Concordia Healthcare Corp. (CXRX) Stock Price Down 2.8%
Concordia Healthcare Corp. (NASDAQ:CXRX) shares fell 2.8% during trading on Thursday . The stock traded as low as $16.25 and last traded at $16.54, with a volume of 474,279 shares traded. The stock had previously closed at $17.01.
CXRX has been the topic of a number of recent research reports. Zacks Investment Research raised shares of Concordia Healthcare Corp. from a “sell” rating to a “hold” rating in a research report on Monday, May 30th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $73.50 target price (down from $81.00) on shares of Concordia Healthcare Corp. in a research report on Saturday, April 23rd. Canaccord Genuity reaffirmed a “buy” rating on shares of Concordia Healthcare Corp. in a research report on Saturday, April 23rd. Finally, Goldman Sachs Group Inc. started coverage on shares of Concordia Healthcare Corp. in a research report on Monday, June 6th. They issued a “neutral” rating and a $32.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $48.88.
The stock’s 50 day moving average price is $19.43 and its 200 day moving average price is $25.69. The company’s market cap is $834.62 million.
Concordia Healthcare Corp. (NASDAQ:CXRX) last released 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 earned $228.50 million during 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, analysts forecast that Concordia Healthcare Corp. will post $5.74 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 29th. Stockholders of record on Friday, July 15th were given a dividend of $0.075 per share. The ex-dividend date of this dividend was Wednesday, July 13th. This represents a $0.30 annualized dividend and a dividend yield of 1.83%.
Other hedge funds have recently added to or reduced their stakes in the company. Diamond Hill Capital Management Inc. increased 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 valued at $34,732,000 after buying an additional 634,880 shares during the last quarter. Morgan Stanley increased 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 during the last quarter. Finally, Swiss National Bank increased 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 during the last quarter.
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