Valeant Pharmaceuticals International, Inc. to Post FY2017 Earnings of $3.45 Per Share, Jefferies Group Forecasts (NYSE:VRX)

Valeant Pharmaceuticals International, Inc. (NYSE:VRX) (TSE:VRX) – Investment analysts at Jefferies Group lowered their FY2017 EPS estimates for Valeant Pharmaceuticals International in a research note issued on Wednesday. Jefferies Group analyst D. Steinberg now expects that the specialty pharmaceutical company will post earnings of $3.45 per share for the year, down from their previous forecast of $3.76. Jefferies Group currently has a “Buy” rating and a $18.00 target price on the stock.

Valeant Pharmaceuticals International (NYSE:VRX) (TSE:VRX) last posted its quarterly earnings data on Tuesday, August 8th. The specialty pharmaceutical company reported $1.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.97 by $0.08. The firm had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.23 billion. Valeant Pharmaceuticals International had a negative net margin of 12.40% and a positive return on equity of 60.62%. The company’s revenue for the quarter was down 7.7% on a year-over-year basis. During the same quarter last year, the business posted ($0.88) EPS.

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Several other research analysts have also recently weighed in on VRX. Wells Fargo & Company reissued an “underperform” rating and set a $9.00 price objective on shares of Valeant Pharmaceuticals International in a report on Thursday. Stifel Nicolaus reissued a “buy” rating and set a $35.00 price objective on shares of Valeant Pharmaceuticals International in a report on Thursday. Piper Jaffray Companies set a $14.00 price objective on shares of Valeant Pharmaceuticals International and gave the company a “sell” rating in a report on Wednesday. HC Wainwright set a $17.00 price objective on shares of Valeant Pharmaceuticals International and gave the company a “hold” rating in a report on Wednesday. Finally, Canaccord Genuity set a $14.00 price objective on shares of Valeant Pharmaceuticals International and gave the company a “hold” rating in a report on Thursday. Four research analysts have rated the stock with a sell rating, fourteen have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $17.26.

Shares of Valeant Pharmaceuticals International (NYSE:VRX) opened at 14.07 on Thursday. The firm has a 50-day moving average of $16.61 and a 200 day moving average of $13.38. The stock’s market cap is $4.90 billion. Valeant Pharmaceuticals International has a 1-year low of $8.31 and a 1-year high of $32.74.

Several institutional investors have recently modified their holdings of VRX. Gruss & Co. Inc. bought a new position in shares of Valeant Pharmaceuticals International during the first quarter worth $104,000. Financial Architects Inc increased its stake 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 during the last quarter. Harbor Advisors LLC acquired a new stake in Valeant Pharmaceuticals International during the first quarter worth about $110,000. WMS Partners LLC acquired a new stake in Valeant Pharmaceuticals International during the first quarter worth about $116,000. Finally, Brave Asset Management Inc. acquired a new stake in Valeant Pharmaceuticals International during the first quarter worth about $119,000. Hedge funds and other institutional investors own 51.14% 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).

Earnings History and Estimates for Valeant Pharmaceuticals International (NYSE:VRX)

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