RE:Wells Fargo & Company Drops Coverage on Valeant Wells Fargo & Company Drops Coverage on Valeant Pharmaceuticals International, Inc. (VRX)
Posted by Wayne Landers on Jul 31st, 2017 // No Comments
Wells Fargo & Company dropped coverage on shares of Valeant Pharmaceuticals International, Inc. (NYSE:VRX) (TSE:VRX) in a research report sent to investors on Sunday.
Several other brokerages also recently issued reports on VRX. BMO Capital Markets reiterated a hold rating and issued a $15.00 price target on shares of Valeant Pharmaceuticals International in a report on Thursday. Zacks Investment Research upgraded Valeant Pharmaceuticals International from a strong sell rating to a hold rating in a report on Thursday. J P Morgan Chase & Co set a $10.00 price target on Valeant Pharmaceuticals International and gave the company a hold rating in a report on Monday, July 17th. Deutsche Bank AG set a $19.00 price target on Valeant Pharmaceuticals International and gave the company a hold rating in a report on Monday, July 17th. Finally, Stifel Nicolaus reiterated a buy rating and issued a $35.00 price target on shares of Valeant Pharmaceuticals International in a report on Friday, June 30th. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $16.86. Valeant Pharmaceuticals International (NYSE VRX) traded down 2.26% on Friday, reaching $16.46. The company had a trading volume of 15,885,259 shares. The firm has a 50-day moving average of $15.93 and a 200-day moving average of $13.36. The stock’s market capitalization is $5.73 billion. Valeant Pharmaceuticals International has a 12 month low of $8.31 and a 12 month high of $32.74.
Valeant Pharmaceuticals International (NYSE:VRX) (TSE:VRX) last announced its quarterly earnings results on Tuesday, May 9th. The specialty pharmaceutical company reported $2.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $1.93. Valeant Pharmaceuticals International had a positive return on equity of 58.02% and a negative net margin of 14.96%. The firm had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.17 billion. During the same period in the prior year, the firm earned ($1.08) EPS. The firm’s quarterly revenue was down 11.1% compared to the same quarter last year. On average, equities research analysts expect that Valeant Pharmaceuticals International will post $3.89 earnings per share for the current fiscal year.
In other Valeant Pharmaceuticals International news, Director Schutter Richard U. De bought 20,000 shares of the business’s stock in a transaction on Thursday, May 11th. The shares were purchased at an average price of $13.90 per share, with a total value of $278,000.00. Following the completion of the acquisition, the director now directly owns 70,572 shares of the company’s stock, valued at approximately $980,950.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 5.87% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Comerica Bank boosted its position in shares of Valeant Pharmaceuticals International by 15.2% in the fourth quarter. Comerica Bank now owns 20,145 shares of the specialty pharmaceutical company’s stock worth $309,000 after buying an additional 2,655 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Valeant Pharmaceuticals International by 86.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 576,634 shares of the specialty pharmaceutical company’s stock worth $8,372,000 after buying an additional 268,116 shares in the last quarter. Guggenheim Capital LLC boosted its position in shares of Valeant Pharmaceuticals International by 18.6% in the fourth quarter. Guggenheim Capital LLC now owns 17,540 shares of the specialty pharmaceutical company’s stock worth $255,000 after buying an additional 2,752 shares in the last quarter. Gulf International Bank UK Ltd boosted its position in shares of Valeant Pharmaceuticals International by 1.1% in the first quarter. Gulf International Bank UK Ltd now owns 98,323 shares of the specialty pharmaceutical company’s stock worth $1,084,000 after buying an additional 1,100 shares in the last quarter. Finally, Capstone Asset Management Co. boosted its position in shares of Valeant Pharmaceuticals International by 13.6% in the first quarter. Capstone Asset Management Co. now owns 32,988 shares of the specialty pharmaceutical company’s stock worth $364,000 after buying an additional 3,940 shares in the last quarter. 50.53% of the stock is currently owned by hedge funds and other institutional investors.
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).