Glenview Capital Files 13G on Life Technologies (LIFE) ~ market folly

Tuesday, November 23, 2010

Glenview Capital Files 13G on Life Technologies (LIFE)

Larry Robbins' hedge fund Glenview Capital has filed a 13G with the SEC regarding shares of Life Technologies (LIFE). Due to portfolio activity on November 19th, Glenview has disclosed a 5.1% ownership stake LIFE in with 9,450,612 shares. This marks a 17% increase in Robbins' position size since September 30th, as his hedge fund owned 8,077,282 shares at the end of the third quarter.

Robbins is obviously fond of this name and recently pitched it at the Invest For Kids Conference in Chicago. You can see notes from his presentation here. In summary, he sees Life Technologies trading at an attractive valuation and thinks the company should buyback shares. In terms of other recent activity out of the hedge fund, we also detailed how Glenview increased its position in Punch Taverns.

Taken from Google Finance, Life Technologies (formerly Invitrogen Corporation), "incorporated 1989, is a biotechnology tools company. The Company delivers a range of products and services, including systems, instruments, reagents, software, and custom services. Its range of products includes technologies for capillary electrophoresis based sequencing, sequencing, patient care report (PCR), sample preparation, cell culture, ribonucleic acid (RNA) interference analysis, functional genomics research, proteomics and cell biology applications, as well as clinical diagnostic applications, forensics, animal, food, pharmaceutical and water testing analysis."

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