Investors Sell Shares of Valeant Pharmaceuticals International Inc. (VRX) on Strength (VRX)
Investors sold shares of Valeant Pharmaceuticals International Inc. (NYSE:VRX) on strength during trading on Thursday. $310.41 million flowed into the stock on the tick-up and $334.72 million flowed out of the stock on the tick-down, for a money net flow of $24.31 million out of the stock. Of all equities tracked, Valeant Pharmaceuticals International had the 0th highest net out-flow for the day. Valeant Pharmaceuticals International traded up $0.55 for the day and closed at $31.09
VRX has been the subject of a number of research analyst reports. BMO Capital Markets initiated coverage on shares of Valeant Pharmaceuticals International in a research report on Tuesday, June 28th. They set a “market perform” rating and a $26.00 price objective for the company. Royal Bank Of Canada reiterated a “sector perform” rating and set a $65.00 price objective on shares of Valeant Pharmaceuticals International in a research report on Monday, May 9th. JPMorgan Chase & Co. set a $35.00 target price on shares of Valeant Pharmaceuticals International and gave the stock a “hold” rating in a report on Monday, July 25th. Mizuho reissued an “underperform” rating and set a $11.00 target price on shares of Valeant Pharmaceuticals International in a report on Tuesday, July 26th. Finally, RBC Capital Markets reissued a “sector perform” rating and set a $33.00 target price on shares of Valeant Pharmaceuticals International in a report on Tuesday, July 19th. Six equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $60.32.
The firm’s market capitalization is $10.71 billion. The firm has a 50-day moving average price of $25.08 and a 200 day moving average price of $35.73.
Valeant Pharmaceuticals International (NYSE:VRX) last posted its earnings results on Tuesday, August 9th. The specialty pharmaceutical company reported $1.40 EPS for the quarter, missing analysts’ consensus estimates of $1.48 by $0.08. The firm earned $2.42 billion during the quarter, compared to analysts’ expectations of $2.47 billion. The business’s revenue was down 11.4% on a year-over-year basis. During the same period in the prior year, the company earned $2.14 EPS. Equities research analysts expect that Valeant Pharmaceuticals International Inc. will post $6.54 EPS for the current fiscal year.
In related news, Director Argeris N. Karabelas purchased 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 11th. The shares were bought at an average price of $24.65 per share, for a total transaction of $98,600.00. Following the acquisition, the director now owns 20,726 shares of the company’s stock, valued at approximately $510,895.90. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Joseph C. Papa purchased 202,000 shares of the firm’s stock in a transaction that occurred on Friday, June 10th. The shares were bought 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 directly owns 2,442,199 shares in the company, valued at approximately $59,785,031.52. The disclosure for this purchase can be found here.
A hedge fund recently bought a new stake in Valeant Pharmaceuticals International stock. State of New Jersey Common Pension Fund D purchased a new stake in shares of Valeant Pharmaceuticals International Inc. (NYSE:VRX) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 20,000 shares of the specialty pharmaceutical company’s stock, valued at approximately $2,033,000.
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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