Penumbra Inc (PEN) Receives a Rating Update from a Top Analyst


In a report released today, Jason Mills from Canaccord Genuity reiterated a Buy rating on Penumbra Inc (NYSE: PEN), with a price target of $175. The company’s shares opened today at $148.55.

According to TipRanks.com, Mills is a top 25 analyst with an average return of 31.7% and a 74.7% success rate. Mills covers the Healthcare sector, focusing on stocks such as Tactile Systems Technology, Boston Scientific Corp, and Staar Surgical Company.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Penumbra Inc with a $158.75 average price target.

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Based on Penumbra Inc’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $5.49 million. In comparison, last year the company had a GAAP net loss of $1.56 million.

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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Penumbra, Inc. engages in the design, development, manufacture, and marketing of innovative medical devices. It focuses on developing products for use by the specialist physicians, including interventional neuroradiologists, neurosurgeons, interventional neurologists, interventional radiologists, and vascular surgeons.

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