Penumbra price target raised to $224 from $187 at BTIG

BTIG raised the firm’s price target on Penumbra to $224 from $187 and keeps a Buy rating on the shares as part of a broader research note on Medical Technology names. Despite more clarity from the Fed around rate cuts and small-caps in the sector have seen some rally, there may still be some trepidation by investors as to what comes next beyond the first rate cut, which may explain why large caps have continued to work in spite of an easing interest rate environment, the analyst tells investors in a research note. The procedure environment is healthy, and even though there is an overarching fear that volumes will slow in 2025, particularly within orthopedics, the firm is “incrementally more bullish” on capital equipment demand within U.S. healthcare, BTIG added.