Mission Wealth Management Lowers stake in Penumbra Inc (PEN)

Penumbra Inc (PEN) : Mission Wealth Management reduced its stake in Penumbra Inc by 2.69% during the most recent quarter end. The investment management company now holds a total of 26,756 shares of Penumbra Inc which is valued at $1,713,722 after selling 739 shares in Penumbra Inc , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Penumbra Inc makes up approximately 0.41% of Mission Wealth Management’s portfolio.

Other Hedge Funds, Including , Fort Point Capital Partners added PEN to its portfolio by purchasing 34,326 company shares during the most recent quarter which is valued at $2,198,580. Penumbra Inc makes up approx 0.97% of Fort Point Capital Partners’s portfolio. Sg Americas Securities added PEN to its portfolio by purchasing 2,653 company shares during the most recent quarter which is valued at $162,762.Blackrock Advisors boosted its stake in PEN in the latest quarter, The investment management firm added 4,287 additional shares and now holds a total of 13,249 shares of Penumbra Inc which is valued at $812,826. Victory Capital Management Inc added PEN to its portfolio by purchasing 1,142 company shares during the most recent quarter which is valued at $66,978. Old Mutual Global Investors (uk) Ltd. sold out all of its stake in PEN during the most recent quarter. The investment firm sold 16,905 shares of PEN which is valued $1,114,885.

On the company’s financial health, Penumbra Inc reported $-0.04 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Nov 3, 2016. Analyst had a consensus of $-0.11. The company had revenue of $67.20 million for the quarter, compared to analysts expectations of $63.25 million. The company’s revenue was up 33.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.03 EPS.

Penumbra Inc. is an interventional therapies company that designs develops manufactures and markets medical devices. The Company has a portfolio of products that addresses medical conditions and clinical needs across two markets which includes neuro and peripheral vascular. Its neuro products include Neurovascular Access Neuron Access System BENCHMARK Intracranial Access System Penumbra System 3D Penumbra Coil 400 Penumbra SMART Coil and LIBERTY stent. The Company’s neuro surgical tools include Apollo System. Its peripheral vascular products include Ruby Coil System Penumbra Occlusion Device (POD) and Indigo System. Its products address conditions which include ischemic stroke and hemorrhagic stroke which involve blockage or rupture of blood vessels in the brain and various peripheral vascular conditions that can be treated through thrombectomy and embolization procedures which involve the use of medical devices to remove or treat blockages or ruptures of blood vessels.

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