SEC form 13G/A filed by Given Imaging Ltd. (Nasdaq: GIVN; TASE: GIVN) reveals that financial giant AXA, representing customer accounts, has increased its stake in the gastro-intestinal imaging company.
As of April 30, AXA owns about 17.3% of Given's ordinary shares. This marks an increase of 51.7% from the 11.4% it owned as of December 31, 2007.
Most of the shares are actually held by client accounts managed by AXA Financial subsidiary AllianceBernstein L.P. AXA represents about 5.02 million shares in Given, a stake which is worth about $81 million.
Given is expected to report its first quarter results today, after the close of Nasdaq trading. Market estimates are for the firm to report $27.3 million revenue, and a net loss of $0.04 per share. Given is also expected to raise its guidance for the year, following the recent settlement it reached with competitor Olympus.
Published by Globes [online], Israel business news - www.globes-online.com - on May 13, 2008
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