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Penumbra (PEN) Launches New Technology for Blood Clot Removal
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Penumbra, Inc. (PEN - Free Report) announced the launch of its Lightning Bolt 7 technology, designed to rapidly remove blood clots with modulated aspiration. The new technology is part of Penumbra's computer-aided thrombectomy offerings that combine advanced imaging and artificial intelligence with minimally invasive devices to treat stroke and other vascular conditions.
The Lightning Bolt 7 technology features a new aspiration technology, coupled with an advanced microprocessor algorithm that can detect the difference between blood clot and blood flow. The system provides modulated aspiration at the tip of the catheter, enabling faster and more efficient clot removal.
The system is designed to offer a safety profile that, when combined with the clot removal speed and efficiency, will promote an endovascular-first approach for a broader range of cases before considering open surgery. The Lightning Bolt 7 technology is compatible with Penumbra's existing arterial catheters, which are made using MaxID hypotube technology.
The new system provides a critical frontline option for physicians to treat patients suffering from acute limb ischemia, hibernating thrombus and visceral occlusions with minimal blood loss.
Penumbra received approval for the Lightning Bolt 7 technology in the United States in March 2023. This technology is the most advanced arterial thrombectomy system currently available in the market. It combines modulated aspiration with superior catheter design, maximizing blood clot removal in a single session.
Recent Developments
PEN exited the first quarter of 2023 on a solid note, with both earnings and revenues beating estimates. The company’s vascular and neuro product categories showed encouraging growth trends.
Revenues of $241.4 million in the reported quarter were up 18.4% from the prior-year period’s level. This indicated a 16.3% and 21.5% improvement in sales of vascular products and neuro products, respectively, year over year.
Although currency movements continue to affect the top line, the impact is expected to become favorable in the second half of 2023.
Merit Medical Systems has an estimated long-term growth rate of 11%. The company’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 20.22%.
So far this year, MMSI’s shares have risen 18.9% compared with the industry’s 8.7% growth.
West Pharmaceutical Services has an estimated long-term growth rate of 6.3%. Its earnings surpassed estimates in three of the trailing four quarters and missed the same once, the average surprise being 13.61%.
So far this year, WST’s shares have rallied 49.1% compared with the industry’s 8.7% growth.
Perrigo’s earnings are expected to improve 24.6% in 2023. The strong momentum is likely to continue in 2024 as well. PRGO’s earnings surpassed estimates in two of the trailing four quarters and missed the same twice, the average negative surprise being 0.79%.
The company’s shares have lost 11.5% year to date against the industry’s 4.8% growth.
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Penumbra (PEN) Launches New Technology for Blood Clot Removal
Penumbra, Inc. (PEN - Free Report) announced the launch of its Lightning Bolt 7 technology, designed to rapidly remove blood clots with modulated aspiration. The new technology is part of Penumbra's computer-aided thrombectomy offerings that combine advanced imaging and artificial intelligence with minimally invasive devices to treat stroke and other vascular conditions.
The Lightning Bolt 7 technology features a new aspiration technology, coupled with an advanced microprocessor algorithm that can detect the difference between blood clot and blood flow. The system provides modulated aspiration at the tip of the catheter, enabling faster and more efficient clot removal.
The system is designed to offer a safety profile that, when combined with the clot removal speed and efficiency, will promote an endovascular-first approach for a broader range of cases before considering open surgery. The Lightning Bolt 7 technology is compatible with Penumbra's existing arterial catheters, which are made using MaxID hypotube technology.
The new system provides a critical frontline option for physicians to treat patients suffering from acute limb ischemia, hibernating thrombus and visceral occlusions with minimal blood loss.
Penumbra received approval for the Lightning Bolt 7 technology in the United States in March 2023. This technology is the most advanced arterial thrombectomy system currently available in the market. It combines modulated aspiration with superior catheter design, maximizing blood clot removal in a single session.
Recent Developments
PEN exited the first quarter of 2023 on a solid note, with both earnings and revenues beating estimates. The company’s vascular and neuro product categories showed encouraging growth trends.
Revenues of $241.4 million in the reported quarter were up 18.4% from the prior-year period’s level. This indicated a 16.3% and 21.5% improvement in sales of vascular products and neuro products, respectively, year over year.
Although currency movements continue to affect the top line, the impact is expected to become favorable in the second half of 2023.
Penumbra, Inc. Price
Penumbra, Inc. price | Penumbra, Inc. Quote
Zacks Rank & Other Key Picks
Penumbra currently sports a Zacks #1 Rank (Strong Buy).
Some other top-ranked stocks from the broader medical space are Merit Medical Systems (MMSI - Free Report) , West Pharmaceutical Services (WST - Free Report) and Perrigo (PRGO - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Merit Medical Systems has an estimated long-term growth rate of 11%. The company’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 20.22%.
So far this year, MMSI’s shares have risen 18.9% compared with the industry’s 8.7% growth.
West Pharmaceutical Services has an estimated long-term growth rate of 6.3%. Its earnings surpassed estimates in three of the trailing four quarters and missed the same once, the average surprise being 13.61%.
So far this year, WST’s shares have rallied 49.1% compared with the industry’s 8.7% growth.
Perrigo’s earnings are expected to improve 24.6% in 2023. The strong momentum is likely to continue in 2024 as well. PRGO’s earnings surpassed estimates in two of the trailing four quarters and missed the same twice, the average negative surprise being 0.79%.
The company’s shares have lost 11.5% year to date against the industry’s 4.8% growth.