Valeant Pharmaceuticals International, Inc. (VRX) Receives $17.40 Consensus Price Target from Brokerages

Valeant Pharmaceuticals International, Inc. (NYSE:VRX) (TSE:VRX) has been assigned an average rating of “Hold” from the twenty-three brokerages that are presently covering the firm, MarketBeat reports. Five analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have issued a buy rating on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $17.35.

A number of equities analysts recently weighed in on VRX shares. Royal Bank Of Canada set a $19.00 price objective on shares of Valeant Pharmaceuticals International and gave the stock a “sector perform” rating in a report on Monday, June 19th. Zacks Investment Research lowered shares of Valeant Pharmaceuticals International from a “hold” rating to a “strong sell” rating in a report on Thursday, July 13th. ValuEngine lowered shares of Valeant Pharmaceuticals International from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Wells Fargo & Company dropped coverage on shares of Valeant Pharmaceuticals International in a report on Sunday, July 30th. Finally, Cantor Fitzgerald restated a “buy” rating and issued a $23.00 price objective on shares of Valeant Pharmaceuticals International in a report on Tuesday, August 29th.

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Valeant Pharmaceuticals International (NYSE VRX) traded up 0.28% during midday trading on Friday, reaching $14.46. 5,490,229 shares of the company’s stock traded hands. The firm’s market cap is $5.04 billion. Valeant Pharmaceuticals International has a 52-week low of $8.31 and a 52-week high of $24.30. The firm’s 50-day moving average is $14.02 and its 200 day moving average is $13.51.

Valeant Pharmaceuticals International (NYSE:VRX) (TSE:VRX) last announced its quarterly earnings data on Tuesday, August 8th. The specialty pharmaceutical company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $2.23 billion. During the same period in the previous year, the business earned ($0.88) EPS. The firm’s revenue for the quarter was down 7.7% on a year-over-year basis. Equities research analysts expect that Valeant Pharmaceuticals International will post $3.89 earnings per share for the current fiscal year.

In other news, Director Schutter Richard U. De bought 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The stock was bought at an average price of $14.33 per share, with a total value of $143,300.00. Following the acquisition, the director now owns 77,479 shares of the company’s stock, valued at approximately $1,110,274.07. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 5.87% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Valeant Pharmaceuticals International by 2.9% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 490,395 shares of the specialty pharmaceutical company’s stock worth $8,509,000 after purchasing an additional 13,810 shares in the last quarter. Morgan Stanley lifted its stake in Valeant Pharmaceuticals International by 48.2% in the 1st quarter. Morgan Stanley now owns 2,777,063 shares of the specialty pharmaceutical company’s stock worth $30,631,000 after purchasing an additional 903,256 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in Valeant Pharmaceuticals International by 61.2% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 41,414 shares of the specialty pharmaceutical company’s stock worth $457,000 after purchasing an additional 15,719 shares in the last quarter. Legal & General Group Plc lifted its stake in Valeant Pharmaceuticals International by 9.2% in the 2nd quarter. Legal & General Group Plc now owns 1,435,670 shares of the specialty pharmaceutical company’s stock worth $23,895,000 after purchasing an additional 121,032 shares in the last quarter. Finally, Paloma Partners Management Co lifted its stake in Valeant Pharmaceuticals International by 12.0% in the 1st quarter. Paloma Partners Management Co now owns 27,996 shares of the specialty pharmaceutical company’s stock worth $310,000 after purchasing an additional 2,996 shares in the last quarter. Institutional investors and hedge funds own 50.48% of the company’s stock.

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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