Needham Downgrades Penumbra to Hold Following Acquisition Deal
Needham downgraded Penumbra (PEN) to Hold from Buy following the announcement of a deal to be acquired by Boston Scientific (BSX). The firm notes the "significant" premium that Boston Scientific is paying and also contends that competing bids are unlikely given potential antitrust issues for other large-cap med tech companies, the analyst tells investors in a research note.
