Equity Profile

PEN

Penumbra, Inc.

Health CareHealth Care Equipment$12.6B

Jul28Tue

Pre-Earnings Brief

UpcomingQ2-2026After Close5:00 PM EDT

Company Snapshot

Penumbra, Inc. is a healthcare company focused on developing innovative medical devices for neuro and peripheral vascular conditions....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of the company's profitability and will help gauge its financial health this quarter.

N/A

Revenue Growth

Revenue growth is essential to understand how well Penumbra is expanding its market presence and product adoption.

N/A

Wall Street expectations, options signals, track record, and call prep available with Pro.

PEN Q2-2026 Earnings Preview

Context

Company Snapshot

Penumbra, Inc. is a healthcare company focused on developing innovative medical devices for neuro and peripheral vascular conditions. With a market cap of $13 billion, it plays a crucial role in the healthcare equipment sector, addressing significant medical needs and improving patient outcomes.

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

88%

Avg EPS Surprise

+7.72%

Avg Stock Reaction

-0.78%

Last Quarter Recap

In Q1-2026, Penumbra reported an EPS of $0.82, which was significantly below the expected $1.11, resulting in a 25.93% surprise. The stock reacted slightly positively, gaining 0.10% the next day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Investors are cautiously optimistic about Penumbra's upcoming earnings, especially after the recent EPS miss. The market is looking for signs of recovery and growth in revenue.

Bull Case

If Penumbra can report better-than-expected EPS and show strong revenue growth, it could indicate a rebound in demand for its products, leading to a positive stock reaction.

Bear Case

Conversely, if the company misses expectations again, it could raise concerns about its market position and growth prospects, leading to a negative reaction.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will Penumbra's EPS exceed $1.00 this quarter?

A return to profitability above the $1.00 mark could restore investor confidence after the recent miss.

What are the revenue growth figures for the new product lines?

Strong revenue growth in new products could indicate successful market penetration and future profitability.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating Penumbra's ability to recover from its recent EPS miss, as the focus on new product lines could drive unexpected revenue growth.

Supporting Evidence

The options market is pricing a 19.6% move, suggesting significant uncertainty that could lead to an overreaction in either direction.

Penumbra has a strong history of beating EPS estimates, with an 88% success rate in the last eight quarters.

Key Risk

If the new product lines show strong adoption, it could significantly alter the growth narrative.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance is critical as it follows a significant EPS miss, and investors are keen to see if the company can bounce back.

Bull Confirmed If

Reporting an EPS of $1.00 or higher would confirm a recovery in profitability.

Bear Confirmed If

An EPS below $0.80 would signal ongoing challenges and could lead to further declines in stock price.

Pre-Earnings Positioning

Options Market

Implied Move

±19.6%

Historical Avg

±1.4%

Pricing rich

The options market is pricing in a significant move of nearly 20%, indicating heightened uncertainty around the earnings report.

Options are pricing ±19.6% while PEN has averaged ±1.4% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.6%

30d HV

11.1%

Calls (2K)P/C Ratio: 2.52Puts (32K)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter miss + options pricing rich in Health Care

n=30

Fade rate: 13 of 29 (45%)

This setup has occurred 30 times across Health Care in the last 2 years. 13 of 29 faded and 16 held — no strong directional bias after the initial reaction. The average absolute 1-day move is 3.6%, with a raw directional average of -1.3% (modestly negative historical bias).

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Penumbra beats expectations, history suggests the stock could rise, potentially confirming a recovery narrative.

In-Line / Cautious

If results are in line with expectations, the stock may experience a muted reaction as investors await clearer guidance.

Miss

Should the company miss expectations again, history indicates a potential decline in stock price, reflecting ongoing investor concerns.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on new product launches and their market reception.
2Management's commentary on cost management and profitability strategies.
3Insights into competitive pressures in the healthcare equipment sector.
4Guidance on future revenue expectations and market trends.
5Any discussion on regulatory changes that could impact operations.

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Company Snapshot

Penumbra, Inc. is a healthcare company focused on developing innovative medical devices for neuro and peripheral vascular conditions....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of the company's profitability and will help gauge its financial health this quarter.

N/A

Revenue Growth

Revenue growth is essential to understand how well Penumbra is expanding its market presence and product adoption.

N/A

Wall Street expectations, options signals, track record, and call prep available with Pro.

PEN Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

88%

Avg EPS Surprise

+7.72%

Avg Stock Reaction

-0.78%

Last Quarter Recap

In Q1-2026, Penumbra reported an EPS of $0.82, which was significantly below the expected $1.11, resulting in a 25.93% surprise. The stock reacted slightly positively, gaining 0.10% the next day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Investors are cautiously optimistic about Penumbra's upcoming earnings, especially after the recent EPS miss. The market is looking for signs of recovery and growth in revenue.

Bull Case

If Penumbra can report better-than-expected EPS and show strong revenue growth, it could indicate a rebound in demand for its products, leading to a positive stock reaction.

Bear Case

Conversely, if the company misses expectations again, it could raise concerns about its market position and growth prospects, leading to a negative reaction.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will Penumbra's EPS exceed $1.00 this quarter?

A return to profitability above the $1.00 mark could restore investor confidence after the recent miss.

What are the revenue growth figures for the new product lines?

Strong revenue growth in new products could indicate successful market penetration and future profitability.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating Penumbra's ability to recover from its recent EPS miss, as the focus on new product lines could drive unexpected revenue growth.

Supporting Evidence

The options market is pricing a 19.6% move, suggesting significant uncertainty that could lead to an overreaction in either direction.

Penumbra has a strong history of beating EPS estimates, with an 88% success rate in the last eight quarters.

Key Risk

If the new product lines show strong adoption, it could significantly alter the growth narrative.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance is critical as it follows a significant EPS miss, and investors are keen to see if the company can bounce back.

Bull Confirmed If

Reporting an EPS of $1.00 or higher would confirm a recovery in profitability.

Bear Confirmed If

An EPS below $0.80 would signal ongoing challenges and could lead to further declines in stock price.

Pre-Earnings Positioning

Options Market

Implied Move

±19.6%

Historical Avg

±1.4%

Pricing rich

The options market is pricing in a significant move of nearly 20%, indicating heightened uncertainty around the earnings report.

Options are pricing ±19.6% while PEN has averaged ±1.4% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.6%

30d HV

11.1%

Calls (2K)P/C Ratio: 2.52Puts (32K)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter miss + options pricing rich in Health Care

n=30

Fade rate: 13 of 29 (45%)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Penumbra beats expectations, history suggests the stock could rise, potentially confirming a recovery narrative.

In-Line / Cautious

If results are in line with expectations, the stock may experience a muted reaction as investors await clearer guidance.

Miss

Should the company miss expectations again, history indicates a potential decline in stock price, reflecting ongoing investor concerns.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on new product launches and their market reception.
2Management's commentary on cost management and profitability strategies.
3Insights into competitive pressures in the healthcare equipment sector.
4Guidance on future revenue expectations and market trends.
5Any discussion on regulatory changes that could impact operations.