Consonance Capital Management Lp buys $50,827,070 stake in Penumbra Inc (PEN)

Penumbra Inc (PEN) : Consonance Capital Management Lp scooped up 644,079 additional shares in Penumbra Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 684,079 shares of Penumbra Inc which is valued at $50,827,070.Penumbra Inc makes up approximately 6.08% of Consonance Capital Management Lp’s portfolio.

Other Hedge Funds, Including , Schwab Charles Investment Management Inc boosted its stake in PEN in the latest quarter, The investment management firm added 31,468 additional shares and now holds a total of 44,758 shares of Penumbra Inc which is valued at $3,325,519.Marshall Wace Llp reduced its stake in PEN by selling 73,631 shares or 88.83% in the most recent quarter. The Hedge Fund company now holds 9,260 shares of PEN which is valued at $688,018. Penumbra Inc makes up approx 0.01% of Marshall Wace Llp’s portfolio.Alliancebernstein boosted its stake in PEN in the latest quarter, The investment management firm added 151,517 additional shares and now holds a total of 674,307 shares of Penumbra Inc which is valued at $50,101,010. Penumbra Inc makes up approx 0.04% of Alliancebernstein’s portfolio. Cortina Asset Management added PEN to its portfolio by purchasing 47,111 company shares during the most recent quarter which is valued at $3,500,347. Penumbra Inc makes up approx 0.15% of Cortina Asset Management’s portfolio.Strs Ohio boosted its stake in PEN in the latest quarter, The investment management firm added 7,000 additional shares and now holds a total of 8,500 shares of Penumbra Inc which is valued at $554,965.

On the company’s financial health, Penumbra Inc reported $0.01 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Aug 9, 2016. Analyst had a consensus of $-0.07. The company had revenue of $65.10 million for the quarter, compared to analysts expectations of $58.18 million. The company’s revenue was up 53.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.11 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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