Penumbra down after cutting annual revenue forecast

Penumbra

31/07/2024 11:36

** Shares of medical device maker Penumbra  PEN.N  fall
~20.6% to $137.50 premarket
    ** PEN forecasts annual revenue between $1.18 bln and $1.2
bln, compared with its previous expectation of $1.23 bln to
$1.27 bln
    ** Company's Q2 revenue at $299.4 mln vs analysts' average
expectation of $298.4 mln - LSEG data
    ** At least six brokerages cut PT on PEN after its quarterly
results late on Tuesday
    ** Up to last close, stock down 31.2% YTD

 (Reporting by Christy Santhosh)
 ((Christy.Santhosh@thomsonreuters.com))