Valeant Pharmaceuticals International Inc. (NYSE:VRX) shares fell 3.3% during mid-day trading on Friday . The company traded as low as $22.23 and last traded at $22.37, with a volume of 8,816,794 shares trading hands. The stock had previously closed at $23.13.

A number of brokerages have issued reports on VRX. Rodman & Renshaw reiterated a “buy” rating and set a $90.00 price objective on shares of Valeant Pharmaceuticals International in a research note on Thursday. Scotiabank reiterated a “sector perform” rating and set a $32.00 price objective (down previously from $35.00) on shares of Valeant Pharmaceuticals International in a research note on Tuesday. Mizuho reiterated an “underperform” rating and set a $11.00 price objective on shares of Valeant Pharmaceuticals International in a research note on Tuesday. JPMorgan Chase & Co. set a $35.00 price objective on Valeant Pharmaceuticals International and gave the company a “hold” rating in a research note on Monday. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $26.00 target price on shares of Valeant Pharmaceuticals International in a report on Wednesday, July 20th. Seven equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $64.39.

The company’s 50 day moving average is $22.44 and its 200 day moving average is $44.64. The firm’s market capitalization is $7.65 billion.

Valeant Pharmaceuticals International (NYSE:VRX) last released its quarterly earnings results on Tuesday, June 7th. The specialty pharmaceutical company reported $1.27 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.37 by $0.10. The firm had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.34 billion. During the same quarter in the previous year, the firm posted $2.36 earnings per share. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. Equities research analysts expect that Valeant Pharmaceuticals International Inc. will post $6.57 earnings per share for the current year.

In related news, CEO Joseph C. Papa bought 202,000 shares of the company’s stock in a transaction that occurred on Friday, June 10th. The stock was purchased 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 owns 2,442,199 shares of the company’s stock, valued at $59,785,031.52. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Other hedge funds recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in 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 valued at $451,403,000 after buying an additional 330,079 shares during the period. I.G. Investment Management LTD. increased its stake in Valeant Pharmaceuticals International by 31.0% in the fourth quarter. I.G. Investment Management LTD. now owns 1,328,610 shares of the specialty pharmaceutical company’s stock valued at $135,033,000 after buying an additional 314,616 shares during the period. Nicholas Co. Inc. WI increased its stake in Valeant Pharmaceuticals International by 15.6% in the fourth quarter. Nicholas Co. Inc. WI now owns 1,586,925 shares of the specialty pharmaceutical company’s stock valued at $161,310,000 after buying an additional 214,435 shares during the period. BNP Paribas Arbitrage SA increased its stake in Valeant Pharmaceuticals International by 253.0% in the fourth quarter. BNP Paribas Arbitrage SA now owns 284,308 shares of the specialty pharmaceutical company’s stock valued at $28,900,000 after buying an additional 203,760 shares during the period. Finally, Diamond Hill Capital Management Inc. increased its position in Valeant Pharmaceuticals International by 77.8% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 301,374 shares of the specialty pharmaceutical company’s stock valued at $30,635,000 after buying an additional 131,832 shares during the period.

Valeant Pharmaceuticals International, Inc is a pharmaceutical and medical device company. The Company is engaged in developing 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).

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