Valeant Pharmaceuticals International, Inc. (NYSE:VRX) Sees Significant Decrease in Short Interest

Valeant Pharmaceuticals International, Inc. (NYSE:VRX) (TSE:VRX) saw a large drop in short interest during the month of June. As of June 30th, there was short interest totalling 34,135,143 shares, a drop of 23.9% from the June 15th total of 44,857,712 shares. Approximately 10.1% of the shares of the company are short sold. Based on an average trading volume of 33,585,673 shares, the days-to-cover ratio is currently 1.0 days.

Valeant Pharmaceuticals International (NYSE VRX) opened at 16.84 on Monday. The company’s market cap is $5.86 billion. Valeant Pharmaceuticals International has a 12-month low of $8.31 and a 12-month high of $32.74. The firm has a 50-day moving average price of $15.93 and a 200-day moving average price of $13.36.

Valeant Pharmaceuticals International (NYSE:VRX) (TSE:VRX) last issued its quarterly earnings data on Tuesday, May 9th. The specialty pharmaceutical company reported $2.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $1.93. The company had revenue of $2.11 billion for the quarter, compared to analyst estimates 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 quarterly revenue was down 11.1% compared to the same quarter last year. During the same quarter last year, the company posted ($1.08) earnings per share. On average, analysts forecast that Valeant Pharmaceuticals International will post $3.89 earnings per share for the current fiscal year.

A number of research firms recently weighed in on VRX. J P Morgan Chase & Co set a $10.00 target price on Valeant Pharmaceuticals International and gave the stock a “hold” rating in a research report on Monday, July 17th. BTIG Research reiterated a “neutral” rating on shares of Valeant Pharmaceuticals International in a research report on Wednesday, May 10th. Mizuho reiterated an “underperform” rating and issued a $8.00 price objective (down previously from $9.00) on shares of Valeant Pharmaceuticals International in a research report on Monday, April 17th. BMO Capital Markets reiterated a “market perform” rating on shares of Valeant Pharmaceuticals International in a research report on Wednesday, May 10th. Finally, Guggenheim initiated coverage on Valeant Pharmaceuticals International in a research report on Saturday, June 17th. They issued a “buy” rating and a $18.00 price objective for the company. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $16.86.

In other news, Director Schutter Richard U. De acquired 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 11th. The stock was bought at an average price of $13.90 per share, with a total value of $278,000.00. Following the acquisition, the director now owns 70,572 shares in the company, valued at approximately $980,950.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 5.87% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in VRX. Gruss & Co. Inc. bought a new position in Valeant Pharmaceuticals International during the first quarter worth about $104,000. Financial Architects Inc raised 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 worth $105,000 after buying an additional 1,500 shares in the last quarter. Harbor Advisors LLC bought a new position in Valeant Pharmaceuticals International during the first quarter worth about $110,000. WMS Partners LLC bought a new position in Valeant Pharmaceuticals International during the first quarter worth about $116,000. Finally, Brave Asset Management Inc. bought a new position in Valeant Pharmaceuticals International during the first quarter worth about $119,000. 50.53% of the stock is currently owned by hedge funds and other institutional investors.

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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).