Solid YTD Performers: NPS Pharmaceuticals Inc. (NPSP), Linn Energy LLC (LINE), And Omega Healthcare Investors Inc (OHI)
New York, NY – GDPINSIDER – 01/08/2014.
NPS Pharmaceuticals, Inc. (NASDAQ:NPSP), a maker of drugs for rare diseases, is exploring a sale. It has tapped Goldman Sachs Group Inc (NYSE:GS) to help with the sale process. However, the process is still in the early stages and there is no guarantee that a deal would be reached.
A number of potential buyers have been cited, including Shire PLC (ADR) (NASDAQ:SHPG), which had previously sought to buy the company. Shire walked away with $1.6 billion in a breakup fee with AbbVie Inc (NYSE:ABBV). It was expected to spending that amount in acquisitions.
According to analysts, NPS Pharmaceuticals, Inc. (NASDAQ:NPSP) could be valued at $4.5 billion taking into account the typical premium in such transactions.
NPS Pharmaceuticals is among the top biotech gainers this year, having edged up more than 15% YTD.
Linn Energy LLC (NASDAQ:LINE) is set to pay a monthly dividend of $0.1042. The dividend is scheduled for payout on January 15. The company continues to put money into the pockets of its shareholders despite the challenges in the oil industry. It recently announced a capital budget cut to align its projects with the market realities.
Linn Energy LLC (NASDAQ:LINE) announced 53% capital spending cut for 2015 compared with the spending in 2014. However, the company also recently announced a strategic deal with GSO Capital Partners, which is expected to bring several gains.
The falling oil prices continues to put pressure on oil stocks, but Linn Energy LLC (NASDAQ:LINE) has been able to hold on nicely, gaining more than 10% YTD.
Omega Healthcare Investors Inc (NYSE:OHI)’s performance so far has left several industry observers satisfied, especially its over 5% yield mark. The health REIT was among the institutions that took advantage of the lower interest rates to make various positive adjustments to increase cash available for distribution (CAD).
Going forward, Omega Healthcare Investors Inc (NYSE:OHI) is expected to draw significant benefits from the merger with Aviv REIT. The deal is expected to boost cash flow and improve dividends.
Shares of Omega Healthcare Investors Inc (NYSE:OHI) are up almost 10% YTD.
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