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Freeze Frame: What Phillip Frost Holds Now

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SEC filings show that he bought up a whole lot of Opko Health recently, and holds large stakes in Ladenburg Thalmann and SearchMedia.

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MINYANVILLE ORIGINAL

Insiders might sell their shares for any number of reasons, but they buy them for only one: They think the price will rise.
– Peter Lynch

Why chase Buffett and Soros when you can step away from the herd and follow the stock buys of Dr. Philip Frost? Newer to the ranks of world-class insiders, the former dermatology professor made his mark when he sold drug manufacturer Ivax to Israel-based Teva Pharmaceuticals (TEVA) for $7.6 billion in 2005.

He has been the chairman of Teva since 2010, and it remains one of his most valuable holdings. He also heads up Opko Health (OPK), which is more of a holding company than a biotech/pharmaceutical play, according to analysts.

Today's filings with the SEC show that since late May through yesterday, August 21, Frost acquired 2.645 million additional shares of Opko where he remains chairman and CEO. This represents an investment somewhere north of $11 million as the stock price fluctuated from about $4.75 to $4.25 on the 37 days over which the purchases were made in lots ranging from 25,000 shares to 200,000 shares.

His total holdings in Miami-based Opko come to 115.659 million shares, which represent over half a billion dollars at today's stock price of $4.3750. Given that today's market capitalization is $1.3 billion, he controls around 40% of the outstanding shares. Insiders including Frost own well over 50% of the outstanding shares; institutional investors, collectively, hold another 20%.

Frost has never sold Opko. Is it a takeover target? He's done this before -- he sold Ivax to Teva and Key Pharmaceuticals to Schering-Plough, which is now part of Merck (MRK). Opko's offerings include the Claros Point-of-Care Diagnostics Platform, which can give lab results on blood in just 10 minutes. It has drugs in testing for treating nausea in chemotherapy patients, Opko has also partnered with Bristol-Myers (BMY) on a diagnostic test for Alzheimer's.

In addition to Opko, SEC filings today revealed that Frost holds more than 10% of Ladenburg Thalmann Financial Services (LTS). He is also a director at this investment bank/brokerage firm.

SEC filings also showed Frost controls 33.77% of SearchMedia Holdings Ltd. (IDI), a Chinese advertising network that controls outdoor billboards and in-elevator advertising in 50 cities throughout China.

Earlier this year, Minyanville reported that Frost, who is worth roughly $2.3 billion according to Forbes, had increased his stake to 16.61% in ChromaDex (CDXC), a natural products company with "superceuticals" in its pipeline. In another article, we also noted his large stake in junior miner company Pershing Gold (PGLC).
No positions in stocks mentioned.
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