Valeant Pharmaceuticals International Inc. (VRX) Trading Up 3.8%
Valeant Pharmaceuticals International Inc. (NYSE:VRX)’s share price was up 3.8% during trading on Wednesday . The stock traded as high as $25.12 and last traded at $24.44, with a volume of 26,357,308 shares trading hands. The stock had previously closed at $23.54.
Several equities research analysts have recently weighed in on VRX shares. BMO Capital Markets started coverage on shares of Valeant Pharmaceuticals International in a research note on Tuesday, June 28th. They issued a “market perform” rating and a $26.00 target price on the stock. Mizuho reissued a “sell” rating on shares of Valeant Pharmaceuticals International in a research note on Thursday, March 31st. Royal Bank Of Canada reissued a “sector perform” rating and issued a $65.00 target price on shares of Valeant Pharmaceuticals International in a research note on Monday, May 9th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Valeant Pharmaceuticals International in a research note on Tuesday, April 5th. Finally, RBC Capital Markets reissued a “sector perform” rating and issued a $33.00 target price on shares of Valeant Pharmaceuticals International in a research note on Tuesday. Seven research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Valeant Pharmaceuticals International currently has a consensus rating of “Hold” and an average target price of $65.05.
The company’s market capitalization is $8.40 billion. The company has a 50 day moving average price of $23.11 and a 200-day moving average price of $47.79.
Valeant Pharmaceuticals International (NYSE:VRX) last posted its earnings results on Tuesday, June 7th. The specialty pharmaceutical company reported $1.27 EPS for the quarter, missing the Zacks’ consensus estimate of $1.37 by $0.10. The business had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.34 billion. During the same quarter in the prior year, the firm earned $2.36 earnings per share. Valeant Pharmaceuticals International’s revenue was up 9.3% compared to the same quarter last year. On average, equities analysts anticipate that Valeant Pharmaceuticals International Inc. will post $6.59 earnings per share for the current fiscal year.
In related news, CEO Joseph C. Papa bought 202,000 shares of the firm’s stock in a transaction on Friday, June 10th. The shares were bought 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 directly owns 2,442,199 shares of the company’s stock, valued at approximately $59,785,031.52. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Other hedge funds and institutional investors recently bought and sold shares of the company. Deere & Co. boosted its position in Valeant Pharmaceuticals International by 121.1% in the fourth quarter. Deere & Co. now owns 15,011 shares of the specialty pharmaceutical company’s stock worth $1,526,000 after buying an additional 8,222 shares during the last quarter. Napier Park Global Capital US LP bought a new position in Valeant Pharmaceuticals International during the fourth quarter worth approximately $1,740,000. State of New Jersey Common Pension Fund D bought a new position in Valeant Pharmaceuticals International during the fourth quarter worth approximately $2,033,000. Suntrust Banks Inc. boosted its position in Valeant Pharmaceuticals International by 237.8% in the fourth quarter. Suntrust Banks Inc. now owns 30,718 shares of the specialty pharmaceutical company’s stock worth $3,122,000 after buying an additional 21,625 shares during the last quarter. Finally, Atlantic Trust Group LLC boosted its position in Valeant Pharmaceuticals International by 79.7% in the fourth quarter. Atlantic Trust Group LLC now owns 40,283 shares of the specialty pharmaceutical company’s stock worth $4,095,000 after buying an additional 17,868 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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