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ALAMEDA, Calif. - Penumbra, Inc. (NYSE:PEN), a $10.3 billion medical device company trading near its 52-week high of $310, announced Wednesday the promotion of Shruthi Narayan to President, effective September 1, 2025. Narayan will continue to report to Adam Elsesser, who will remain as chairman and chief executive officer.
Narayan, a 20-year medical device industry veteran, most recently served as president of Penumbra’s interventional business, overseeing the company’s neuro and vascular franchises. She joined Penumbra in 2013 as a product manager for the stroke franchise before helping build the peripheral vascular division. Prior to Penumbra, she worked at Medtronic beginning in 2006 in engineering, regulatory affairs, and cardiovascular sales.
"Shruthi is a dynamic, seasoned leader whose passion for innovation and proven ability to inspire global teams make her the obvious choice for this critical role," said Elsesser in the company’s press release.
Narayan holds a B.S. in Electrical Engineering from Anna University, India and a M.S. in Biomedical Engineering from University of Southern California, with a focus on Medical Device Commercialization.
Penumbra, which describes itself as focused on developing technologies for conditions such as ischemic stroke, venous thromboembolism and acute limb ischemia, operates in more than 100 countries globally. According to InvestingPro data, the company maintains strong financials with a 66.5% gross margin and robust revenue growth of ~13% over the last twelve months.
The announcement comes as the company continues its focus on blood clot removal technologies, including its computer assisted vacuum thrombectomy (CAVT) systems. InvestingPro analysis shows the company maintains excellent financial health with a current ratio of 6.75 and moderate debt levels, positioning it well for continued innovation in medical technology. Discover more insights and 13 additional ProTips about Penumbra’s outlook in the comprehensive Pro Research Report.
In other recent news, Penumbra Inc. reported its second-quarter 2025 earnings, surpassing both earnings per share (EPS) and revenue projections. The company posted an EPS of $0.86, exceeding the anticipated $0.83, and achieved a revenue of $339.5 million, above the expected $327.77 million. Following these results, UBS raised its price target for Penumbra to $335, maintaining a Buy rating due to the company’s solid growth. Penumbra’s quarterly sales represented a 13.4% year-over-year increase, exceeding Street estimates by 3.7%. Meanwhile, RBC Capital adjusted its price target for Penumbra to $325 from $330, maintaining an Outperform rating based on the company’s margin outlook. Penumbra also raised its 2025 revenue guidance, attributing this to strong peripheral vascular growth and above-market performance in its stroke business. These recent developments reflect the company’s robust financial performance and positive outlook.
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