William Blair analyst Margaret Kaczor has maintained their bullish stance on PEN stock, giving a Buy rating on April 15.
Margaret Kaczor’s rating is based on Penumbra’s strong performance in the U.S. thrombectomy market, where sales exceeded expectations and demonstrated significant growth. The company’s ability to expand margins and leverage operations effectively, especially after exiting immersive healthcare, has resulted in a notable earnings per share beat. This positive start to the year has led management to maintain their sales growth forecast and even raise their guidance for U.S. thrombectomy, despite not yet including potential contributions from the Thunderbolt product.
Looking forward, Kaczor is optimistic about Penumbra’s future due to several factors. The company has shown consistent growth in U.S. VTE sales and is in the early stages of launching several new CAVT products. Additionally, Penumbra benefits from limited tariff exposure and is somewhat insulated from broader macroeconomic impacts due to the nature of its procedures. With shares trading at a reasonable multiple of future sales estimates and a strategic approach to guidance, there is potential for further stock appreciation as the company continues to execute its strategy.
In another report released on April 15, RBC Capital also maintained a Buy rating on the stock with a $315.00 price target.