuro Evacuation Device brand; aspiration-based thrombectomy systems for vascular applications under the Indigo System brand; and detachable embolic coil systems for peripheral embolization under the Ruby Coil and Ruby LP brand names. In addition, the company offers microcatheter for the delivery of detachable coils and occlusion devices under the LANTERN brand; and detachable, microcatheter-deliverable occlusion devices designed primarily to occlude peripheral vessels under the POD (Penumbra Occlusion Device) brand, as well as immersive computer-based technologies and immersive therapeutics to promote health, motor function, and cognition under the Real Immersive System brand; and a complementary device for use with Ruby Coil and POD for vessel occlusion under the Packing Coil and Packing Coil LP brands. The company sells its products through direct sales organizations and distributors. Penumbra, Inc. was incorporated in 2004 and is headquartered in Alameda, California.
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Here are 1-3 brief analogies for Penumbra:
Medtronic for neurovascular and peripheral vascular medical devices.
Meta's Oculus, but for medical rehabilitation and physical therapy.
AI Analysis | Feedback
- Stroke Management Devices: Catheter-based systems, including aspiration catheters and stent retrievers, designed to remove blood clots from the brain in patients experiencing ischemic stroke.
- Aneurysm and Hemorrhagic Stroke Devices: Coils, embolization systems, and access technologies used to treat brain aneurysms and other neurovascular conditions involving bleeding.
- Peripheral Vascular Thrombectomy Devices: Catheter-based systems for removing blood clots from arteries and veins in the limbs, lungs, and other peripheral regions to treat conditions like deep vein thrombosis (DVT) and pulmonary embolism (PE).
- Embolization Devices: Systems used for therapeutic embolization, which intentionally blocks blood vessels to treat conditions such as tumors, arteriovenous malformations, and uterine fibroids.
- Immersive Healthcare (VR Training): Virtual reality platforms and modules that provide realistic simulations for medical training and education, particularly for interventional procedures.
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Penumbra, Inc. (PEN) primarily sells its innovative medical devices to other companies and healthcare institutions, rather than directly to individuals.
Due to the nature of the medical device industry and Penumbra's diversified sales strategy, the company does not publicly disclose specific major customer companies by name that account for a significant portion of its revenue (e.g., greater than 10%) in its financial filings. Their customer base is broadly distributed across the global healthcare system.
However, Penumbra's products are purchased by the following categories of organizations:
- Hospitals and Healthcare Systems: These are the primary end-users of Penumbra's devices, including large hospital networks, academic medical centers, and community hospitals, both public and private.
- Clinics and Ambulatory Surgical Centers: Smaller healthcare facilities that perform specialized procedures utilizing Penumbra's tools.
- Third-Party Distributors: In various international markets, Penumbra utilizes distributors to reach healthcare providers. These companies act as intermediaries, purchasing products from Penumbra for resale to the end-users.
As no single specific major customer company is publicly identified or represents a material concentration of revenue for Penumbra, no specific company names or their stock symbols can be listed.
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Adam Elsesser, Chairman and Chief Executive Officer
Adam Elsesser co-founded Penumbra in 2004 and has served as CEO since its inception, and as Chairman of the Board since January 2015. Prior to Penumbra, Mr. Elsesser was CEO of SMART Therapeutics, Inc., a medical device company focused on neuro-intervention, from 2000 to 2002. Following its acquisition by Boston Scientific Corporation, he served as President of SMART Therapeutics within Boston Scientific Corporation from 2002 to 2005. Before his work in the medical device industry, he was a partner in the law firm of Shartsis Friese LLP.
Maggie Yuen, Chief Financial Officer
Maggie Yuen has been the Chief Financial Officer of Penumbra since 2019. She has over 20 years of experience in scaling finance organizations, processes, and infrastructure within the manufacturing, medical devices, and life science industries. Ms. Yuen previously held various leadership positions at Thermo Fisher Scientific Inc., where she was the Vice President of Finance for the Genetic Science Division, and at Mirion Technologies, Boston Scientific, Glu Mobile, and Johnson & Johnson.
Shruthi Narayan, President
Shruthi Narayan was appointed President of Penumbra, effective September 1, 2025. With 20 years of experience in the medical device industry, she joined Penumbra in 2013 and has led significant growth in both neuro and vascular franchises. Ms. Narayan previously served as president of Penumbra's interventional business and began her medical device career at Medtronic in 2006, where she worked in engineering, regulatory affairs, and cardiovascular sales.
Arani Bose, M.D., Chief Innovator and Director
Dr. Arani Bose co-founded Penumbra with Adam Elsesser in 2004 and has served as its Chief Innovator since 2004. He was also Chairman of the Board and Chief Medical Officer from 2005 to 2015. Prior to founding Penumbra, Dr. Bose co-founded SMART Therapeutics, Inc. while an Assistant Professor of Radiology and Neurology at New York University (NYU) School of Medicine, where he also had a clinical practice from 1997 to 2004. At Smart Therapeutics, Dr. Bose developed and led clinical trials for the Neuroform Stent and Wingspan Stent, leading to their FDA approval.
Johanna Roberts, Executive Vice President, General Counsel and Secretary
Johanna Roberts serves as the Executive Vice President, General Counsel, and Secretary for Penumbra. She started at Penumbra, Inc. in July 2016. No detailed background information regarding founding/managing other companies, selling companies, or private equity firm backing was found in the search results for Ms. Roberts.
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The key risks to Penumbra's business include:
- Regulatory and Legal Risks, including Product Recalls and Litigation: Penumbra operates in a highly regulated industry, facing stringent domestic and foreign medical device regulations that can impede product approvals, lead to recalls, or result in litigation. A significant example is the recall of the Penumbra Jet 7 Xtra Flex Catheter due to reports of device failure, severe injury, and patient deaths, which has led to ongoing lawsuits alleging defective devices and failure to warn about risks. The U.S. Food and Drug Administration (FDA) designated this as a Class I recall, its most serious classification.
- Intense Competition: Penumbra faces a highly competitive landscape within the medical device industry from both large, well-capitalized companies like Boston Scientific, Medtronic, and Stryker, as well as smaller firms specializing in niche products. This competition can impact Penumbra's market share, pricing power, and profitability, necessitating continuous investment in product development and marketing to maintain its competitive edge.
- Dependence on Core Product Lines and Risk of Technological Obsolescence: While Penumbra benefits from an innovative product portfolio, particularly in thrombectomy and embolization devices, there is a risk associated with over-reliance on these core product lines. Furthermore, the medical device industry is characterized by rapid technological advancements, posing a constant threat of obsolescence to existing products and requiring Penumbra to continuously innovate to meet evolving healthcare needs.
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Penumbra's Addressable Markets:
- Neurovascular Devices (Global): The global neurovascular devices market was estimated at approximately $3.02 billion in 2024 and is projected to reach around $6.64 billion by 2034, growing at a Compound Annual Growth Rate (CAGR) of 8.20% from 2025 to 2034. Other estimates place the global market at $7.37 billion in 2024, growing to $12.94 billion by 2034 with a CAGR of 5.79%, or $3.32 billion in 2024, projected to reach $7.01 billion by 2035 with a CAGR of 7.02%.
- Neurovascular Devices (U.S.): The U.S. neurovascular devices market size was approximately $655.34 million in 2024 and is predicted to be worth around $1,474.58 million by 2034, rising at a CAGR of 8.34% from 2024 to 2034. North America dominated the global market with a revenue share of 31% in 2024.
- Peripheral Vascular Devices (Global): The global peripheral vascular devices market size was estimated at $10.44 billion in 2024 and is projected to reach $16.90 billion by 2033, growing at a CAGR of 5.3% from 2025 to 2033. Another report valued the market at $12.2 billion in 2023, expecting it to reach $20.8 billion by 2033 with a CAGR of 5.6% from 2024 to 2033.
- Peripheral Vascular Devices (North America): North America held the largest revenue share of the global market at 38.92% in 2024. North America leads the Peripheral Vascular Devices Market with a 40% largest share. The U.S. peripheral vascular devices market is anticipated to register the fastest growth rate during the forecast period.
- Thrombectomy Devices (Global): The global thrombectomy devices market was valued at $1.64 billion in 2024 and is projected to reach $3.29 billion by 2034, expanding at a CAGR of 7.21% from 2025 to 2034. Other estimates indicate the market was $1.75 billion in 2025, set to reach $2.46 billion by 2030 with a CAGR of 7.07%, or $1.64 billion in 2024, anticipated to reach $2.9 billion by 2032 with a CAGR of 7.41%.
- Thrombectomy Devices (U.S.): The U.S. thrombectomy devices market size was estimated at $450 million in 2024 and is predicted to be worth around $920 million by 2034, at a CAGR of 7.41% from 2025 to 2034.
- Pulmonary Embolism Market (Global): The global pulmonary embolism market size was calculated at $2.15 billion in 2024 and is projected to hit approximately $4.78 billion by 2034, undergoing a CAGR of 8.32% during the forecast period 2025-2034.
- Immersive Healthcare (Virtual Reality for rehabilitation and mental health): null. Penumbra announced in August 2024 that it would "permanently discontinue" its Immersive Healthcare business.
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Penumbra (symbol: PEN) is anticipated to drive future revenue growth over the next 2-3 years through several key factors:
- Continued Strength and Innovation in U.S. Thrombectomy: Penumbra projects robust growth in its U.S. thrombectomy business, with guidance of 20%-21% growth for 2025. This is fueled by increasing adoption and market penetration of its Computer Assisted Vacuum Thrombectomy (CAVT) portfolio, including advanced products like Lightning Flash 2.0 and Lightning Bolt 7.
- Launch and Expansion of New Products: The company has a pipeline of innovative products expected to contribute significantly to revenue. Key examples include the upcoming launch of Thunderbolt, a CAVT system for stroke, and the recently introduced Ruby XL embolization platform, which is already driving growth in the embolization and access business. Other notable launches include the ACCESS25 Delivery Microcatheter for aneurysm access, the SwiftSET Neuro Embolization Coil, and the Element Vascular Access System for venous thromboembolism treatments.
- Accelerated Growth in the Embolization and Access Business: Penumbra has seen accelerated growth in its embolization and access segment, particularly in the U.S. This is attributed to successful new product introductions, such as Ruby XL, and strategic investments in expanding its dedicated sales team for this area.
- International Market Expansion and Easing Headwinds: After some mixed trends, Penumbra expects international growth to rebound in the second half of 2025, with a focus on materially increasing both revenues and profitability in these markets in the coming years. The easing of headwinds in the China region is also identified as a catalyst for renewed international revenue growth in 2026.
- Positive Outcomes from Clinical Trials: Favorable results from significant clinical trials, such as the STORM-PE trial evaluating the Indigo Mechanical Aspiration device for pulmonary embolism, are expected to further drive broader clinical adoption of Penumbra's technologies and reinforce their efficacy, thereby contributing to revenue growth.
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Share Repurchases
- In August 2024, Penumbra's Board of Directors authorized a share repurchase program of up to $200 million, set to expire on July 31, 2025.
- As part of this authorization, Penumbra entered into a $100 million accelerated share repurchase (ASR) agreement in August 2024.
- As of December 31, 2024, $100 million remained available under the authorized repurchase program.
Share Issuance
- In May 2020, Penumbra announced the pricing of an underwritten public offering of 753,012 shares of its common stock at a price of $166.00 per share.
- The net proceeds from this 2020 offering were intended for general corporate purposes, including working capital, product development, and potential acquisitions.
Outbound Investments
- In September 2021, Penumbra completed the acquisition of Sixense Enterprises Inc. for approximately $250 million.
Capital Expenditures
- For the last 12 months as of December 31, 2024, Penumbra's capital expenditures amounted to approximately $19.46 million.
- Strategic capital investments have included the establishment of facilities like the Costa Rica facility, aimed at supporting global market expansion.
- The company's capital expenditure ratio, at approximately 1.7% of revenue, is noted to be lower than the medical device industry average of 5-10%.
Latest Trefis Analyses
| Title | Topic | |
|---|---|---|
| DASHBOARDS | ||
| Penumbra Earnings Notes | ||
| Penumbra Earnings Notes | ||
| Penumbra Stock Jump Looks Great, But How Secure Is That Gain? | Return | |
| Penumbra vs Meta Platforms: Which Is A Better Investment? | Counter-Intuitive Comparisons | |
| Penumbra vs Eli Lilly: Which Is A Better Investment? | Counter-Intuitive Comparisons | |
| Penumbra vs Boston Scientific: Which Is A Better Investment? | Counter-Intuitive Comparisons | |
| How Does Penumbra Stock Stack Up Against Its Peers? | Peer Comparison | |
| Better Bet Than PEN Stock: Pay Less Than Penumbra To Get More From CALM, ACADÂ | ||
| Better Bet Than PEN Stock: Pay Less Than Penumbra To Get More From ACAD, ADMAÂ | ||
| PEN Dip Buy Analysis |
| Title | |
|---|---|
| ARTICLES |
Trade Ideas
Select ideas related to PEN. For more, see Trefis Trade Ideas.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 11142025 | CRL | Charles River Laboratories International | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 20.9% | 20.9% | -3.7% |
| 11142025 | GDRX | GoodRx | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | -7.4% | -7.4% | -11.8% |
| 11142025 | ASTH | Astrana Health | Dip Buy | DB | FCF Yield | Low D/EDip Buy with High Free Cash Flow YieldBuying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap | 13.5% | 13.5% | -5.5% |
| 11142025 | SGRY | Surgery Partners | Dip Buy | DB | FCF Yield | Low D/EDip Buy with High Free Cash Flow YieldBuying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap | 1.6% | 1.6% | -1.4% |
| 11072025 | TFX | Teleflex | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 11.8% | 11.8% | -5.1% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons for Penumbra
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 205.78 |
| Mkt Cap | 135.7 |
| Rev LTM | 24,381 |
| Op Inc LTM | 4,785 |
| FCF LTM | 4,073 |
| FCF 3Y Avg | 3,282 |
| CFO LTM | 4,832 |
| CFO 3Y Avg | 3,952 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 11.0% |
| Rev Chg 3Y Avg | 10.8% |
| Rev Chg Q | 10.2% |
| QoQ Delta Rev Chg LTM | 2.4% |
| Op Mgn LTM | 19.3% |
| Op Mgn 3Y Avg | 18.6% |
| QoQ Delta Op Mgn LTM | 0.5% |
| CFO/Rev LTM | 20.5% |
| CFO/Rev 3Y Avg | 19.8% |
| FCF/Rev LTM | 16.7% |
| FCF/Rev 3Y Avg | 14.7% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 135.7 |
| P/S | 5.6 |
| P/EBIT | 28.4 |
| P/E | 46.1 |
| P/CFO | 28.1 |
| Total Yield | 3.1% |
| Dividend Yield | 0.9% |
| FCF Yield 3Y Avg | 2.6% |
| D/E | 0.1 |
| Net D/E | 0.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -0.8% |
| 3M Rtn | 2.6% |
| 6M Rtn | 15.0% |
| 12M Rtn | 23.7% |
| 3Y Rtn | 43.9% |
| 1M Excs Rtn | -5.5% |
| 3M Excs Rtn | -2.3% |
| 6M Excs Rtn | 1.8% |
| 12M Excs Rtn | 8.1% |
| 3Y Excs Rtn | -37.7% |
Comparison Analyses
Price Behavior
Price Behavior
| Market Price | $315.95 | |
| Market Cap ($ Bil) | 12.3 | |
| First Trading Date | 09/18/2015 | |
| Distance from 52W High | -1.5% | |
| 50 Days | 200 Days | |
| DMA Price | $276.11 | $266.17 |
| DMA Trend | up | up |
| Distance from DMA | 14.4% | 18.7% |
| 3M | 1YR | |
| Volatility | 45.9% | 39.7% |
| Downside Capture | -65.16 | 47.09 |
| Upside Capture | 50.03 | 66.70 |
| Correlation (SPY) | -6.0% | 33.2% |
PEN Betas & Captures as of 11/30/2025
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -0.69 | -0.55 | -0.38 | 0.07 | 0.68 | 0.71 |
| Up Beta | 1.80 | 0.65 | 1.00 | 1.17 | 0.84 | 0.95 |
| Down Beta | 0.02 | -0.22 | -0.75 | -0.23 | 0.70 | 0.35 |
| Up Capture | 73% | -25% | -22% | 2% | 45% | 43% |
| Bmk +ve Days | 13 | 26 | 39 | 74 | 142 | 427 |
| Stock +ve Days | 11 | 20 | 30 | 57 | 115 | 373 |
| Down Capture | -279% | -170% | -93% | -38% | 57% | 91% |
| Bmk -ve Days | 7 | 16 | 24 | 52 | 107 | 323 |
| Stock -ve Days | 9 | 22 | 33 | 68 | 133 | 376 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Comparison of PEN With Other Asset Classes (Last 1Y) | |||||||
|---|---|---|---|---|---|---|---|
| PEN | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | 32.3% | 14.9% | 18.8% | 72.9% | 9.0% | 3.7% | -11.4% |
| Annualized Volatility | 39.5% | 17.3% | 19.5% | 19.2% | 15.3% | 17.2% | 35.0% |
| Sharpe Ratio | 0.79 | 0.64 | 0.76 | 2.72 | 0.36 | 0.05 | -0.14 |
| Correlation With Other Assets | 31.1% | 32.8% | 1.3% | 14.6% | 25.9% | 6.1% | |
ETFs used for asset classes: Sector ETF = XLV, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Comparison of PEN With Other Asset Classes (Last 5Y) | |||||||
|---|---|---|---|---|---|---|---|
| PEN | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | 10.8% | 8.4% | 14.8% | 18.9% | 11.8% | 4.7% | 35.5% |
| Annualized Volatility | 42.5% | 14.5% | 17.1% | 15.5% | 18.7% | 18.9% | 48.9% |
| Sharpe Ratio | 0.37 | 0.40 | 0.70 | 0.98 | 0.51 | 0.16 | 0.62 |
| Correlation With Other Assets | 38.0% | 41.0% | 8.8% | 7.2% | 34.8% | 18.6% | |
ETFs used for asset classes: Sector ETF = XLV, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Comparison of PEN With Other Asset Classes (Last 10Y) | |||||||
|---|---|---|---|---|---|---|---|
| PEN | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | 19.5% | 9.9% | 14.8% | 15.1% | 6.8% | 5.4% | 69.1% |
| Annualized Volatility | 42.2% | 16.6% | 18.0% | 14.8% | 17.6% | 20.8% | 55.8% |
| Sharpe Ratio | 0.57 | 0.49 | 0.71 | 0.85 | 0.31 | 0.23 | 0.90 |
| Correlation With Other Assets | 41.1% | 42.4% | 5.9% | 10.3% | 33.7% | 11.5% | |
ETFs used for asset classes: Sector ETF = XLV, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 11/5/2025 | 17.3% | 24.3% | 30.7% |
| 7/29/2025 | 11.9% | 5.7% | 17.5% |
| 2/18/2025 | 12.0% | 3.9% | 3.1% |
| 10/30/2024 | 8.3% | 10.6% | 15.5% |
| 7/30/2024 | -3.5% | -1.0% | 15.8% |
| 5/7/2024 | -3.3% | -0.6% | -6.5% |
| 2/22/2024 | -9.3% | -10.6% | -14.4% |
| 11/2/2023 | -0.2% | -7.3% | 15.3% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 10 | 10 | 10 |
| # Negative | 12 | 12 | 12 |
| Median Positive | 7.5% | 6.3% | 15.7% |
| Median Negative | -3.1% | -5.7% | -9.2% |
| Max Positive | 17.3% | 25.7% | 40.5% |
| Max Negative | -9.7% | -19.0% | -16.6% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 9302025 | 11052025 | 10-Q 9/30/2025 |
| 6302025 | 7292025 | 10-Q 6/30/2025 |
| 3312025 | 4232025 | 10-Q 3/31/2025 |
| 12312024 | 2182025 | 10-K 12/31/2024 |
| 9302024 | 10302024 | 10-Q 9/30/2024 |
| 6302024 | 7302024 | 10-Q 6/30/2024 |
| 3312024 | 5072024 | 10-Q 3/31/2024 |
| 12312023 | 2222024 | 10-K 12/31/2023 |
| 9302023 | 11022023 | 10-Q 9/30/2023 |
| 6302023 | 8012023 | 10-Q 6/30/2023 |
| 3312023 | 5022023 | 10-Q 3/31/2023 |
| 12312022 | 2232023 | 10-K 12/31/2022 |
| 9302022 | 11032022 | 10-Q 9/30/2022 |
| 6302022 | 8052022 | 10-Q 6/30/2022 |
| 3312022 | 5032022 | 10-Q 3/31/2022 |
| 12312021 | 2222022 | 10-K 12/31/2021 |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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