Penumbra Shares Plunge 1.38% on Citi's Lowered Price Target

Penumbra (PEN) shares fell 1.38% today, marking the third consecutive day of decline, with a total drop of 2.66% over the past three days. The stock price hit its lowest level since January 2025, experiencing an intraday decline of 3.10%.

Citi recently lowered its price target for Penumbra from $320 to $285, while keeping a Neutral rating on the stock. This adjustment by Citi is a significant factor influencing Penumbra's stock performance. The reduction in the price target suggests a more cautious outlook on the company's future prospects, which has likely contributed to the recent downward trend in the stock price. Investors may be reassessing their positions in light of this revised target, leading to increased selling pressure.