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Top Hedge Funder Larry Robbins Boosts Shareholding in VCA Inc.

August 26, 2014 | About:
Holly LaFon

Holly LaFon

267 followers
Larry Robbins (Trades, Portfolio), noted for being top-performing hedge fund manager of 2013, with an 84.2% at his $1.8 billion Glenview Capital Opportunity Fund returned 84.2% through Oct. 31, has reported adding to his stake in one of his current holdings. Robbins increased his shareholding in VCA Inc. (WOOF) by 45.6%, or 4,009,200 shares, according to GuruFocus Real Time Picks.

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Robbins started buying shares of the company in the first quarter of 2014 when the stock price averaged $32. In the second quarter, he made a substantial increase to the position at the same average price.

Aug. 21, the day Robbins reported buying the shares, saw the stock close at $39.29 per share, up 25% year to date.

VCA is a pet health care service provider with more than 600 small animal veterinary clinics in the U.S. and Canada, with clinical laboratory systems, diagnostics and marketing for veterinarians.

In its second quarter results reported July 24, VCA Inc. showed a 5.2% revenue increase to $489.5 million, net income increase of 9.4% to $45.6 million and diluted earnings per share increase to 10.9% to $0.51.

The company also reaffirmed its guidance for full-year 2014: revenue between $1.9 billion and $1.925 billion, net income between $144 million and $153 million, and diluted earnings per common share from $1.62 to $1.72. This compares to 2013 results of $1.8 billion, net income of $138.1 million and diluted earnings per common share of $1.54.

The company ended the first half of 2014 with case of $65.98 million, up from $59.9 million at year-end 2013.

VCA Inc.’s revenue and earnings history:

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The company has a P/E of 24.3, P/B of 2.57 and P/S of 2.0.

For more Larry Robbins (Trades, Portfolio) stocks, visit his portfolio here. Not a Premium Member of GuruFocus? Try it free for 7 days here.


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