Penumbra Launches Reperfusion Catheters, Boosts Neuro Unit
Penumbra, Inc. PEN recently announced the launch of JET 7 and JET D Reperfusion Catheters in the United States. Notably, these reperfusion catheters have been powered by the Penumbra ENGINE aspiration source. The JET 7 and JET D along with the new ENGINE are part of the Penumbra System.
JET 7 and JET D Reperfusion Catheters in Detail
JET D Reperfusion Catheter is designed particularly for distal occlusions whereas JET 7 assists in the treatment of proximal large vessel occlusions. Notably, both the reperfusion catheters deliver deep vacuum aspiration power of the Penumbra ENGINE to help physicians extract thrombus efficiently and carefully in acute ischemic stroke patients.
Market Potential
Going by a report by Healthcare Market Research and Consulting Services, driven by increasing incidences of strokes, the global acute ischemic stroke diagnosis and treatment market is expected to see a CAGR of 5.3% between 2018 and 2023. In view of this, we believe the move taken by Penumbra is strategically aligned.
A Glimpse of the Neuro Unit
Over the past few quarters, Penumbra showcased consistent growth in Neuro arm banking on strong uptake of the Penumbra system for ischemic stroke. In the last-reported quarter, the company recorded 67.7% of its total revenues from the Neuro business.
Moreover, the company is actively implementing marketing strategies. Further, Penumbra is gaining from the extension of the stroke-treatment window from 6 to 24 hours. This in turn has led to an increase in the number of patients eligible for treatment.
Share Price Movement
Penumbra has been gaining investors’ confidence on consistently positive results. Over the past six months, shares of the company have outperformed its industry. The stock has rallied 17.7% against the industry’s 15.7% fall.
Zacks Rank & Key Picks
Penumbra currently carries a Zacks Rank #1 (Strong Buy)
Other top-ranked stocks in the broader medical space are Integer Holdings Corporation ITGR, Intuitive Surgical ISRG and Masimo Corporation MASI.
Integer Holdings’ expected long-term earnings growth rate is 15%. The stock has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Intuitive Surgical’s long-term expected earnings growth rate is 14.7%. The stock carries a Zacks Rank #2.
Masimo’s long-term expected earnings growth rate is 14.8%. The stock has a Zacks Rank #2.
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