Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Carl Icahn Cuts WebMD Below 5%, No Longer an Activist Stake

Carl Icahn, WebMD: In an amended 13D just filed with the SEC, Carl Icahn announced that he has agreed to sell back 5.5 million shares of WebMD Health Corp. (NASDAQ:WBMD) at a price of $32.08 each. Icahn held 6.7 million shares of WebMD at the end of the last 13F filing period, and the cut drops his stake far below the 5% threshold needed to carry out any sort of activist agenda.

Hedge Fund Strategies

Earlier in September WebMD conducted a tender offer in which it repurchased 5.0 million shares of its common stock, offering a price of $34 apiece, with the value of the deal amounting to $170 million. In the second quarter, WebMD posted EPS of $0.27, beating the average estimates by nearly 70%. Another recent highlight in the company’s life is the appointment of the interim CEO David J. Schlanger as the full CEO, and the appointment of Steven L. Zatz, M.D. as its President.

Below you can find the stock purchase agreement signed between Icahn and WebMD:

Ichan, WebMD Stock Purchase Agreement

Disclosure: none

Recommended Reading:

Coghill Capital Unloads Some Autobytel Shares

Activist Joseph Stillwell Gets a Board Nominee at Malvern Bancorp

ClickSoftware Technologies: Discovery Group Now Holds 5.6%

Biotech Stock Alert - 20% Guaranteed Return in One Year

Hedge Funds and Insiders Are Piling Into

One of 2015's best hedge funds and two insiders snapped up shares of this medical device stock recently. We believe its transformative and disruptive device will storm the $3+ billion market and help it achieve 500%-1000% gains in 3 years.

Get your FREE REPORT and the details of our 20% return guarantee today.

Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading Comments...

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!