Penumbra price target lowered to $305 from $308 at BTIG

BTIG lowered the firm’s price target on Penumbra (PEN) to $305 from $308 and keeps a Buy rating on the shares as part of a broader research note previewing Q1 results in the MedTech space. The sector had been seen as a safe haven, but quarterly results will matter less than a company’s ability to navigate ahead, the analyst tells investors in a research note. Between a frenetic trade war largely now directed at China to cuts at many federal healthcare agencies, investors will want answers which companies may not be able to provide, and this may weigh on sentiment, the firm adds.