Shares of Valeant Pharmaceuticals International Inc. (NYSE:VRX) dropped 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 trading hands. The stock had previously closed at $30.00.

VRX has been the topic of several recent analyst reports. Mizuho raised shares of Valeant Pharmaceuticals International from an “underperform” rating to a “neutral” rating and set a $25.00 price target on the stock in a report on Thursday, August 11th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $44.00 price target (down from $66.00) on shares of Valeant Pharmaceuticals International in a report on Thursday, May 5th. Rodman & Renshaw cut their price target on shares of Valeant Pharmaceuticals International from $105.00 to $102.00 and set a “buy” rating on the stock in a report on Tuesday, May 3rd. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $33.00 price target (down from $58.00) on shares of Valeant Pharmaceuticals International in a report on Friday, June 3rd. Finally, TD Securities reissued a “hold” rating and set a $38.00 target price on shares of Valeant Pharmaceuticals International in a report on Sunday, July 17th. Six analysts have rated the stock with a sell rating, fifteen have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $60.32.

The company has a 50-day moving average price of $23.85 and a 200-day moving average price of $37.97. The stock’s market cap is $9.99 billion.

Valeant Pharmaceuticals International (NYSE:VRX) last announced its quarterly earnings data on Tuesday, August 9th. The specialty pharmaceutical company reported $1.40 EPS for the quarter, missing the Zacks’ consensus estimate of $1.48 by $0.08. During the same period last year, the firm posted $2.14 EPS. The company earned $2.42 billion during the quarter, compared to analysts’ expectations of $2.47 billion. The firm’s revenue for the quarter was down 11.4% on a year-over-year basis. Analysts expect that Valeant Pharmaceuticals International Inc. will post $6.54 EPS for the current fiscal year.

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

Several institutional investors recently bought and sold shares of the company. State of New Jersey Common Pension Fund D bought a new position in Valeant Pharmaceuticals International during the fourth quarter valued at about $2,033,000. I.G. Investment Management LTD. raised its position 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 last quarter. BNP Paribas Arbitrage SA raised its position 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 last quarter. Finally, Nicholas Co. Inc. WI raised its position 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 last quarter.

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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