IPG Investment Advisors LLC Purchases Shares of 11,750 Valeant Pharmaceuticals International, Inc. (NYSE:VRX)

IPG Investment Advisors LLC purchased a new position in shares of Valeant Pharmaceuticals International, Inc. (NYSE:VRX) (TSE:VRX) during the second quarter, according to its most recent 13F filing with the SEC. The fund purchased 11,750 shares of the specialty pharmaceutical company’s stock, valued at approximately $203,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of VRX. Cambridge Advisors Inc. raised its position in Valeant Pharmaceuticals International by 0.6% in the first quarter. Cambridge Advisors Inc. now owns 12,650 shares of the specialty pharmaceutical company’s stock worth $140,000 after buying an additional 75 shares during the period. Armstrong Henry H Associates Inc. raised its position in Valeant Pharmaceuticals International by 0.3% in the second quarter. Armstrong Henry H Associates Inc. now owns 93,753 shares of the specialty pharmaceutical company’s stock worth $1,622,000 after buying an additional 295 shares during the period. World Asset Management Inc raised its position in Valeant Pharmaceuticals International by 1.5% in the first quarter. World Asset Management Inc now owns 21,502 shares of the specialty pharmaceutical company’s stock worth $237,000 after buying an additional 328 shares during the period. NEXT Financial Group Inc raised its position in Valeant Pharmaceuticals International by 6.2% in the second quarter. NEXT Financial Group Inc now owns 10,303 shares of the specialty pharmaceutical company’s stock worth $178,000 after buying an additional 600 shares during the period. Finally, Janney Montgomery Scott LLC raised 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 worth $216,000 after buying an additional 848 shares during the period. 50.96% of the stock is currently owned by hedge funds and other institutional investors.

Valeant Pharmaceuticals International, Inc. (NYSE:VRX) opened at 14.39 on Friday. Valeant Pharmaceuticals International, Inc. has a 52 week low of $8.31 and a 52 week high of $32.74. The stock’s 50 day moving average is $16.18 and its 200-day moving average is $13.40. The firm’s market capitalization is $5.02 billion.

Valeant Pharmaceuticals International (NYSE:VRX) (TSE:VRX) last issued its earnings results on Tuesday, August 8th. The specialty pharmaceutical company reported $1.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.97 by $0.08. Valeant Pharmaceuticals International had a negative net margin of 12.40% and a positive return on equity of 59.89%. The company had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.23 billion. During the same quarter in the previous year, the company earned ($0.88) EPS. The firm’s revenue for the quarter was down 7.7% compared to the same quarter last year. On average, equities research analysts expect that Valeant Pharmaceuticals International, Inc. will post $3.89 EPS for the current year.

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VRX has been the topic of a number of research reports. Wells Fargo & Company dropped coverage on shares of Valeant Pharmaceuticals International in a research note on Sunday, July 30th. BidaskClub downgraded shares of Valeant Pharmaceuticals International from a “hold” rating to a “sell” rating in a report on Friday, June 16th. Scotiabank cut their price target on shares of Valeant Pharmaceuticals International from $15.00 to $12.00 and set a “sector perform” rating for the company in a report on Wednesday, April 26th. Vetr downgraded shares of Valeant Pharmaceuticals International from a “strong-buy” rating to a “buy” rating and set a $14.82 price target for the company. in a report on Monday, May 22nd. Finally, Canaccord Genuity set a $12.00 price target on shares of Valeant Pharmaceuticals International and gave the stock a “hold” rating in a report on Monday, May 8th. Four analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $17.31.

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).

Institutional Ownership by Quarter for Valeant Pharmaceuticals International (NYSE:VRX)

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