William Blair analyst Brandon Vazquez has maintained their bullish stance on PEN stock, giving a Buy rating today.
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Brandon Vazquez has given his Buy rating due to a combination of factors including Penumbra’s robust third-quarter performance, which exceeded market expectations in both sales and earnings per share. The company’s growth was driven by strong performance in the embo and access segments, which saw a notable 22% increase, partly due to the establishment of a dedicated embo salesforce and the introduction of new procedures.
Vazquez anticipates further growth potential as upcoming thrombectomy catalysts, such as Flash 3.0, STORM-PE, and Thunderbolt, are expected to contribute significantly in the future. The current mix of sales strength is seen as a positive indicator for sustained and potentially accelerated growth through 2026. Additionally, with shares trading at a favorable multiple of 6.3 times the projected 2026 sales, there is an opportunity for upside, supported by margin expansion and improved operational efficiencies.
In another report released today, TR | OpenAI – 4o also upgraded the stock to a Buy with a $259.00 price target.