Concordia Healthcare Corp. (CXRX) Trading Down 3%
Concordia Healthcare Corp. (NASDAQ:CXRX)’s share price was down 3% during trading on Friday . The company traded as low as $17.54 and last traded at $17.60, with a volume of 165,369 shares traded. The stock had previously closed at $18.15.
A number of equities analysts recently commented on CXRX shares. Zacks Investment Research cut Concordia Healthcare Corp. from a “hold” rating to a “sell” rating in a report on Monday, April 4th. Royal Bank Of Canada reiterated an “outperform” rating and set a $73.50 price target (down previously from $81.00) on shares of Concordia Healthcare Corp. in a report on Saturday, April 23rd. Canaccord Genuity reiterated a “buy” rating on shares of Concordia Healthcare Corp. in a report on Saturday, April 23rd. Finally, Goldman Sachs Group Inc. started coverage on Concordia Healthcare Corp. in a report on Monday, June 6th. They set a “neutral” rating and a $32.00 price target for the company. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Concordia Healthcare Corp. presently has an average rating of “Buy” and an average target price of $48.88.
The firm’s 50 day moving average price is $21.00 and its 200-day moving average price is $26.50. The firm’s market capitalization is $890.23 million.
Concordia Healthcare Corp. (NASDAQ:CXRX) last posted its earnings results on Friday, May 13th. The company reported $1.35 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.54 by $0.19. The company had revenue of $228.50 million for the quarter, compared to the consensus estimate of $231 million. The company’s revenue for the quarter was up 570.1% on a year-over-year basis. Analysts predict that Concordia Healthcare Corp. will post $6.09 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 29th. Investors of record on Friday, July 15th were issued a $0.075 dividend. The ex-dividend date of this dividend was Wednesday, July 13th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.72%.
Other large investors have bought and sold shares of the company. Diamond Hill Capital Management Inc. raised its stake in Concordia Healthcare Corp. by 294.2% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 850,645 shares of the company’s stock worth $34,732,000 after buying an additional 634,880 shares in the last quarter. Morgan Stanley increased its stake in shares of Concordia Healthcare Corp. by 24.6% in the fourth quarter. Morgan Stanley now owns 269,768 shares of the company’s stock worth $11,015,000 after buying an additional 53,305 shares during the last quarter. Finally, Swiss National Bank increased its stake in shares of Concordia Healthcare Corp. by 26.7% in the fourth quarter. Swiss National Bank now owns 49,810 shares of the company’s stock worth $2,031,000 after buying an additional 10,510 shares during 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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