Israel Englander‘s Millenium Management continues its selling streak in Liberator Medical Holdings Inc (NYSEMKT:LBMH). In a new filing, Millenium reported about disposing another 649,079 shares of the company, cutting down its stake to 6.8 million shares. The shares have been sold in two transactions at an average price of $5.19 apiece.
The moves have been made just several days after the fund sold another 277,045 shares for a total gain of $1.30 million. Overall, in several transactions, Millennium reduced the position down from over 7.82 million shares held a couple of months ago.
Liberator Medical Holdings Inc (NYSEMKT:LBMH) supplies durable medical supplies directly to seniors and chronically ill patients. The products range from includes urological, ostomy, mastectomy methods, and diabetic supplies. The company bills Medicare and other third party insurers on behalf of its patients.
For the fiscal year 2013, ended September 30, the company reported revenues of $69.11 million, a growth of 13% over the previous year. EPS increased by 180% to $0.14 during the same period. For the next fiscal year, the estimates stand at $0.22 in terms of EPS. The rating for the stock is “Buy,” with a target price of $8.00 per share, which could mean that Millennium is dropping the stock too soon, according to this data.
Millennium Management with about $31.05 billion in its equity portfolio returned 13% in 201 and 6% in 2011, outperforming many of its peers. The hedge fund has a multi sector focus with main holdings in Healthcare, Services, Basic Materials, Consumer Goods, Technology and Financial sectors. The largest stake in its equity portfolio is represented by PPL Corporation (NYSE:PPL), the fund holding over 8.02 million shares, with a reported value of $243.72 million. The next on the list are Baker Hughes Inc. (NYSE:BHI), in which Millennium owns 4.24 million shares, worth $208.10 million, and American Electric Power Company Inc (NYSE:AEP), represented by a 4.44 million shares stake worth $192.41 million at the end of the third quarter.