Valeant Pharmaceuticals International, Inc. (NYSE:VRX) (TSE:VRX) announced its earnings results on Tuesday. The specialty pharmaceutical company reported $1.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.08, Morningstar.com reports. Valeant Pharmaceuticals International had a negative net margin of 14.96% and a positive return on equity of 58.02%. The company had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.23 billion. During the same period in the prior year, the business earned ($0.88) earnings per share. Valeant Pharmaceuticals International’s quarterly revenue was down 7.7% on a year-over-year basis.

Shares of Valeant Pharmaceuticals International (NYSE VRX) traded down 10.04% during midday trading on Wednesday, hitting $14.07. 39,072,361 shares of the stock traded hands. The stock’s market capitalization is $4.90 billion. The firm has a 50-day moving average price of $16.44 and a 200-day moving average price of $13.39. Valeant Pharmaceuticals International has a 52 week low of $8.31 and a 52 week high of $32.74.

A number of brokerages have recently issued reports on VRX. Jefferies Group LLC set a $18.00 target price on shares of Valeant Pharmaceuticals International and gave the stock a “buy” rating in a research report on Saturday, May 6th. Guggenheim started coverage on shares of Valeant Pharmaceuticals International in a report on Saturday, June 17th. They issued a “buy” rating and a $18.00 price objective on the stock. Mizuho restated an “underperform” rating and issued a $8.00 price objective on shares of Valeant Pharmaceuticals International in a report on Tuesday, June 20th. Piper Jaffray Companies set a $14.00 price objective on shares of Valeant Pharmaceuticals International and gave the company a “sell” rating in a report on Wednesday. Finally, HC Wainwright set a $17.00 price objective on shares of Valeant Pharmaceuticals International and gave the company a “hold” rating in a report on Wednesday. Four research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $17.26.

In other Valeant Pharmaceuticals International news, Director Schutter Richard U. De acquired 20,000 shares of the stock in a transaction on Thursday, May 11th. The shares were purchased 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 in the company, valued at approximately $980,950.80. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 5.87% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Financial Architects Inc increased its position in Valeant Pharmaceuticals International by 18.6% in the first quarter. Financial Architects Inc now owns 9,550 shares of the specialty pharmaceutical company’s stock valued at $105,000 after buying an additional 1,500 shares during the last quarter. Janney Montgomery Scott LLC increased its position in Valeant Pharmaceuticals International by 4.5% in the first quarter. Janney Montgomery Scott LLC now owns 19,573 shares of the specialty pharmaceutical company’s stock valued at $216,000 after buying an additional 848 shares during the last quarter. Korea Investment CORP acquired a new position in Valeant Pharmaceuticals International during the first quarter valued at $225,000. Sigma Planning Corp acquired a new position in Valeant Pharmaceuticals International during the first quarter valued at $184,000. Finally, Nationwide Fund Advisors increased its position in Valeant Pharmaceuticals International by 3.8% in the first quarter. Nationwide Fund Advisors now owns 51,500 shares of the specialty pharmaceutical company’s stock valued at $568,000 after buying an additional 1,900 shares during the last quarter. Hedge funds and other institutional investors own 51.14% of the company’s stock.

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Valeant Pharmaceuticals International Company Profile

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).

Earnings History for Valeant Pharmaceuticals International (NYSE:VRX)

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