TacticScaleWhat Penumbra Does & How It Makes Money (PEN)
Updated October 2026 · reflects Penumbra's latest reported financials
Medical device maker of clot-removal and blood vessel-blocking systems. It sells thrombectomy systems, catheters, embolization coils and neurosurgical tools to hospitals and physicians, through its own direct sales teams and through distributors in the U.S.
How Penumbra makes money
It sells thrombectomy systems, catheters, embolization coils and neurosurgical tools to hospitals and physicians, through its own direct sales teams and through distributors in the U.S. and internationally.
What Penumbra does
Penumbra, Inc., founded in 2004 and based in Alameda, California, makes minimally invasive medical devices for vascular and neurological conditions. Its main business is thrombectomy, which means removing blood clots. Products include computer-assisted vacuum thrombectomy, the Indigo System for power aspiration of clots in the body, the Lightning Flash and Lightning Bolt 7 systems, and the Penumbra System, which pairs reperfusion catheters with aspiration pumps for clots in the brain. The portfolio also covers access and delivery catheters (Neuron, BENCHMARK, MIDWAY and others), neuro embolization coils for aneurysms (Penumbra SMART COIL, SwiftPAC and others), peripheral embolization products (Ruby, POD, LANTERN) and the Artemis device for neurosurgery. Penumbra sells to hospitals and physicians in the U.S. and abroad through direct sales teams and distributors.
Products & services
- Indigo System
- Lightning Flash
- Lightning Bolt 7
- Penumbra System (RED, JET, ACE, ENGINE)
- Ruby Embolization Platform
- Artemis Neuro Evacuation Device
What is Penumbra worth?
On an owner-earnings DCF, Penumbra's most-likely value is about $294 versus a recent price near $319 (8% above fair value). But TacticScale only calls a stock undervalued when the price sits below its conservative no-growth floor (~$61) with a margin of safety — so the honest verdict here is “Fairly priced — no edge.” Fair value earns its keep only at the extremes, not in the wide middle.
Price sits in the normal range — fair value isn't actionable here; it earns its keep only when price drops below the no-growth floor, or runs to roughly double the optimistic case.
Analysis, not advice. Fair value is a margin-of-safety estimate from a deterministic owner-earnings DCF, not a price target or recommendation. See the full breakdown →
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