Valeant Pharmaceuticals Intl Inc (NYSE:VRX) (TSE:VRX) had its price objective hoisted by investment analysts at Scotiabank from $12.00 to $14.00 in a note issued to investors on Wednesday, May 10th. The brokerage presently has a “sector perform” rating on the specialty pharmaceutical company’s stock. Scotiabank’s price target points to a potential upside of 11.91% from the company’s previous close.
Several other analysts also recently commented on VRX. Mizuho restated an “underperform” rating and set a $11.00 target price on shares of Valeant Pharmaceuticals Intl in a report on Tuesday, January 10th. Wells Fargo & Co restated an “underperform” rating and set a $11.50 target price on shares of Valeant Pharmaceuticals Intl in a report on Wednesday, January 11th. BTIG Research restated a “neutral” rating on shares of Valeant Pharmaceuticals Intl in a report on Wednesday, January 11th. Canaccord Genuity restated a “hold” rating and set a $17.00 target price on shares of Valeant Pharmaceuticals Intl in a report on Thursday, January 12th. Finally, JPMorgan Chase & Co. restated a “neutral” rating on shares of Valeant Pharmaceuticals Intl in a report on Saturday, January 21st. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Valeant Pharmaceuticals Intl currently has an average rating of “Hold” and a consensus target price of $18.01.
Shares of Valeant Pharmaceuticals Intl (VRX) opened at 12.51 on Wednesday. The firm’s market cap is $4.35 billion. Valeant Pharmaceuticals Intl has a 12 month low of $8.31 and a 12 month high of $32.74. The company’s 50-day moving average is $11.33 and its 200-day moving average is $13.33.
Valeant Pharmaceuticals Intl (NYSE:VRX) last announced its earnings results on Tuesday, May 9th. The specialty pharmaceutical company reported $2.80 EPS for the quarter, topping the consensus estimate of $0.87 by $1.93. The firm had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.17 billion. Valeant Pharmaceuticals Intl had a negative net margin of 22.17% and a positive return on equity of 43.81%. The business’s quarterly revenue was down 11.1% on a year-over-year basis. During the same period last year, the company posted ($1.08) EPS. On average, equities research analysts forecast that Valeant Pharmaceuticals Intl will post $3.89 earnings per share for the current fiscal year.
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In related news, insider Valueact Capital Master Fund, purchased 3,000,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 14th. The stock was acquired at an average price of $10.82 per share, with a total value of $32,460,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Pershing Square Capital Manage sold 18,114,432 shares of the business’s stock in a transaction dated Monday, March 13th. The shares were sold at an average price of $11.00, for a total value of $199,258,752.00. The disclosure for this sale can be found here. In the last three months, insiders bought 3,054,000 shares of company stock valued at $33,103,280. 16.37% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Fosun International Ltd increased its position in Valeant Pharmaceuticals Intl by 13.8% in the third quarter. Fosun International Ltd now owns 303,708 shares of the specialty pharmaceutical company’s stock worth $7,456,000 after buying an additional 36,738 shares during the period. Lakewood Capital Management LP bought a new position in Valeant Pharmaceuticals Intl during the third quarter worth approximately $9,599,000. Jabre Capital Partners S.A. bought a new position in Valeant Pharmaceuticals Intl during the third quarter worth approximately $10,188,000. AMP Capital Investors Ltd increased its position in Valeant Pharmaceuticals Intl by 32.2% in the third quarter. AMP Capital Investors Ltd now owns 220,123 shares of the specialty pharmaceutical company’s stock worth $5,518,000 after buying an additional 53,611 shares during the period. Finally, Commonwealth Bank of Australia increased its position in Valeant Pharmaceuticals Intl by 53.9% in the third quarter. Commonwealth Bank of Australia now owns 25,420 shares of the specialty pharmaceutical company’s stock worth $623,000 after buying an additional 8,900 shares during the period. 64.34% of the stock is owned by institutional investors and hedge funds.
Valeant Pharmaceuticals Intl 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).
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