Valeant Pharmaceuticals International Inc. (NYSE:VRX) dropped 0.9% during trading on Friday . The company traded as low as $22.85 and last traded at $23.28, with a volume of 15,002,748 shares trading hands. The stock had previously closed at $23.49.

VRX has been the subject of a number of analyst reports. BMO Capital Markets reissued a “market perform” rating and set a $133.00 target price on shares of Valeant Pharmaceuticals International in a research report on Tuesday, March 15th. Canaccord Genuity reaffirmed a “hold” rating on shares of Valeant Pharmaceuticals International in a report on Tuesday, April 5th. Piper Jaffray Cos. cut shares of Valeant Pharmaceuticals International from a “neutral” rating to an “underweight” rating in a report on Tuesday, March 15th. Wells Fargo & Co. reaffirmed an “underperform” rating on shares of Valeant Pharmaceuticals International in a report on Friday, April 15th. Finally, JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Valeant Pharmaceuticals International in a report on Tuesday, April 5th. Seven research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Valeant Pharmaceuticals International currently has an average rating of “Hold” and an average price target of $74.71.

The stock’s 50 day moving average price is $24.19 and its 200-day moving average price is $53.05. The company’s market cap is $7.98 billion.

Valeant Pharmaceuticals International (NYSE:VRX) last announced its quarterly earnings results on Tuesday, June 7th. The specialty pharmaceutical company reported $1.27 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.37 by $0.10. During the same period in the previous year, the company earned $2.36 EPS. The firm had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.34 billion. The firm’s quarterly revenue was up 9.3% on a year-over-year basis. On average, analysts anticipate that Valeant Pharmaceuticals International Inc. will post $6.62 earnings per share for the current fiscal year.

In related news, CEO Joseph C. Papa purchased 202,000 shares of the business’s stock in a transaction dated Friday, June 10th. The stock was acquired at an average price of $24.48 per share, for a total transaction of $4,944,960.00. Following the acquisition, the chief executive officer now directly owns 2,442,199 shares of the company’s stock, valued at approximately $59,785,031.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Other institutional investors recently made changes to their positions in the company. Tredje AP fonden bought a new position in shares of Valeant Pharmaceuticals International during the fourth quarter worth about $10,286,000. Gulf International Bank UK Ltd increased its position in shares of Valeant Pharmaceuticals International by 2.3% in the fourth quarter. Gulf International Bank UK Ltd now owns 97,223 shares of the specialty pharmaceutical company’s stock worth $9,883,000 after buying an additional 2,230 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Valeant Pharmaceuticals International by 8.0% in the fourth quarter. Vanguard Group Inc. now owns 4,440,755 shares of the specialty pharmaceutical company’s stock worth $451,403,000 after buying an additional 330,079 shares in the last quarter. CAM Group Holding A S increased its position in shares of Valeant Pharmaceuticals International by 13.5% in the fourth quarter. CAM Group Holding A S now owns 161,461 shares of the specialty pharmaceutical company’s stock worth $16,413,000 after buying an additional 19,200 shares in the last quarter. Finally, State of Wisconsin Investment Board increased its position in shares of Valeant Pharmaceuticals International by 81.3% in the fourth quarter. State of Wisconsin Investment Board now owns 423,756 shares of the specialty pharmaceutical company’s stock worth $42,902,000 after buying an additional 190,014 shares in the last quarter.

Valeant Pharmaceuticals International, Inc is a specialty pharmaceutical and medical device company. The Company is engaged in developing, manufacturing, and marketing a range of branded, generic and branded generic pharmaceuticals, over-the-counter (OTC) products, and medical devices (contact lenses, intraocular lenses, ophthalmic surgical equipment, and aesthetics devices), which are marketed directly or indirectly in over 100 countries.

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