UPDATE: BMO Capital Starts Penumbra (PEN) at Outperform

October 17, 2016 7:51 AM EDT
Get Alerts PEN Hot Sheet
Price: $72.35 -2.1%

Rating Summary:
    5 Buy, 0 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 11 | Down: 23 | New: 30
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(Updated - October 17, 2016 9:05 AM EDT)

BMO Capital initiated coverage on Penumbra (NYSE: PEN) with an Outperform rating and a price target of $86. Analyst Joanne K. Wuensch highlighted double-digit growth.

"Although it's a recent IPO, the company has an established revenue base, delivering $186mm in 2015 (up 53.5% ex-fx y/y), including $141mm (up 39.2% ex-fx) of Neurovascular and $45mm (up 134.9% ex-fx) of Peripheral Vascular product sales. It is also already a global company, generating 30% of revenue from outside the U.S. Given its differentiated technology, double-digit revenue growth, and path to sustainable profitability, we believe that Penumbra is positioned to deliver results," said Wuensch.

For an analyst ratings summary and ratings history on Penumbra click here. For more ratings news on Penumbra click here.

Shares of Penumbra closed at $70.93 yesterday.

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