Valeant Pharmaceuticals International’s (NYSE:VRX) “Sell” Rating Reaffirmed at Wells Fargo & Company

Wells Fargo & Company reiterated their sell rating on shares of Valeant Pharmaceuticals International, Inc. (NYSE:VRX) (TSE:VRX) in a report released on Friday morning.

VRX has been the subject of a number of other reports. BidaskClub downgraded Valeant Pharmaceuticals International from a hold rating to a sell rating in a report on Friday, June 16th. Scotiabank lowered their price target on 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 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. Mizuho reiterated an underperform rating and issued a $8.00 price target (down from $9.00) on shares of Valeant Pharmaceuticals International in a report on Monday, April 17th. Finally, Canaccord Genuity set a $12.00 price target on Valeant Pharmaceuticals International and gave the company a hold rating in a report on Monday, May 8th. Four equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Valeant Pharmaceuticals International presently has a consensus rating of Hold and a consensus target price of $16.81.

Shares of Valeant Pharmaceuticals International (NYSE VRX) traded down 1.21% during midday trading on Friday, hitting $17.16. The stock had a trading volume of 13,130,711 shares. Valeant Pharmaceuticals International has a 12-month low of $8.31 and a 12-month high of $32.74. The stock has a 50-day moving average price of $13.59 and a 200-day moving average price of $12.98. The stock’s market cap is $5.97 billion.

Valeant Pharmaceuticals International (NYSE:VRX) (TSE:VRX) last released its quarterly earnings data on Tuesday, May 9th. The specialty pharmaceutical company reported $2.80 EPS for the quarter, topping 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 business’s revenue for the quarter was down 11.1% on a year-over-year basis. During the same period in the prior year, the firm posted ($1.08) EPS. Equities analysts forecast that Valeant Pharmaceuticals International will post $3.89 earnings per share for the current year.

TRADEMARK VIOLATION WARNING: “[[title]]” was first published by [[site]] and is owned by of [[site]]. If you are accessing this piece of content on another website, it was copied illegally and republished in violation of U.S. & international trademark & copyright law. The correct version of this piece of content can be accessed at [[permalink]].

In other news, Director Schutter Richard U. De purchased 20,000 shares of the company’s stock in a transaction on Thursday, May 11th. The shares were bought at an average price of $13.90 per share, for a total transaction of $278,000.00. Following the completion of the purchase, the director now owns 70,572 shares of the company’s stock, valued at $980,950.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 5.87% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of VRX. ValueAct Holdings L.P. raised its position in 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 in the last quarter. Norges Bank bought a new position in Valeant Pharmaceuticals International during the fourth quarter worth approximately $39,286,000. Saba Capital Management L.P. raised its position in Valeant Pharmaceuticals International by 132.4% in the first quarter. Saba Capital Management L.P. now owns 2,315,900 shares of the specialty pharmaceutical company’s stock worth $25,544,000 after buying an additional 1,319,311 shares in the last quarter. Bogle Investment Management L P DE bought a new position in Valeant Pharmaceuticals International during the first quarter worth approximately $11,223,000. Finally, Morgan Stanley raised its position in 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 in the last quarter. Institutional investors and hedge funds own 50.45% 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).