Valeant Pharmaceuticals International Inc. (VRX) Stock Price Up 3.8%
Valeant Pharmaceuticals International Inc. (NYSE:VRX)’s share price rose 3.8% on Wednesday . The stock traded as high as $25.12 and last traded at $24.44, with a volume of 26,357,308 shares trading hands. The stock had previously closed at $23.54.
Several brokerages recently weighed in on VRX. BMO Capital Markets initiated coverage on Valeant Pharmaceuticals International in a report on Tuesday, June 28th. They issued a “market perform” rating and a $26.00 price objective on the stock. Mizuho reiterated a “sell” rating on shares of Valeant Pharmaceuticals International in a report on Thursday, March 31st. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $65.00 price objective on shares of Valeant Pharmaceuticals International in a report on Monday, May 9th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Valeant Pharmaceuticals International in a report on Tuesday, April 5th. Finally, RBC Capital Markets reiterated a “sector perform” rating and issued a $33.00 price objective on shares of Valeant Pharmaceuticals International in a report on Tuesday. Seven investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $64.49.
The firm has a 50 day moving average price of $23.37 and a 200-day moving average price of $48.13. The company’s market cap is $8.43 billion.
Valeant Pharmaceuticals International (NYSE:VRX) last released its earnings results on Tuesday, June 7th. The specialty pharmaceutical company reported $1.27 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.37 by $0.10. During the same period in the prior year, the firm earned $2.36 earnings per share. The firm had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.34 billion. The business’s revenue was up 9.3% on a year-over-year basis. On average, equities research analysts forecast that Valeant Pharmaceuticals International Inc. will post $6.61 EPS for the current fiscal year.
In other Valeant Pharmaceuticals International news, CEO Joseph C. Papa purchased 202,000 shares of the firm’s stock in a transaction dated Friday, June 10th. The stock was acquired at an average cost of $24.48 per share, with a total value of $4,944,960.00. Following the acquisition, the chief executive officer now owns 2,442,199 shares of the company’s stock, valued at approximately $59,785,031.52. The purchase was disclosed in a filing with the SEC, which is accessible through this link.
Several hedge funds and institutional investors have bought and sold shares of the stock. Deere & Co. raised its position in Valeant Pharmaceuticals International by 121.1% in the fourth quarter. Deere & Co. now owns 15,011 shares of the specialty pharmaceutical company’s stock valued at $1,526,000 after buying an additional 8,222 shares during the period. Napier Park Global Capital US LP acquired a new position in Valeant Pharmaceuticals International during the fourth quarter valued at approximately $1,740,000. State of New Jersey Common Pension Fund D acquired a new position in Valeant Pharmaceuticals International during the fourth quarter valued at approximately $2,033,000. Suntrust Banks Inc. raised its position in Valeant Pharmaceuticals International by 237.8% in the fourth quarter. Suntrust Banks Inc. now owns 30,718 shares of the specialty pharmaceutical company’s stock valued at $3,122,000 after buying an additional 21,625 shares during the period. Finally, Atlantic Trust Group LLC raised its position in Valeant Pharmaceuticals International by 79.7% in the fourth quarter. Atlantic Trust Group LLC now owns 40,283 shares of the specialty pharmaceutical company’s stock valued at $4,095,000 after buying an additional 17,868 shares during the period.
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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