Penumbra initiated with an Outperform at Oppenheimer

Oppenheimer initiated coverage of Penumbra (PEN) with an Outperform rating and $275 price target Penumbra is a leader in the mechanical thrombectomy market with a broad product portfolio across a number of segments including deep vein thrombosis, pulmonary embolism, ischemic stroke, and arterial, the analyst tells investors in a research note. The firm forecasts mid-teens sales growth and 30% earrings growth looking ahead led by share gains in still expanding core markets and expansion internationally.