The New Gilead Capital Lp Holding in Landauer Inc
Gilead Capital Lp filed with the SEC SC 13D form for Landauer Inc. The form can be accessed here: 000092189516006223. As reported in Gilead Capital Lp’s form, the filler as of late owns 5% or 480,215 shares of the Health Care–company.
Landauer Inc stake is a new one for the and it was filed because of activity on November 21, 2016. We feel this shows Gilead Capital Lp’s positive view for the stock.
Reasons Why Gilead Capital Lp Bought – Landauer Inc Stock
Purpose of Transaction
The Reporting Persons purchased the Shares based on the Reporting Persons’ belief that the Shares, when purchased, were undervalued and represented an attractive investment opportunity.Depending upon overall market conditions, other investment opportunities available to the Reporting Persons, and the availability of Shares at prices that would make the purchase or sale of Shares desirable, the Reporting Persons may endeavor to increase or decrease their position in the Issuer through, among other things, the purchase or sale of Shares on the open market or in private transactions or otherwise, on such terms and at such times as the Reporting Persons may deem advisable.
On November 22, 2016, the Reporting Persons issued an open letter to the Board expressing their concerns regarding the Issuer’s corporate governance and poor long-term financial performance.In the letter, the Reporting Persons first addressed the issue of Executive Chairman Michael Leatherman.The Reporting Persons had discovered that Mr. Leatherman was a not Certified Public Accountant, contrary to statements in the Issuer’s filings.The Reporting Persons had brought this information to Mr. Leatherman’s attention and the attention of the full Board, but no action has been taken to date to make Mr. Leatherman account for this misrepresentation.The Reporting Persons also detailed other governance concerns in the letter, such as (i)
the Issuer’s accounting restatement and revision processes for the fiscal years ending 2011 through 2014
which occurred while Mr. Leatherman acted as interim Chief Financial Officer and as a member of the Audit Committee, (ii) the Board’s capital allocation, including with respect to the implementation of the Enterprise Resource Planning system which budget ballooned from $10 million to $57 million and the Board’s decision to acquire a medical products business without obvious synergies, which was ultimately sold at a loss of more than 88%, and (iii) the Board’s failure thus far to execute on wireless dosimetry technology despite publicly disclosing plans to pursue such technology since 2010.The Reporting Persons stated their belief that the Issuer’s governance issues have taken a toll on the Issuer’s financial health, noting the Issuer’s precipitous decline in adjusted operating margins, from nearly 40% to 20% since 2008, and net cash, from a net cash position of $29 million in 2008 to a net debt position of $100 million as of June 30, 2016.The Reporting Persons also noted the Board’s 50% reduction in quarterly dividend payments in 2015 and poor shareholder returns since 2008 compared to the Issuer’s peer group and industry indices.The Reporting Persons further noted that every director who oversaw this extended underperformance remains a director on the Board, including Executive Chairman Michael Leatherman.Accordingly, the Reporting Persons demanded that the Board take immediate action to remove Mr. Leatherman as a director and officer of the Issuer, disclose the process by which Mr. Leatherman and fellow director Bill Dempsey were appointed to the Board (each of whom came through company contacts), establish a special committee of independent directors to investigate and strengthen the nomination and review process for director candidates, and appoint Jeffrey Strong as a director to help remedy the governance shortfalls.The Reporting Persons concluded that if the Board fails to address the aforementioned governance deficiencies, the Reporting Persons would act to protect shareholder value, including proposing a slate of directors at the Issuer’s annual meeting of shareholders. The full text of the letter is attached hereto as Exhibit 99.2 and is incorporated herein by reference.
CUSIP No. 51476K 10 3
No Reporting Person has any present plan or proposal which would relate to or result in any of the matters set forth in subparagraphs (a) – (j) of Item 4 of Schedule 13D except as set forth herein or such as would occur upon or in connection with completion of, or following, any of the actions discussed herein.The Reporting Persons intend to review their investment in the Issuer on a continuing basis.Depending on various factors including, without limitation, the Issuer’s financial position and investment strategy, the price levels of the Shares, conditions in the securities markets and general economic and industry conditions, the Reporting Persons may in the future take such actions with respect to their investment in the Issuer as they deem appropriate including, without limitation, continuing to engage in communications with management and the Board of Directors of the Issuer, engaging in discussions with stockholders of the Issuer or other third parties about the Issuer and the Reporting Persons’ investment, including potential business combinations or dispositions involving the Issuer or certain of its businesses, making recommendations or proposals to the Issuer concerning changes to the capitalization, ownership structure, board structure (including board composition), potential business combinations or dispositions involving the Issuer or certain of its businesses, or suggestions for improving the Issuer’s financial and/or operational performance, purchasing additional Shares, selling some or all of their Shares, or changing their intention with respect to any and all matters referred to in Item 4.
Landauer Inc Institutional Sentiment
Latest Security and Exchange filings show 116 investors own Landauer Inc. The institutional ownership in Q3 2015 is high, at 88.25% of the outstanding shares. This is increased by 187673 the total institutional shares. 8472157 were the shares owned by these institutional investors. In total 12 funds opened new Landauer Inc stakes, 41 increased stakes. There were 7 that closed positions and 39 reduced them.
Killen Group Inc is an institutional investor bullish on Landauer Inc, owning 467824 shares as of Q3 2015 for 1.61% of its portfolio. Jeffrey Moskowitz Harvey Partners Llc owns 160000 shares or 3.67% of its portfolio. CT Lapides Asset Management Llc have 0.30% of their stock portfolio for 46800 shares. Further, Punch & Associates Investment Management Inc reported stake worth 0.50% of its US stock portfolio. The CA Bernzott Capital Advisors owns 485775 shares. Landauer Inc is 4.13% of the manager’s US portfolio.
Landauer, Inc. (Landauer) is a provider of technical and analytical services to determine occupational and environmental radiation exposure. The Company is a domestic provider of outsourced medical physics services and a provider of radiology related medical products. It operates in three business segments: Radiation Measurement, Medical Physics and Medical Products. The Radiation Measurement segment provides analytical services to determine occupational and environmental radiation exposure. The Medical Physics segment provides therapeutic and imaging physics services to domestic hospitals and radiation therapy centers. The Medical Products segment provides medical consumable accessories used in radiology, radiation therapy and image guided surgery procedures. The Company’s services include the manufacture of various types of radiation detection monitors, the distribution and collection of the monitors to and from customers, and the analysis and reporting of exposure findings.
SEC Form 13D is filed within 10 days, by anyone who acquires beneficial ownership of 5%+ of any public firm. Activist investors and practices such as: company breakups, hostile takeovers, and change of control events, are permitted for this form filers. A filer must promptly update its 13D filing in case of acquisition or disposition of 1% or more of the securities that are the subject of the filing.
Insitutional Activity: The institutional sentiment increased to 1.64 in Q2 2016. Its up 0.51, from 1.13 in 2016Q1. The ratio increased, as 8 funds sold all Landauer Inc shares owned while 37 reduced positions. 15 funds bought stakes while 36 increased positions. They now own 8.13 million shares or 2.71% less from 8.35 million shares in 2016Q1.
Amer Century last reported 22,674 shares in the company. Lafitte Cap Lp has invested 1.63% of its portfolio in Landauer Inc (NYSE:LDR). Deutsche Savings Bank Ag has 26,843 shares for 0% of their US portfolio. Gamco Investors Inc Et Al last reported 64,000 shares in the company. Interest Group reported 7,117 shares or 0% of all its holdings. Parametric Assoc Ltd Llc, a Washington-based fund reported 19,484 shares. First L P has 4,957 shares for 0% of their US portfolio. Putnam Invests Limited Liability has 0.01% invested in the company for 71,188 shares. Rbf Limited Liability last reported 0.06% of its portfolio in the stock. Bank & Trust Of Montreal Can holds 0% of its portfolio in Landauer Inc (NYSE:LDR) for 185 shares. Kennedy Capital Inc last reported 0.02% of its portfolio in the stock. Old Natl Bankshares In owns 5,579 shares or 0.01% of their US portfolio. Great West Life Assurance Can holds 0% or 623 shares in its portfolio. State Common Retirement Fund holds 0% of its portfolio in Landauer Inc (NYSE:LDR) for 9,800 shares. Moreover, Tiaa Cref Invest Lc has 0% invested in Landauer Inc (NYSE:LDR) for 38,698 shares.
Analysts await Landauer Inc (NYSE:LDR) to report earnings on December, 12. They expect $0.29 earnings per share, down 27.50% or $0.11 from last year’s $0.4 per share. LDR’s profit will be $2.76 million for 44.18 P/E if the $0.29 EPS becomes a reality. After $0.49 actual earnings per share reported by Landauer Inc for the previous quarter, Wall Street now forecasts -40.82% negative EPS growth.
The stock increased 0.39% or $0.2 on November 21, hitting $51.25. Landauer Inc (NYSE:LDR) has risen 50.03% since April 20, 2016 and is uptrending. It has outperformed by 45.47% the S&P500.
Landauer, Inc. is a provider of technical and analytical services to determine occupational and environmental radiation exposure. The company has a market cap of $486.97 million. The Firm is a domestic well-known provider of outsourced medical physics services and a well-known provider of radiology related medical products. It has a 27.72 P/E ratio. It operates in three business divisions: Radiation Measurement, Medical Physics and Medical Products.
Landauer Inc (NYSE:LDR) Ratings Coverage
Out of 2 analysts covering Landauer (NYSE:LDR), 0 rate it a “Buy”, 1 “Sell”, while 1 “Hold”. This means 0 are positive. Landauer has been the topic of 2 analyst reports since August 16, 2016 according to StockzIntelligence Inc. The stock of Landauer Inc (NYSE:LDR) has “Underperform” rating given on Friday, July 1 by Hilliard Lyons. The company was downgraded on Tuesday, August 16 by Sidoti.
More notable recent Landauer Inc (NYSE:LDR) news were published by: Prnewswire.com which released: “Landauer, Inc. Appoints Teri Fontenot to Board of Directors” on September 28, 2016, also Prnewswire.com with their article: “Landauer, Inc. Names Mike Kaminski President And Chief Executive Officer …” published on August 26, 2015, Prnewswire.com published: “Landauer, Inc. Reports Fiscal 2015 Fourth Quarter And Full Year Results” on December 14, 2015. More interesting news about Landauer Inc (NYSE:LDR) were released by: Thestreet.com and their article: “Landauer Inc Stock Downgraded (LDR)” published on August 06, 2014 as well as Marketwatch.com‘s news article titled: “Landauer downgraded to underperform from neutral at Hilliard Lyons” with publication date: December 21, 2009.
According to Zacks Investment Research, “Landauer Inc. is the world’s leading provider of analytical services to determine occupational and environmental radiation exposure. For more than fifty years, the company has provided complete radiation dosimetry services to hospitals, medical and dental offices, universities, national laboratories, and other industries in which radiation poses a potential threat to employees. Landauer’s services include the manufacture of various types of radiation detection monitors, the distribution and collection of the monitors to and from clients, and the analysis and reporting of exposure findings. The company provides its services to one.five million people in the United States, Japan, France, the United Kingdom, Brazil, Canada, China, Australia and other countries.”
LDR Company Profile
Landauer, Inc. (Landauer), incorporated on November 23, 1987, is a well-known provider of technical and analytical services to determine occupational and environmental radiation exposure. The Firm is a domestic well-known provider of outsourced medical physics services and a well-known provider of radiology related medical products. It operates in three business divisions: Radiation Measurement, Medical Physics and Medical Products. The Company’s services include the manufacture of various types of radiation detection monitors, the distribution and collection of the monitors to and from customers, and the analysis and reporting of exposure findings. The Company’s services are provided to approximately 1.8 million individuals around the globe. In addition to providing analytical services, the Company sells dosimetry detectors and reading equipment to clients that want to manage their own dosimetry programs, or into smaller international markets. The Firm offers its service for measuring the dosages of x-ray, gamma radiation and other penetrating ionizing radiations. The Company’s technology is marketed under the trade names Luxel+ and InLight.
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