BTIG analyst Ryan Zimmerman initiated coverage with a Buy rating on Penumbra (PEN) today and set a price target of $291.00. The company’s shares closed last Thursday at $256.66.
According to TipRanks.com, Zimmerman is a 5-star analyst with an average return of 30.4% and a 58.4% success rate. Zimmerman covers the Healthcare sector, focusing on stocks such as Tactile Systems Technology, Organogenesis Holdings, and Zimmer Biomet Holdings.
Currently, the analyst consensus on Penumbra is a Strong Buy with an average price target of $319.40, representing a 27.0% upside. In a report issued on June 1, J.P. Morgan also maintained a Buy rating on the stock with a $315.00 price target.
See today’s analyst top recommended stocks >>
Penumbra’s market cap is currently $9.36B and has a P/E ratio of -1584.80. The company has a Price to Book ratio of 14.52.
Based on the recent corporate insider activity of 45 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 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.
