Phoenix Investment Adviser LLC increased its stake in Valeant Pharmaceuticals International, Inc. (NYSE:VRX) (TSE:VRX) by 137.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 175,000 shares of the specialty pharmaceutical company’s stock after buying an additional 101,200 shares during the period. Valeant Pharmaceuticals International comprises 2.1% of Phoenix Investment Adviser LLC’s portfolio, making the stock its 7th largest position. Phoenix Investment Adviser LLC owned approximately 0.05% of Valeant Pharmaceuticals International worth $3,028,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in the company. ValueAct Holdings L.P. increased 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 valued at $198,509,000 after buying an additional 3,002,963 shares during the period. Vanguard Group Inc. increased its position in Valeant Pharmaceuticals International by 9.8% in the first quarter. Vanguard Group Inc. now owns 6,980,074 shares of the specialty pharmaceutical company’s stock valued at $76,990,000 after buying an additional 621,618 shares during the period. Bank of Montreal Can increased its position in Valeant Pharmaceuticals International by 9.8% in the second quarter. Bank of Montreal Can now owns 6,330,670 shares of the specialty pharmaceutical company’s stock valued at $109,521,000 after buying an additional 564,215 shares during the period. OppenheimerFunds Inc. increased its position in Valeant Pharmaceuticals International by 17.1% in the first quarter. OppenheimerFunds Inc. now owns 4,489,169 shares of the specialty pharmaceutical company’s stock valued at $49,516,000 after buying an additional 656,116 shares during the period. Finally, Morgan Stanley increased 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 valued at $30,631,000 after buying an additional 903,256 shares during the period. 50.96% of the stock is currently owned by hedge funds and other institutional investors.
Valeant Pharmaceuticals International, Inc. (VRX) traded up 0.35% during mid-day trading on Wednesday, hitting $14.40. 993,756 shares of the company’s stock traded hands. The stock’s market cap is $5.02 billion. Valeant Pharmaceuticals International, Inc. has a one year low of $8.31 and a one year high of $32.74. The firm’s 50-day moving average price is $16.09 and its 200-day moving average price is $13.39.
Valeant Pharmaceuticals International (NYSE:VRX) (TSE:VRX) last issued its quarterly earnings data on Tuesday, August 8th. The specialty pharmaceutical company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.08. Valeant Pharmaceuticals International had a positive return on equity of 59.89% and a negative net margin of 12.40%. The firm had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.23 billion. During the same quarter last year, the firm earned ($0.88) EPS. Valeant Pharmaceuticals International’s quarterly revenue was down 7.7% on a year-over-year basis. On average, analysts forecast that Valeant Pharmaceuticals International, Inc. will post $3.89 EPS for the current fiscal year.
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Several equities analysts have recently commented on VRX shares. Wells Fargo & Company reissued an “underperform” rating on shares of Valeant Pharmaceuticals International in a report on Monday, June 12th. J P Morgan Chase & Co reissued a “hold” rating on shares of Valeant Pharmaceuticals International in a report on Tuesday, May 9th. Zacks Investment Research downgraded shares of Valeant Pharmaceuticals International from a “hold” rating to a “strong sell” rating in a report on Thursday, July 13th. Stifel Nicolaus reissued a “buy” rating and issued a $35.00 target price on shares of Valeant Pharmaceuticals International in a report on Thursday, August 10th. Finally, BidaskClub raised shares of Valeant Pharmaceuticals International from a “sell” rating to a “hold” rating in a report on Friday, June 23rd. Four analysts have rated the stock with a sell rating, fourteen have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Valeant Pharmaceuticals International presently has a consensus rating of “Hold” and an average target price of $17.81.
In other Valeant Pharmaceuticals International news, Director Schutter Richard U. De acquired 10,000 shares of the stock in a transaction on Monday, August 21st. The stock was purchased at an average price of $14.33 per share, for a total transaction of $143,300.00. Following the purchase, the director now directly owns 77,479 shares in the company, valued at $1,110,274.07. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 5.87% of the stock is owned by company insiders.
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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