Shares of Valeant Pharmaceuticals International Inc. (NYSE:VRX) were down 3.2% during mid-day trading on Thursday . The stock traded as low as $28.56 and last traded at $29.05, with a volume of 52,369,139 shares changing hands. The stock had previously closed at $30.00.

Several analysts have issued reports on VRX shares. Guggenheim reaffirmed a “buy” rating and issued a $55.00 price target on shares of Valeant Pharmaceuticals International in a report on Monday, April 25th. BMO Capital Markets reaffirmed a “buy” rating and issued a $66.00 price target on shares of Valeant Pharmaceuticals International in a report on Friday, April 22nd. Rodman & Renshaw reaffirmed a “buy” rating and issued a $105.00 price target on shares of Valeant Pharmaceuticals International in a report on Tuesday, April 26th. S&P Equity Research reaffirmed a “buy” rating on shares of Valeant Pharmaceuticals International in a report on Sunday, May 29th. Finally, Stifel Nicolaus reduced their price objective on shares of Valeant Pharmaceuticals International from $65.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, June 8th. Six equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $59.93.

The company’s market cap is $10.14 billion. The company’s 50-day moving average is $23.35 and its 200-day moving average is $38.51.

Valeant Pharmaceuticals International (NYSE:VRX) last announced its earnings results on Tuesday, August 9th. The specialty pharmaceutical company reported $1.40 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.48 by $0.08. During the same quarter in the prior year, the business earned $2.14 earnings per share. The company had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.47 billion. The company’s revenue for the quarter was down 11.4% compared to the same quarter last year. Equities analysts forecast that Valeant Pharmaceuticals International Inc. will post $6.54 earnings per share for the current year.

In other Valeant Pharmaceuticals International news, Director Argeris N. Karabelas purchased 4,000 shares of the stock in a transaction on Thursday, August 11th. The shares were purchased at an average price of $24.65 per share, with a total value of $98,600.00. Following the acquisition, the director now directly owns 20,726 shares of the company’s stock, valued at approximately $510,895.90. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Joseph C. Papa purchased 202,000 shares of the stock in a transaction on Friday, June 10th. The stock was acquired at an average cost of $24.48 per share, for a total transaction of $4,944,960.00. Following the acquisition, the chief executive officer now directly owns 2,442,199 shares in the company, valued at $59,785,031.52. The disclosure for this purchase can be found here.

A number of large investors have made changes to their positions in the stock. Dimensional Fund Advisors LP raised its stake in shares of Valeant Pharmaceuticals International by 3.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 79,777 shares of the specialty pharmaceutical company’s stock valued at $8,110,000 after buying an additional 2,500 shares during the period. State of New Jersey Common Pension Fund D acquired a new stake in shares of Valeant Pharmaceuticals International during the fourth quarter valued at about $2,033,000. Marshall Wace LLP raised its stake in shares of Valeant Pharmaceuticals International by 76.6% in the fourth quarter. Marshall Wace LLP now owns 65,386 shares of the specialty pharmaceutical company’s stock valued at $6,647,000 after buying an additional 28,365 shares during the period. BNP Paribas Arbitrage SA raised its stake in shares of 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, Nicholas Co. Inc. WI raised its stake in shares of 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.

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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