Phocas Financial Corp. Lowers stake in Penumbra Inc (PEN)

Penumbra Inc (PEN) : Phocas Financial Corp. reduced its stake in Penumbra Inc by 32.56% during the most recent quarter end. The investment management company now holds a total of 307,774 shares of Penumbra Inc which is valued at $22,867,608 after selling 148,607 shares in Penumbra Inc , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Penumbra Inc makes up approximately 1.59% of Phocas Financial Corp.’s portfolio.

Other Hedge Funds, Including , Voya Investment Management added PEN to its portfolio by purchasing 11,164 company shares during the most recent quarter which is valued at $829,485. Janus Capital Management sold out all of its stake in PEN during the most recent quarter. The investment firm sold 85,615 shares of PEN which is valued $6,361,195. Tower Research Capital (trc) sold out all of its stake in PEN during the most recent quarter. The investment firm sold 100 shares of PEN which is valued $7,430.California State Teachers Retirement System boosted its stake in PEN in the latest quarter, The investment management firm added 43,684 additional shares and now holds a total of 53,383 shares of Penumbra Inc which is valued at $3,587,871. Penumbra Inc makes up approx 0.01% of California State Teachers Retirement System’s portfolio. Old Mutual Global Investors (uk) Ltd. added PEN to its portfolio by purchasing 16,905 company shares during the most recent quarter which is valued at $1,021,231. Penumbra Inc makes up approx 0.02% of Old Mutual Global Investors (uk) Ltd.’s portfolio.

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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