When a company is making smart moves to show it can grow and expand into new markets while keeping up with the pace of technology, it often earns the attention of investors. In the case of Penumbra (NYSE: PEN) , it recently led to more attention from the iShares U.S. Medical Devices ETF (NYSEMKT: IHI) .
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Penumbra is by no means new to the game. The company has been around since 2004, specializing in medical devices with a primary focus on interventional therapies to treat vascular conditions such as stroke and aneurism. On its fourth quarter earnings call for 2020, the company proudly boasted consecutive quarters with record sales. Q4 revenue came in at $166.9 million, increasing about 15% from 2019. What's more is that those already fantastic results include a $5.8 million reduction due to a recall (more on that later).
For further details see:
This Medical Device Company Just Got a Big Boost