Einhorn’s Greenlight Increases Bet on Elekta Share Drop
David Einhorn’s hedge fund Greenlight Capital Inc. increased its bet that shares of Swedish medical-equipment maker Elekta AB will decline.
Einhorn sold short 2.35 percent of Elekta’s shares as of Jan. 16, according to data published by the Swedish Financial Supervisory Authority. On Jan. 4, Greenlight’s short position was 1.8 percent, according to the data.
Elekta fell 0.5 percent to 99 kronor at 9:26 a.m. in Stockholm. The stock has risen 27 percent in the past year, giving the company, which is based in the Swedish capital, a market value of 38 billion kronor ($5.8 billion).
U.S. government reimbursement for procedures using Elekta’s Gamma Knife radiosurgery equipment will decline under a new tax law, Handelsbanken Capital Markets reported Jan. 3.
To contact the reporter on this story: Phil Serafino in Paris at firstname.lastname@example.org
To contact the editor responsible for this story: Phil Serafino at email@example.com