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Campaigns / Spruce Point Capital → Penumbra, Inc.
Spruce Point Capital vs. Penumbra, Inc.

Penumbra, Inc. · PEN

1 deck published between 2019-07-31 and 2019-07-31 — 61 pages, 61 analysed slides total.

initial thesis

Timeline

Each deck in chronological order — click to open. This is the story of the campaign as it unfolded.

  1. 2019-07-31 initial thesis

    2019 07 64e7a5092204f80bed369acb_pen_research_thesis_7 31 2019

    61pp · full_deck

    Penumbra is a commoditized single-product 510(k) company whose aspiration-catheter franchise is collapsing to deep-pocketed bundlers; Spruce Point sees 40-55% downside to $85-110 per share.