In a report released today, Michael Matson from Needham upgraded Penumbra to a Buy, with a price target of $326.00.
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Michael Matson has given his Buy rating due to a combination of factors that suggest significant growth potential for Penumbra. The anticipated launch of Thunderbolt is expected to nearly double the company’s revenue per stroke procedure, which should lead to robust growth in the neuro thrombectomy segment and improve gross margins. Additionally, the positive results from the STORM-PE trial and the easing of challenges in the Chinese market are likely to contribute to revenue growth.
Furthermore, the introduction of the Ruby XL is another catalyst expected to drive revenue. Matson also foresees an improvement in Penumbra’s operating margins, which could result in a significant upside to the 2026 earnings per share estimates. Overall, the combination of rising revenue and earnings projections, along with the potential for multiple expansions, supports the Buy rating for Penumbra’s stock.
In another report released yesterday, Evercore ISI also maintained a Buy rating on the stock with a $285.00 price target.