Penumbra downgraded to Neutral from Overweight at JPMorgan

JPMorgan analyst Robbie Marcus downgraded Penumbra to Neutral from Overweight with a price target of $250, down from $284. The company’s Q4 came in below consensus, the first miss in its history as a public company, which came alongside guidance that fell short of what investors were expecting, the analyst tells investors in a research note. The firm says the outlook points to another back end loaded year, a similar trend to year’s past that Penumbra hasn’t been able to consistently execute off of.