HealthInvest Partners AB acquired a new stake in shares of Concordia Healthcare Corp. (NASDAQ:CXRX) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 543,000 shares of the company’s stock, valued at approximately $11,696,000. Concordia Healthcare Corp. accounts for 5.4% of HealthInvest Partners AB’s portfolio, making the stock its 14th largest position.

Several other hedge funds and other institutional investors have also bought and sold shares of CXRX. Legal & General Group Plc raised its position in Concordia Healthcare Corp. by 91.2% in the first quarter. Legal & General Group Plc now owns 4,403 shares of the company’s stock valued at $113,000 after buying an additional 2,100 shares during the last quarter. HRS Investment Holdings LLC increased its position in shares of Concordia Healthcare Corp. by 100.0% in the first quarter. HRS Investment Holdings LLC now owns 15,400 shares of the company’s stock worth $394,000 after buying an additional 7,700 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Concordia Healthcare Corp. by 12.4% in the first quarter. Geode Capital Management LLC now owns 20,553 shares of the company’s stock worth $526,000 after buying an additional 2,270 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Concordia Healthcare Corp. by 15.5% in the first quarter. Goldman Sachs Group Inc. now owns 79,981 shares of the company’s stock worth $2,047,000 after buying an additional 10,734 shares in the last quarter. Finally, CIBC World Markets Inc. increased its position in shares of Concordia Healthcare Corp. by 22.3% in the first quarter. CIBC World Markets Inc. now owns 172,634 shares of the company’s stock worth $4,419,000 after buying an additional 31,517 shares in the last quarter. 33.93% of the stock is owned by institutional investors and hedge funds.

Shares of Concordia Healthcare Corp. (NASDAQ:CXRX) traded down 12.11% during trading on Wednesday, hitting $4.50. 2,267,009 shares of the stock were exchanged. The firm has a 50 day moving average of $9.89 and a 200-day moving average of $21.62. Concordia Healthcare Corp. has a 12-month low of $4.45 and a 12-month high of $69.60. The company’s market cap is $229.58 million.

Concordia Healthcare Corp. (NASDAQ:CXRX) last released its quarterly earnings results on Friday, August 12th. The company reported $1.38 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.38. The firm earned $231.70 million during the quarter, compared to analysts’ expectations of $229.76 million. Concordia Healthcare Corp. had a positive return on equity of 25.18% and a negative net margin of 81.80%. The business’s quarterly revenue was up 208.1% on a year-over-year basis. On average, analysts forecast that Concordia Healthcare Corp. will post $5.17 earnings per share for the current year.

CXRX has been the subject of a number of recent research reports. Canaccord Genuity set a $20.00 price target on shares of Concordia Healthcare Corp. and gave the stock a “buy” rating in a research note on Monday, August 15th. RBC Capital Markets reiterated an “outperform” rating and issued a $35.00 price target on shares of Concordia Healthcare Corp. in a research note on Tuesday, August 23rd. Zacks Investment Research upgraded shares of Concordia Healthcare Corp. from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a research note on Wednesday, July 13th. CIBC downgraded shares of Concordia Healthcare Corp. from a “sector perform” rating to an “underperform” rating and set a $7.80 price target for the company. in a research note on Monday, August 15th. Finally, TD Securities reiterated a “buy” rating and issued a $37.00 price target (down previously from $45.00) on shares of Concordia Healthcare Corp. in a research note on Wednesday, June 29th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $37.79.

About Concordia Healthcare Corp.

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