Lumenis Ltd (LMNS): Park West Asset Management Reveals New Passive Stake


Park West Asset Management, led by Peter S. Park, has revealed a new passive stake in Lumenis Ltd (NASDAQ:LMNS). The fund currently owns 479,523 class B shares of the company, equal to 5.1% of the class.


Lumenis (NASDAQ: LMNS) is a global leader in the field of minimally-invasive clinical solutions for the surgical, ophthalmology and aesthetic markets. The company has a market cap of $575.7 million, and has a P/E ratio of approximately 18.90 lower than the industry average, which almost amounts to 36.

Shares of Lumenis (NASDAQ: LMNS) have dropped by over 20% since the beginning of the year. Analysts have an average target price of $15.67 on the company’s stock, with the average recommendation ‘Buy’.

Recently, Lumenis Ltd. (NASDAQ: LMNS) introduced the Lumenis Pulse 120H Holmium laser platform. With unrivaled power, speed, safety and versatility, the Lumenis Pulse 120H (120 W, 80 Hz and 6J) provides physicians performing urological procedures with a superior product enabling excellent clinical results and greater return on investment, according to a statement.

Larkspur, California-based Park West Asset Management typically holds most of its equity holdings in the consumer goods or services sectors, and AUM estimates exceed $1 billion. More than 50% of Park West Asset Management’s equity portfolio sector allocation is invested in Services and Technology stocks.

During the last three months, the fund reported increasing its stakes stake in Move Inc. (NASDAQ:MOVE) and Outerwall Inc (NASDAQ:OUTR), as well as starting a new position in World Wrestling Entertainment, Inc. (NYSE:WWE). The fund upped its stake in Move Inc. (NASDAQ:MOVE) to around 1.99 million shares from 1.25 million shares held earlier. It also increased its stake in Outerwall Inc (NASDAQ:OUTR) to 1.5 million shares from 884,608 shares held earlier, representing 6.0% of the company’s common stock. In March, Park West Asset Management reported owning more than 2.03 million shares of World Wrestling Entertainment, Inc. (NYSE:WWE) class A common stock, equal to 6.5% of class.

Disclosure: none