19 documents showing 1–19
Solventum Corporation SOLV
Solventum's post-spin performance collapse is nearly worst-in-class; restoring 3M-era 3-4% growth and 26% margins plus simplifying the portfolio can double shares to $140 by 2027.
N4
V3
C3
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⇌
Pfizer Inc. PFE
Pfizer squandered its $40bn COVID windfall on overpriced M&A while delivering almost none of the 15 promised blockbusters; the Board must hold management accountable.
N5
V4
C4
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⚑
Fortrea Holdings Inc. FTRE
Fortrea, LabCorp's spun-out CRO, earns 9% EBITDA margins versus 18% peers; CEO Tom Pike's IQVIA playbook implies $47-$72 per share, 60-144% upside at normalized margins.
N4
V3
C3
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”
⇌
Bristol-Myers Squibb BMY
BMY is overpaying ~$30B for Celgene's risky pipeline, betting on 10 blockbusters in 8 years vs 3 in 15; shareholders should vote against and unlock 900bps of standalone margin upside.
N5
V3
C3
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”
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⚑
Bristol-Myers Squibb Company BMY
Starboard urges BMY shareholders to reject the $91B Celgene acquisition — it imports a massive REVLIMID patent cliff and was rushed through without exploring standalone turnaround or a sale of Bristol-Myers.
N4
V3
C3
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”
⚑
Magellan Health, Inc. MGLN
Magellan destroyed $700M of value through failed acquisitions and three 2018 guidance cuts; Starboard's six-director slate will overhaul the board and run a parallel sale process at peer multiples.
N4
V2
C2
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Date
Fund
Target
Thesis
Scores
Aug 11, 2025
Engine Capital
Avantor, Inc.
AVTR
Avantor's board has presided over five years of self-inflicted operational and capital-allocation failures; a refreshed board, cost discipline, buybacks and portfolio optimization can deliver 97-134% upside by 2027.
N4
V3
May 05, 2025
Wolfpack Research
UFP Technologies, Inc.
UFPT
UFPT's largest customer Intuitive Surgical — 96.5% of 2024 organic growth — is quietly insourcing drapes and buying from rival Microtek while insiders dumped $51M in stock.
N4
V2
Jan 08, 2025
Trian Partners
Solventum Corporation
SOLV
Solventum's post-spin performance collapse is nearly worst-in-class; restoring 3M-era 3-4% growth and 26% margins plus simplifying the portfolio can double shares to $140 by 2027.
N4
V3
Oct 01, 2024
Starboard Value
Pfizer Inc.
PFE
Pfizer destroyed $20-60bn of value since 2019 despite a $40bn COVID windfall; Starboard wants the board to hold Bourla accountable for peer-median R&D/M&A returns.
N5
V4
Oct 01, 2024
Starboard Value
Pfizer Inc.
PFE
Pfizer squandered its $40bn COVID windfall on overpriced M&A while delivering almost none of the 15 promised blockbusters; the Board must hold management accountable.
N5
V4
Feb 01, 2024
Ancora
Elanco Animal Health
ELAN
Elanco has destroyed billions under CEO Simmons and an insular classified board; replacing four directors at the 2024 AGM installs accountability and unlocks the animal-health turnaround.
N4
V4
Oct 01, 2023
Starboard Value
Fortrea Holdings Inc.
FTRE
Fortrea, LabCorp's spun-out CRO, earns 9% EBITDA margins versus 18% peers; CEO Tom Pike's IQVIA playbook implies $47-$72 per share, 60-144% upside at normalized margins.
N4
V3
Jan 07, 2021
Scorpion Capital
Nevro Corp.
NVRO
Nevro is a failed one-trick pony at 15x sales: the pivotal SENZA trial was rigged, HF10 is a phony premise, explant rates run 22-33%, and kickbacks prop up what remains of sales.
N5
V3
Apr 22, 2020
Wolfpack Research
Inspire Medical Systems, Inc.
INSP
Inspire's surgical sleep-apnea implant is too invasive to ever scale — VA sales prove patients refuse it for free, while insiders have dumped $340M cashing out a fictional $10bn TAM story.
N4
V2
Sep 16, 2019
White Diamond Research
Accelerate Diagnostics
AXDX
AXDX is a one-product company whose Pheno system is a flawed niche diagnostic — missed reagent targets, a looming Mayo-UCLA study failure, and cash burn point to 70% downside to a $6 price target.
N4
V2
Mar 18, 2019
Starboard Value
Bristol-Myers Squibb
BMY
BMY is overpaying ~$30B for Celgene's risky pipeline, betting on 10 blockbusters in 8 years vs 3 in 15; shareholders should vote against and unlock 900bps of standalone margin upside.
N5
V3
Mar 01, 2019
Starboard Value
Bristol-Myers Squibb
BMY
BMY's $91B Celgene deal bets the company on a REVLIMID patent cliff and pipeline requiring 10 blockbusters in 8 years — shareholders should vote no and pursue a standalone Amgen-style transformation.
N5
V3
Feb 28, 2019
Starboard Value
Bristol-Myers Squibb Company
BMY
Bristol-Myers' $91bn Celgene acquisition buys pharma's largest patent cliff; Starboard urges shareholders to vote it down and replace directors to pursue a standalone plan or sale.
N4
V3
Feb 28, 2019
Starboard Value
Bristol-Myers Squibb Company
BMY
Starboard urges BMY shareholders to reject the $91B Celgene acquisition — it imports a massive REVLIMID patent cliff and was rushed through without exploring standalone turnaround or a sale of Bristol-Myers.
N4
V3
Feb 22, 2019
Starboard Value
Magellan Health, Inc.
MGLN
Magellan destroyed $700M of value through failed acquisitions and three 2018 guidance cuts; Starboard's six-director slate will overhaul the board and run a parallel sale process at peer multiples.
N4
V2
May 07, 2018
Elliott Management
athenahealth, Inc.
ATHN
Elliott offers $160/share cash for athenahealth — a 27% premium valuing the company at ~$6.9bn — arguing chronic execution failures make going private the only path to realizing its HCIT potential.
N4
V2
Sep 12, 2016
Starboard Value
Perrigo Company plc
PRGO
Perrigo lost half its value after rejecting Mylan's $205 bid; divesting Rx and Tysabri royalty, fixing BCH margins, and restoring credibility can re-rate the stock to consumer-staples peers.
N4
V3
Aug 01, 2013
Glenview
Health Management Associates
HMA
HMA's incumbent board destroyed 25% of independent value before rushing a sale to Community Health Systems; Glenview's Fresh Alternative board protects the deal and recovers upside.
N4
V2
Jul 01, 2013
Glenview
Health Management Associates
HMA
HMA's insular 17-year-tenure board drove a Lost Decade of <1% TSR; replace all directors with Glenview's blue-chip slate to fix governance, compensation, and capital allocation.
N5
V3