Citigroup Maintains Buy Rating for Penumbra: Here's What You Need To Know

Citigroup has decided to maintain its Buy rating of Penumbra PEN and lower its price target from $390.00 to $320.00.

Shares of Penumbra are trading up 0.0% over the last 24 hours, at $241.91 per share.

A move to $320.00 would account for a 32.28% increase from the current share price.

About Penumbra

Penumbra Inc develops and manufactures medical devices for the neurovascular and peripheral vascular markets. Its products are primarily sold to hospitals and are developed for use by specialist physicians. The neurovascular product category contributes to the majority of revenue. Within the neurovascular business, the firm offers products for neurovascular access, ischemic stroke, neurovascular embolization, and neurosurgical tool markets. In the peripheral vascular business, the firm sells devices related to peripheral embolization and peripheral thrombectomy. Penumbra generates the majority of its revenue in the United States.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.