Valeant Pharmaceuticals International (VRX) Trading Up 6.4%

Valeant Pharmaceuticals International, Inc. (NYSE:VRX) (TSE:VRX) shares were up 6.4% during mid-day trading on Wednesday . The company traded as high as $22.15 and last traded at $21.87. Approximately 41,243,300 shares changed hands during trading, an increase of 129% from the average daily volume of 18,046,740 shares. The stock had previously closed at $20.55.

A number of research analysts recently issued reports on VRX shares. Zacks Investment Research downgraded shares of Valeant Pharmaceuticals International from a “hold” rating to a “sell” rating in a research report on Thursday, October 12th. Piper Jaffray Companies set a $14.00 target price on shares of Valeant Pharmaceuticals International and gave the company a “sell” rating in a research report on Sunday, October 22nd. Vetr upgraded shares of Valeant Pharmaceuticals International from a “strong sell” rating to a “sell” rating and set a $12.46 target price for the company in a research report on Monday, September 18th. Wells Fargo & Company reaffirmed a “sell” rating on shares of Valeant Pharmaceuticals International in a report on Monday, November 13th. Finally, HC Wainwright reaffirmed a “hold” rating and issued a $17.00 price objective on shares of Valeant Pharmaceuticals International in a report on Monday, September 18th. Six analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $17.72.

The company has a debt-to-equity ratio of 4.84, a quick ratio of 1.03 and a current ratio of 1.26. The firm has a market capitalization of $6,870.75, a price-to-earnings ratio of 3.20, a price-to-earnings-growth ratio of 0.54 and a beta of -0.22.

In related news, Director John Paulson bought 344,216 shares of the business’s stock in a transaction dated Thursday, November 16th. The stock was acquired at an average price of $14.40 per share, with a total value of $4,956,710.40. Following the completion of the purchase, the director now directly owns 94,559 shares of the company’s stock, valued at $1,361,649.60. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 5.87% of the stock is owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Eaton Vance Management increased its stake in shares of Valeant Pharmaceuticals International by 1.2% during the second quarter. Eaton Vance Management now owns 43,469 shares of the specialty pharmaceutical company’s stock worth $752,000 after purchasing an additional 500 shares in the last quarter. Commonwealth Bank of Australia increased its stake in shares of Valeant Pharmaceuticals International by 0.7% during the second quarter. Commonwealth Bank of Australia now owns 108,806 shares of the specialty pharmaceutical company’s stock worth $1,887,000 after purchasing an additional 800 shares in the last quarter. Tocqueville Asset Management L.P. increased its stake in shares of Valeant Pharmaceuticals International by 3.8% during the second quarter. Tocqueville Asset Management L.P. now owns 21,914 shares of the specialty pharmaceutical company’s stock worth $379,000 after purchasing an additional 800 shares in the last quarter. Nationwide Fund Advisors increased its stake in shares of Valeant Pharmaceuticals International by 1.7% during the second quarter. Nationwide Fund Advisors now owns 52,400 shares of the specialty pharmaceutical company’s stock worth $907,000 after purchasing an additional 900 shares in the last quarter. Finally, GSA Capital Partners LLP increased its stake in shares of Valeant Pharmaceuticals International by 10.5% during the second quarter. GSA Capital Partners LLP now owns 21,651 shares of the specialty pharmaceutical company’s stock worth $375,000 after purchasing an additional 2,051 shares in the last quarter. 49.49% of the stock is owned by institutional investors and hedge funds.

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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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