The EPS miss and declining net income YoY are notable, but the revenue beat and strong thrombectomy growth (especially U.S. VTE at +26%) show solid operational performance. The pending Boston Scientific acquisition overhangs all results and limits guidance. Monitor for regulatory updates on the merger close.
Price Chart
Executive Summary
Revenue beat consensus, but EPS missed. The company continues to not provide guidance due to the pending acquisition by Boston Scientific. Thrombectomy revenue grew 18.1% YoY, driven by 26.0% growth in U.S. VTE revenue.
Key Financial Metrics
Key Facts
- Q3 2026 revenue of $410.1M, up 15.6% YoY from $354.7M
- Revenue beat consensus of $400.1M; EPS missed consensus of $1.18
- Global thrombectomy revenue $279.2M, up 18.1% YoY; U.S. VTE revenue up 26.0%
- Global embolization and access revenue $131.0M, up 10.8% YoY
- Gross margin 68.3%, up 50 bps YoY
- Operating income $50.7M vs $48.8M in Q3 2025
- Net income $42.3M vs $45.9M in Q3 2025
- No guidance provided due to pending Boston Scientific acquisition
- Acquisition-related expenses of $7.1M in Q3 2026
Financial Impact
Revenue beat consensus by $10.0M (2.5%); EPS missed by $0.11 (9.3%)
Segment Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| Thrombectomy | $279.2M | +18.1% |
| Embolization and Access | $131.0M | +10.8% |
Risk Factors
- Pending Boston Scientific acquisition may not close in expected timeframe or at all
- Net income declined YoY despite revenue growth, partly due to higher SG&A and acquisition-related costs
- No financial guidance provided for the remainder of 2026
- Higher tax rate (24.9% vs 12.4% in Q3 2025) reduced net income
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001321732-26-000042 |
| Document: pen-20261029.htm | 0001321732-26-000042 |
| Document: 0001321732-26-000042-index-headers.html | 0001321732-26-000042 |
| Document: 0001321732-26-000042-index.html | 0001321732-26-000042 |
| Document: 0001321732-26-000042.txt | 0001321732-26-000042 |
| 8-K Data (Synthetic) | 0001321732-26-000042 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 29, 2026 3d ago | 8-K | No price | awaiting T+60 | awaiting T+60 | No price |
Oct 29, 2026 3d ago | Press Release | $321.97 | awaiting T+60 | awaiting T+60 | $318.95 (−0.94%) |
Jul 30, 2026 13w ago | Press Release | $321.19 $325.22 | ▼ −1.25% | ▲ +1.20% | $318.95 (+0.70%) |
May 7, 2026 25w ago | 425 | $324.65 $323.02 | ▼ −0.50% | ▼ −4.34% | $318.95 (−1.76%) |
May 6, 2026 25w ago | 8-K | $324.65 $323.02 | ▲ +0.50% | ▲ +4.34% | $318.95 (+1.76%) |
Apr 29, 2026 26w ago | DEFA14A | $326.48 $319.49 | ▼ −2.14% | ▼ −5.25% | $318.95 (−2.31%) |
Apr 17, 2026 28w ago | 425 | $329.71 $316.73 | ▼ −3.94% | ▼ −10.71% | $318.95 (−3.26%) |
Apr 1, 2026 30w ago | DEFM14A | $330.36 $315.75 | ▼ −4.42% | ▼ −18.58% | $318.95 (−3.45%) |
Feb 25, 2026 35w ago | 8-K | $338.67 $327.38 | ▼ −3.33% | ▼ −10.28% | $318.95 (−5.82%) |
US Market Status
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