Concordia Healthcare Corp. (CXRX) Hits New 12-Month Low at $18.32
Concordia Healthcare Corp. (NASDAQ:CXRX) shares hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $18.32 and last traded at $18.48, with a volume of 211,821 shares trading hands. The stock had previously closed at $19.47.
Several analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Concordia Healthcare Corp. from a “buy” rating to a “hold” rating in a research note on Monday, July 18th. TD Securities reissued a “buy” rating and issued a $37.00 price objective (down previously from $45.00) on shares of Concordia Healthcare Corp. in a research note on Wednesday, June 29th. Canaccord Genuity reissued a “buy” rating on shares of Concordia Healthcare Corp. in a research note on Sunday, June 26th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $73.00 price target on shares of Concordia Healthcare Corp. in a report on Tuesday, June 21st. Finally, Goldman Sachs Group Inc. started coverage on shares of Concordia Healthcare Corp. in a report on Monday, June 6th. They issued a “neutral” rating and a $32.00 price target on the stock. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $48.88.
The firm’s market cap is $908.08 million. The company’s 50 day moving average is $22.07 and its 200-day moving average is $27.19.
Concordia Healthcare Corp. (NASDAQ:CXRX) last announced its earnings results on Friday, May 13th. The company reported $1.35 earnings per share for the quarter, missing the consensus estimate of $1.54 by $0.19. The firm had revenue of $228.50 million for the quarter, compared to analyst estimates of $231 million. The firm’s quarterly revenue was up 570.1% compared to the same quarter last year. On average, equities research analysts anticipate that Concordia Healthcare Corp. will post $6.17 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 29th. Stockholders of record on Friday, July 15th will be paid a $0.075 dividend. The ex-dividend date of this dividend is Wednesday, July 13th. This represents a $0.30 annualized dividend and a dividend yield of 1.63%.
Several hedge funds and institutional investors have recently made changes to their positions in CXRX. ProShare Advisors LLC purchased a new position in shares of Concordia Healthcare Corp. during the fourth quarter valued at $1,671,000. Swiss National Bank boosted its stake in Concordia Healthcare Corp. by 26.7% in the fourth quarter. Swiss National Bank now owns 49,810 shares of the company’s stock valued at $2,031,000 after buying an additional 10,510 shares in the last quarter. GSA Capital Partners LLP bought a new stake in Concordia Healthcare Corp. during the fourth quarter valued at about $2,419,000. Thornburg Investment Management Inc. boosted its stake in Concordia Healthcare Corp. by 48.3% in the fourth quarter. Thornburg Investment Management Inc. now owns 116,235 shares of the company’s stock valued at $4,746,000 after buying an additional 37,847 shares in the last quarter. Finally, Morgan Stanley boosted its stake in Concordia Healthcare Corp. by 24.6% in the fourth quarter. Morgan Stanley now owns 269,768 shares of the company’s stock valued at $11,015,000 after buying an additional 53,305 shares in the last quarter.
Concordia Healthcare Corp. is a Canada-based diverse healthcare company. The Company is focused on legacy pharmaceutical products and orphan drugs. The Company operates through three segments, which includes Legacy Pharmaceutical Division, Concordia Pharmaceuticals Inc, which consists of 23 products, including Nilandron, for the treatment of metastatic prostate cancer; Dibenzyline, for the treatment of pheochromocytoma; Lanoxin, for the treatment of mild-to-moderate heart failure and atrial fibrillation; Plaquenil, for the treatment of lupus and rheumatoid arthritis; Donnatal, for the treatment of irritable bowel syndrome, and Zonegran (zonisamide), for treatment of partial seizures in adults with epilepsy.
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