Penumbra price target lowered to $200 from $230 at Truist

Truist analyst Richard Newitter lowered the firm’s price target on Penumbra to $200 from $230 and keeps a Buy rating on the shares. The company’s Q2 earnings “beat solidly”, but U.S. thrombectomy growth outlook missed expectations and guidance was reduced, which will likely pressure the stock in an “unforgiving” MedTech tape, the analyst tells investors in a research note.