Kallum Titchmarsh, an analyst from Morgan Stanley, maintained the Hold rating on Penumbra (PEN – Research Report). The associated price target remains the same with $260.00.
Kallum Titchmarsh has given his Hold rating due to a combination of factors related to Penumbra’s performance and market position. The company has shown significant growth in its US VTE thrombectomy business, with revenues increasing substantially from 2022 to 2024. However, the need for Penumbra to continue capturing market share to meet its 2025 targets introduces an element of uncertainty.
Additionally, while Penumbra’s arterial thrombectomy segment is also growing and benefiting from new product launches, the overall market dynamics and competitive landscape require careful consideration. The changes in the company’s reporting structure have made it challenging for investors to assess performance across different segments, adding complexity to the investment decision. These factors collectively contribute to the Hold rating, suggesting that while there is potential for growth, there are also risks that investors should be mindful of.
In another report released on February 19, J.P. Morgan also maintained a Hold rating on the stock with a $285.00 price target.
PEN’s price has also changed dramatically for the past six months – from $204.040 to $286.380, which is a 40.35% increase.