ValueAct Capital Looks for Value in Omnicare (OCR)

In an amended 13D filing after the close Wednesday on Omnicare, Inc. (NYSE: OCR), ValueAct Capital disclosed they raised their stake in the beleaguered pharmaceutical care company. ValueAct bumped their stake from 6.5% (7,942,925 shares) to 7.7% (9,319,330 shares).

Omincare, already sitting near 52-week lows, sank further this week as investors became worried about an inquiry by the United States Attorney's Office. The stock sank 7% on Tuesday and another 6% yesterday following a Dow Jones news report on the DOJ probe. In response to the sell-off and media stories the company said, "We do not believe there is anything significant related to this review that has not already been disclosed in our public filings."

Omnicare is the largest U.S. provider of professional pharmacy, related consulting and data management services for skilled nursing, assisted living and other institutional healthcare providers as well as for hospice patients in homecare and other settings.

ValueAct is showing actions of a true value investor ---- buying when blood is on the streets. It remains to be seen if their aggressive investment pays off.

Glenview Capital Discloses a Nearly 10% Stake in Omnicare (OCR)

In a 13D filing after the close on Omnicare, Inc. (NYSE: OCR), Glenview Capital Management disclosed a 9.97% stake 12,122,463 in the company. The firm held 3,718,741 shares at the quarter ended June 30, 2007.

In a pretty standard disclosure, the firm did not make any direct requests on the company, but said they will monitor their investment and may enter discussions with management, the Board of Directors or others.

ValueAct Capital, another activist fund, disclosed a 6.5% stake in Omnicare back in September.

ValueAct Capital Bottom-Fishes Omnicare (OCR)

In a 13D filing after the close on Omnicare, Inc. (NYSE: OCR), ValueAct Capital disclosed a 6.5% stake (7,942,925 shares) in the company. This up from the 1,288,800 share stake the firm held at the quarter ended June 30, 2007.

In a pretty standard disclosure, the firm did not make any direct requests on the company, but said they will monitor their investment and may enter discussions with management, the Board of Directors or others.

The firm paid on average about $27 per share for the stock. The current stock price is $30.24.

Shares of OCR are near a 52-week low ($29.11)