Analyst Explains Why They Downgraded Their Rating on Penumbra (PEN)

Penumbra (PENResearch Report) received a Hold rating from BTIG analyst Ryan Zimmerman today. The company’s shares closed last Tuesday at $188.82.

According to, Zimmerman is a 5-star analyst with an average return of 15.9% and a 61.8% success rate. Zimmerman covers the Healthcare sector, focusing on stocks such as Tactile Systems Technology, Zimmer Biomet Holdings, and Staar Surgical Company.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Penumbra with a $283.50 average price target.

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Penumbra’s market cap is currently $6.93B and has a P/E ratio of -702.40. The company has a Price to Book ratio of 11.41.

Based on the recent corporate insider activity of 59 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PEN in relation to earlier this year.

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Penumbra, Inc. engages in the design, development, manufacture, and marketing of innovative medical devices. It offers thrombectomy, embolization, access, neurosurgical tools, ruby coil system, lantern, penumbra occlusion device (POD) system, packing coil, and indigo systems products. Its target markets include interventional neuroradiologists, neurosurgeons, and interventional neurologists; and interventional radiologists, vascular surgeons, and interventional cardiologists. The company was founded by Arani Bose and Adam Elsesser on June 21, 2004 and is headquartered in Alameda, CA.