Cautious Hold on Penumbra Despite Strong Q1 Performance and Promising Thunderbolt Prospects

Needham analyst Michael Matson has maintained their neutral stance on PEN stock, giving a Hold rating on April 15.

Michael Matson has given his Hold rating due to a combination of factors, despite Penumbra’s strong performance in the first quarter of 2025. The company exceeded expectations in both revenue and earnings per share, and management has maintained its revenue guidance for the year, with a slight increase in the U.S. Thrombectomy guidance. Additionally, Penumbra has shown significant improvement in its thrombectomy and Embolization and Access segments, with growth rates accelerating compared to the previous quarter.
However, Matson’s Hold rating reflects caution primarily due to Penumbra’s current valuation. While the company has submitted data for regulatory clearance of its Thunderbolt product, the lack of clarity on the launch timeline and data presentation details contributes to the cautious stance. Matson anticipates that the Thunderbolt data and its eventual launch could serve as significant catalysts for the stock, but until more information is available, he maintains a neutral position.

In another report released on April 15, Morgan Stanley also maintained a Hold rating on the stock with a $260.00 price target.