William Blair downgraded Penumbra (PEN) to Market Perform from Outperform without a price target after Boston Scientific (BSX) entered an agreement to acquire Penumbra in a cash and stock transaction valued at $14.5 billion, or $374 per share. The price paid reflects a fair takeout valuation given Penumbra’s growth profile and margin trajectory, the analyst tells investors in a research note.
Claim 50% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PEN:
- Morning Movers: Morgan Stanley and Goldman Sachs lower following Q4 results
- Video: TSMC outlook gives boost to AI trade
- Penumbra Announces Strong Preliminary Revenue Growth for 2025
- Penumbra up 11% to $348 after Boston Scientific buyout offer
- Penumbra sees FY25 revenue $1.401B-$1.403B, consensus $1.38B