Jefferies analyst Michael Sarcone has maintained their bullish stance on PEN stock, giving a Buy rating today.
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Michael Sarcone’s rating is based on Penumbra’s strong financial performance and promising growth prospects. The company reported robust fourth-quarter sales and exceeded market expectations in both sales and earnings per share, showcasing its operational efficiency and ability to capitalize on market opportunities. Notably, Penumbra’s US thrombectomy and venous thromboembolism (VTE) segments demonstrated significant growth, with VTE achieving a remarkable 41% year-over-year increase.
Furthermore, Penumbra’s guidance for fiscal year 2025 reflects a conservative yet optimistic outlook, projecting steady growth with anticipated sales between $1.34 billion and $1.36 billion. The company’s focus on product innovation, such as the Lightning Bolt 12 launch, and its strides in profitability, including a strong gross margin, reinforce its potential for sustained success. These factors, combined with strategic management decisions and anticipated market trends, underpin Sarcone’s Buy rating on Penumbra’s stock.
In another report released today, Canaccord Genuity also maintained a Buy rating on the stock with a $340.00 price target.