Yahoo Finance PEN Stock to Gain From CE Mark Approval for its CAVT Technologies
Alameda, CA-based Penumbra, Inc. PEN has secured the CE Mark in Europe for its newest computer-assisted vacuum thrombectomy (CAVT) technologies, Lightning Flash 2.0 and Lightning Bolt 7. Lightning Flash 2.0 is the most advanced mechanical thrombectomy system available to address venous and pulmonary thrombus while the Lightning Bolt 7 stands out as the most powerful arterial thrombectomy system in the market.
The latest innovations further enhance the company’s neuro and vascular portfolios.
Likely Trend of PEN Stock Following the Announcement
Following the news, shares of PEN inched up 0.4% to $187.65 at yesterday’s close. With thrombectomy procedures gaining fast popularity globally, Penumbra has been witnessing market share gains, banking on strong customer uptake of its Lightning Bolt and Flash lines.
The latest development is likely to boost European physicians’ trust in considering CAVT as a valuable first-line option to manage conditions such as pulmonary embolism (PE), venous thrombosis and other severe cases. Henceforth, we expect the market sentiment toward the stock to remain positive, driven by this development.
More on Penumbra’s Latest CAVT Technologies
Lightning Flash 2.0 features Penumbra’s Lightning Intelligent Aspiration technology with the latest dual clot detection algorithms, using both pressure and flow-based processes to detect blood clots and blood flow. The catheter is made with MaxID hypotube technology, allowing an inner diameter similar to large-bore catheters while maintaining a lower profile and a soft, atraumatic tip design.
The design facilitates the removal of blood clots with speed, safety and simplicity, allowing physicians to navigate the body’s complex anatomy and deliver high-power aspiration for clot removal with minimal blood loss.
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Lightning Bolt 7 uses a new method for removing blood clots called modulated aspiration, which pairs the Lightning Intelligent Aspiration technology with an advanced microprocessor algorithm. When combined, the system is designed to rapidly remove large, fibrous blood clots in the arteries with minimal blood loss, addressing conditions such as acute limb ischemia , hibernating thrombus and visceral occlusions.
Lightning Bolt 7 is engineered to detect the difference between blood clots and blood flow. Additionally, it is designed to break the friction between the catheter and clot by having the computer algorithms rapidly modulate aspiration to quickly fatigue the thrombus and remove the clot from the arteries.
Industry Prospects Favoring Penumbra
A report from Precedence Research valued the thrombectomy devices market at $1.52 billion in 2023 and predicted it to witness a compound annual growth rate of 7.33% through 2033.
The market growth is fueled by the rising incidences of cardiovascular diseases among an aging population, leading to an increasing demand for thrombectomy procedures. Additionally, the devices help prevent life-threatening diseases like stroke, PE and heart attack, among others.
Penumbra’s Other Developments
In June 2024, Penumbra announced the CE Mark and European launch of two advanced neuro access offerings, BMX 81 and BMX 96, designed for neurovascular management of ischemic and hemorrhagic stroke. The announcement follows the launch of three new RED reperfusion catheters (RED 43, RED 72 with SENDit Technology and RED 78) earlier in May.
PEN Stock’s Price Performance
In the past year, PEN’s shares have declined 29.4% against the industry’s 17.6% growth.
PEN’s Zacks Rank and Key Picks
Penumbra currently carries a Zacks Rank #5 (Strong Sell).
Some better-ranked stocks in the broader medical space are Boston Scientific BSX, AxoGen AXGN, and SiBone SIBN, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Boston Scientific’s shares have risen 57.5% in the past year. Estimates for the company’s earnings per share have remained constant at $2.40 in 2024 and $2.71 in 2025 in the past 30 days. BSX’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 7.2%. In the last reported quarter, it posted an earnings surprise of 6.9%.
Estimates for AxoGen’s 2024 loss per share have remained constant at 1 cent in the past 30 days. Shares of the company have surged 165.9% in the past year compared with the industry’s 17.6% growth. AXGN’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 96.5%. In the last reported quarter, it delivered an earnings surprise of 200%.
Estimates for SiBone’s 2024 loss per share have remained constant at 89 cents in the past 30 days. Shares of the company lost 31.4% in the past year against the industry’s 17.6% growth. SIBN’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 13.4%. In the last reported quarter, it delivered an earnings surprise of 15.4%.
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