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Top Seth Klarman Holding, ELOS Rockets Up 20%

February 16, 2011 | About:

Value investor Seth Klarman, watched one of his long term holdings soar in value today as Syneron Medical (NASDAQ:ELOS) advanced over 20% after posting strong earnings. Klarman is Portfolio Manager of the investment partnership The Baupost Group and manages over $7 billion.

Baupost owns only a handful of stocks yet Syneron Medical has been a long term holding since 2006.

Syneron Medical reported surging international sales international sales that grew 20 percent to $35.3 million, while North American revenue climbed about 6 percent to $18.2 million.

As of December 31, 2010 Baupost owned 15,000,000 shares of ELOS and almost 5% of the entire company. Unfortunately for Baupost, Klarman trimmed his stake in ELOS in Q4 2010 by 596,235 shares.

Despite the recent surge in ELOS stock, it has still been a losing position for Baupost.

Klarman initiated holdings in Syneron Medical in 2006 with purchase prices between $19.61 and $29.94. On February 16, 2011, ELOS closed at $14.10.

Syneron Medical "develops and markets medical products based on its various technologies including its Electro-Optical Synergy (NASDAQ:ELOS) technology, which uses the synergy between electrical energy, including radiofrequency (RF) energy, and optical energy. The Company’s products focus on an array of non-invasive medical procedures." Google Finance

Rating: 4.0/5 (8 votes)


David Pinsen
David Pinsen - 6 years ago    Report SPAM
Still below the price it was when I bought it in 2008 ($15.20), and even further below the prices Klarman paid for it. I dumped this one a couple of years ago.

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GuruFocus has detected 3 Warning Signs with Syneron Medical Ltd $ELOS.
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