Valeant Pharmaceuticals International, Inc. (NYSE:VRX) (TSE:VRX) was the target of a significant decrease in short interest during the month of June. As of June 30th, there was short interest totalling 34,135,143 shares, a decrease of 23.9% from the June 15th total of 44,857,712 shares. Based on an average daily volume of 33,585,673 shares, the days-to-cover ratio is currently 1.0 days. Approximately 10.1% of the company’s shares are short sold.

A number of research firms have issued reports on VRX. Jefferies Group LLC set a $18.00 target price on Valeant Pharmaceuticals International and gave the company a “buy” rating in a research note on Saturday, May 6th. Guggenheim began coverage on Valeant Pharmaceuticals International in a research note on Saturday, June 17th. They issued a “buy” rating and a $18.00 target price for the company. Mizuho reissued an “underperform” rating and issued a $8.00 target price on shares of Valeant Pharmaceuticals International in a research note on Tuesday, June 20th. Stifel Nicolaus reissued a “buy” rating and issued a $35.00 target price on shares of Valeant Pharmaceuticals International in a research note on Monday. Finally, Deutsche Bank AG set a $19.00 target price on Valeant Pharmaceuticals International and gave the company a “hold” rating in a research note on Monday. Four analysts have rated the stock with a sell rating, thirteen have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $16.81.

In related news, Director Schutter Richard U. De acquired 20,000 shares of the company’s stock in a transaction that occurred on Thursday, May 11th. The stock was acquired at an average price of $13.90 per share, for a total transaction of $278,000.00. Following the completion of the acquisition, the director now owns 70,572 shares of the company’s stock, valued at approximately $980,950.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 5.87% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. ValueAct Holdings L.P. increased its position in shares of Valeant Pharmaceuticals International by 20.0% in the first quarter. ValueAct Holdings L.P. now owns 17,997,224 shares of the specialty pharmaceutical company’s stock worth $198,509,000 after buying an additional 3,002,963 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Valeant Pharmaceuticals International by 9.8% in the first quarter. Vanguard Group Inc. now owns 6,980,074 shares of the specialty pharmaceutical company’s stock worth $76,990,000 after buying an additional 621,618 shares during the last quarter. Bank of Montreal Can increased its position in shares of Valeant Pharmaceuticals International by 9.8% in the second quarter. Bank of Montreal Can now owns 6,330,670 shares of the specialty pharmaceutical company’s stock worth $109,521,000 after buying an additional 564,215 shares during the last quarter. OppenheimerFunds Inc. increased its position in shares of Valeant Pharmaceuticals International by 17.1% in the first quarter. OppenheimerFunds Inc. now owns 4,489,169 shares of the specialty pharmaceutical company’s stock worth $49,516,000 after buying an additional 656,116 shares during the last quarter. Finally, Morgan Stanley increased its position in shares of Valeant Pharmaceuticals International by 48.2% in the first quarter. Morgan Stanley now owns 2,777,063 shares of the specialty pharmaceutical company’s stock worth $30,631,000 after buying an additional 903,256 shares during the last quarter. Hedge funds and other institutional investors own 50.45% of the company’s stock.

Shares of Valeant Pharmaceuticals International (NYSE:VRX) opened at 17.37 on Tuesday. Valeant Pharmaceuticals International has a 1-year low of $8.31 and a 1-year high of $32.74. The firm has a 50-day moving average price of $13.59 and a 200 day moving average price of $12.98. The company’s market cap is $6.04 billion.

Valeant Pharmaceuticals International (NYSE:VRX) (TSE:VRX) last released its quarterly earnings results on Tuesday, May 9th. The specialty pharmaceutical company reported $2.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $1.93. The business had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.17 billion. Valeant Pharmaceuticals International had a positive return on equity of 58.02% and a negative net margin of 14.96%. The company’s quarterly revenue was down 11.1% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.08) EPS. On average, analysts predict that Valeant Pharmaceuticals International will post $3.89 EPS for the current fiscal year.

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About Valeant Pharmaceuticals International

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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