Penumbra's Strong Growth Potential and Strategic Developments Reinforce Buy RatingWe are reiterating our Outperform rating on PEN and maintaining our $327 PT following the company's 2Q results. PEN reported WW sales +4% vs. consensus, with WW Thrombectomy +1% vs. consensus and WW E&A sales +11% vs. consensus. We were particularly encouraged by another consecutive quarter of strong growth in VTE, with PEN's US VTE business growing +42% y/y. MSD growth of PEN's US Stroke business came in a bit soft, with the company citing flat market growth, though our sense is that expectations were low coming into the print. Notably, PEN announced an expansion of its sales force, including the addition of new E&A reps while existing reps focus more exclusively on PEN's thrombectomy business.