Analyst Mike Kratky from Leerink Partners reiterated a Buy rating on Penumbra (PEN – Research Report) and increased the price target to $327.00 from $313.00.
Mike Kratky has given his Buy rating due to a combination of factors that highlight Penumbra’s strong performance and growth potential. The company reported impressive first-quarter results, with adjusted sales and earnings per share exceeding consensus expectations. A significant driver of this performance was the robust growth in the U.S. Venous Thromboembolism (VTE) segment, which saw a slight acceleration in growth compared to the previous quarter.
Penumbra’s strategic focus on the U.S. market, which constitutes a substantial portion of its revenue, minimizes its exposure to global macroeconomic challenges. The company’s ability to source the majority of its raw materials domestically further strengthens its position. Additionally, Penumbra is poised for continued growth with a favorable earnings outlook for 2025, driven by key catalysts and expanding operating margins. These factors collectively support Kratky’s confidence in Penumbra as a compelling growth story within the MedTech sector.
In another report released yesterday, BTIG also maintained a Buy rating on the stock with a $320.00 price target.
PEN’s price has also changed dramatically for the past six months – from $206.550 to $298.250, which is a 44.40% increase.