Israel Englander‘s Millenium Management has recently further trimmed its stake in Liberator Medical Holdings Inc (NYSEMKT:LBMH). Last week, the fund sold 277,045 shares of the company, reducing its holding to some 7.45 million shares. The securities have been disposed in five transactions, the total value amounting to around $1.30 million.
A couple of weeks ago, Millennium disclosed another transaction in which it sold 100,000 shares of Liberator Medical Holdings Inc (NYSEMKT:LBMH) at a price of $4.36 apiece.
Liberator Medical Holdings is a provider of medical supplies focusing on four product lines: diabetes, urological, ostomy and mastectomy. It provides supplies mainly to Medicare-eligible seniors. For the third quarter of last year, the company reported net sales worth $69.11 million, up by 13.4% on the year. Its net income surged by over 180% to $7.1 million. The EPS of the company was reported at $0.14, versus $0.05 for the same period of last year.
A couple of months ago, Liberator Medical Holdings was approved to be listed on the NYSE MKT moving its common stock from the Over-the-Counter Bulletin Board (OTCBB).
The average analyst recommendation for the company is “Buy” and the target is set at $8.0 per share, almost double from the current stock price of the company.
Millennium Management, in its latest 13F, disclosed an equity portfolio worth almost $31.1 billion. 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 Incorporated (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.