BTIG Reaffirms Their Hold Rating on Penumbra (PEN)

In a report released yesterday, Ryan Zimmerman from BTIG maintained a Hold rating on Penumbra (PENResearch Report). The company’s shares closed last Tuesday at $288.93, close to its 52-week high of $314.22.

According to TipRanks.com, Zimmerman is a top 100 analyst with an average return of 40.6% and a 66.7% success rate. Zimmerman covers the Healthcare sector, focusing on stocks such as Tactile Systems Technology, Staar Surgical Company, and Zimmer Biomet Holdings.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Penumbra with a $315.00 average price target.

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Based on Penumbra’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $167 million and net profit of $3.65 million. In comparison, last year the company earned revenue of $145 million and had a net profit of $9.69 million.

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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.