Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Penumbra, Inc. reported its financial results for the third quarter of 2025, delivering solid performance across its business segments.</li><li>The company achieved a total revenue of $354.7 million, marking a year-over-year increase of 17.8% on a reported basis and 16.9% in constant currency.</li><li>This growth illustrates progress in executing Penumbra's strategy and enhancing its technological and market position.</li></ul>

Penumbra, Inc. reported its financial results for the third quarter of 2025, delivering solid performance across its business segments.The company achieved a total revenue of $354.7 million, marking a year-over-year increase of 17.8% on a reported basis and 16.9% in constant currency.This growth illustrates progress in executing Penumbra's strategy and enhancing its technological and market position.

Penumbra Ignites a Pulmonary Embolism Breakthrough—Hospitals Are Racing to Adopt It!

<ul><li>Penumbra's second quarter results reflect significant execution across multiple areas, showing both strengths and challenges that contribute to the overall investment thesis for the company.</li><li>The company's revenue reached $339.5 million, a 13.4% increase year-over-year on a reported basis and 12.7% in constant currency, highlighting strong underlying growth.</li><li>This growth was driven by robust performance in the U.S. thrombectomy business, especially in the venous thromboembolism (VTE) sector, which saw an impressive 42% year-over-year growth, due to adoption of innovative products like the Flash 2.0 and Bolt 12.</li></ul>

Penumbra's second quarter results reflect significant execution across multiple areas, showing both strengths and challenges that contribute to the overall investment thesis for the company.The company's revenue reached $339.5 million, a 13.4% increase year-over-year on a reported basis and 12.7% in constant currency, highlighting strong underlying growth.This growth was driven by robust performance in the U.S. thrombectomy business, especially in the venous thromboembolism (VTE) sector, which saw an impressive 42% year-over-year growth, due to adoption of innovative products like the Flash 2.0 and Bolt 12.

Penumbra Inc.: Thrombectomy Business Expansion As a Significant Driver For Overall Market Share Growth!

<ul><li>Penumbra, Inc. reported its first-quarter 2025 financial results, demonstrating both positive and negative aspects of its performance.</li><li>On the positive side, the company reported total revenue of $324.1 million, marking a year over-year growth of 16.3% on a reported basis and 16.9% on a constant currency basis.</li><li>This growth was driven by robust performance in the U.S. thrombectomy business, which saw a 25% increase in revenue to $187.9 million.</li></ul>

Penumbra, Inc. reported its first-quarter 2025 financial results, demonstrating both positive and negative aspects of its performance.On the positive side, the company reported total revenue of $324.1 million, marking a year over-year growth of 16.3% on a reported basis and 16.9% on a constant currency basis.This growth was driven by robust performance in the U.S. thrombectomy business, which saw a 25% increase in revenue to $187.9 million.

Penumbra Inc.: Can Its Innovation & Product Pipeline Foster Long-Term Growth & Competitiveness?

<ul><li>Penumbra's fourth-quarter and full-year 2024 earnings reveal a company that continues to prioritize its thrombectomy business, showcasing impressive growth figures in the U.S. market while dealing with challenges in international operations.</li><li>The company's non-GAAP revenue for Q4 2024 was $321.3 million, reflecting a 12.9% year-over-year increase on an adjusted basis, excluding the Italian payback adjustment.</li><li>When looking at the full year, Penumbra's revenue reached over $1.2 billion, signifying a 13.4% increase compared to 2023.</li></ul>

Penumbra's fourth-quarter and full-year 2024 earnings reveal a company that continues to prioritize its thrombectomy business, showcasing impressive growth figures in the U.S. market while dealing with challenges in international operations.The company's non-GAAP revenue for Q4 2024 was $321.3 million, reflecting a 12.9% year-over-year increase on an adjusted basis, excluding the Italian payback adjustment.When looking at the full year, Penumbra's revenue reached over $1.2 billion, signifying a 13.4% increase compared to 2023.

Penumbra Inc.: Will Its Market Penetration & Access Initiatives Help Capture The Thrombectomy Market?

<ul><li>Penumbra reported a solid performance in its third quarter of 2024, with total revenue of $301 million, marking an 11.1% increase year-over-year on a reported basis, and 10.9% in constant currency.</li><li>The results show robust growth in the U.S. thrombectomy business, which rose by 21.2% year-over-year, driven significantly by advancements in their catheter technology, particularly with the Lightning Flash 2.0 and Lightning Bolt 7 products.</li><li>Despite this robust growth in the U.S., the company faced challenges internationally, with revenues decreasing slightly by 1.9% reported due to a notable reduction in sales within China.</li></ul>

Penumbra reported a solid performance in its third quarter of 2024, with total revenue of $301 million, marking an 11.1% increase year-over-year on a reported basis, and 10.9% in constant currency.The results show robust growth in the U.S. thrombectomy business, which rose by 21.2% year-over-year, driven significantly by advancements in their catheter technology, particularly with the Lightning Flash 2.0 and Lightning Bolt 7 products.Despite this robust growth in the U.S., the company faced challenges internationally, with revenues decreasing slightly by 1.9% reported due to a notable reduction in sales within China.

Penumbra Inc.: An Insight Into Its Margin Expansion Opportunities & Other Major Drivers

United States

Penumbra, Inc. designs, develops, manufactures, and markets medical devices. The Company offers peripheral vascular and neurovascular devices that help patients suffering from stroke and other neurovascular diseases. Penumbra operates in the United States.

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Penumbra (PEN US)

Penumbra Ignites a Pulmonary Embolism Breakthrough—Hospitals Are Racing to Adopt It!

Penumbra, Inc. reported its financial results for the third quarter of 2025, delivering solid performance across its business segments. The...

Baptista Research

Penumbra Inc.: Can Its Innovation & Product Pipeline Foster Long-Term Growth & Competitiveness?

Penumbra, Inc. reported its first-quarter 2025 financial results, demonstrating both positive and negative aspects of its performance. On the...

Baptista Research

Penumbra Inc.: Will Its Market Penetration & Access Initiatives Help Capture The Thrombectomy Market?

Penumbra's fourth-quarter and full-year 2024 earnings reveal a company that continues to prioritize its thrombectomy business, showcasing...

Baptista Research

Penumbra Inc.: An Insight Into Its Margin Expansion Opportunities & Other Major Drivers

Penumbra reported a solid performance in its third quarter of 2024, with total revenue of $301 million, marking an 11.1% increase year-over-year...

Baptista Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Penumbra Ignites a Pulmonary Embolism Breakthrough—Hospitals Are Racing to Adopt It!

Penumbra, Inc. reported its financial results for the third quarter of 2025, delivering solid performance across its business segments. The...

Baptista Research

Penumbra Inc.: Thrombectomy Business Expansion As a Significant Driver For Overall Market Share Growth!

Penumbra's second quarter results reflect significant execution across multiple areas, showing both strengths and challenges that contribute to...

Baptista Research

Penumbra Inc.: Can Its Innovation & Product Pipeline Foster Long-Term Growth & Competitiveness?

Penumbra, Inc. reported its first-quarter 2025 financial results, demonstrating both positive and negative aspects of its performance. On the...

Baptista Research

Penumbra Inc.: Will Its Market Penetration & Access Initiatives Help Capture The Thrombectomy Market?

Penumbra's fourth-quarter and full-year 2024 earnings reveal a company that continues to prioritize its thrombectomy business, showcasing...

Baptista Research

Penumbra Inc.: An Insight Into Its Margin Expansion Opportunities & Other Major Drivers

Penumbra reported a solid performance in its third quarter of 2024, with total revenue of $301 million, marking an 11.1% increase year-over-year...

Baptista Research