Penumbra price target raised to $301 from $279 at BTIG

BTIG analyst Ryan Zimmerman raised the firm’s price target on Penumbra to $301 from $279 and keeps a Buy rating on the shares as part of a broader research note titled "Q1 MedTech Quarterly Preview". While dynamics are improving, "nobody is in the clear yet", with more inflation still being present, interest rates remaining elevated, and recessionary risk looming over the global economy, the analyst tells investors in a research note. The firm adds however that procedures and staffing appear to be improving, capital equipment demand remains healthy, and FX has become less of a headwind for most names under coverage, setting up improvement for margins in the second half of the year.