In a report released today, William Plovanic from Canaccord Genuity maintained a Buy rating on Penumbra (PEN – Research Report), with a price target of $340.00.
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William Plovanic has given his Buy rating due to a combination of factors including Penumbra’s strong financial performance and promising growth prospects. The company reported a robust fourth quarter with revenues exceeding expectations, driven by notable growth in its US thrombectomy business and the adoption of its Flash 2.0 technology. Furthermore, Penumbra’s 2025 revenue guidance, while conservative, surpasses its own expectations and suggests potential upside, particularly with the anticipated contribution from the Thunderbolt product.
Additionally, Penumbra’s commitment to improving profitability is evident through its projected gross and operating margin expansions. The company’s strategic move to expand manufacturing capacity to Costa Rica further underscores its dedication to enhancing margins. These factors, coupled with potential advancements in its product pipeline, present a strong setup for future growth, leading Plovanic to reiterate a Buy rating and adjust the price target upward.
According to TipRanks, Plovanic is a 4-star analyst with an average return of 3.4% and a 46.74% success rate. Plovanic covers the Healthcare sector, focusing on stocks such as Nevro Corp, TransMedics Group, and CVRx.
In another report released today, Wells Fargo also maintained a Buy rating on the stock with a $305.00 price target.