Bank of Nova Scotia lowered its holdings in shares of Valeant Pharmaceuticals International, Inc. (NYSE:VRX) (TSE:VRX) by 6.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,175,064 shares of the specialty pharmaceutical company’s stock after selling 85,954 shares during the quarter. Bank of Nova Scotia owned 0.34% of Valeant Pharmaceuticals International worth $20,401,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Harbor Advisors LLC purchased a new position in Valeant Pharmaceuticals International during the 1st quarter valued at $110,000. NEXT Financial Group Inc lifted its holdings in shares of Valeant Pharmaceuticals International by 6.2% in the 2nd quarter. NEXT Financial Group Inc now owns 10,303 shares of the specialty pharmaceutical company’s stock worth $178,000 after buying an additional 600 shares during the period. Financial Architects Inc lifted its holdings in shares of Valeant Pharmaceuticals International by 10.5% in the 2nd quarter. Financial Architects Inc now owns 10,550 shares of the specialty pharmaceutical company’s stock worth $183,000 after buying an additional 1,000 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of Valeant Pharmaceuticals International by 33.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 10,965 shares of the specialty pharmaceutical company’s stock worth $121,000 after buying an additional 2,763 shares during the period. Finally, IPG Investment Advisors LLC purchased a new stake in shares of Valeant Pharmaceuticals International in the 2nd quarter worth $203,000. Institutional investors own 50.48% of the company’s stock.
Valeant Pharmaceuticals International (NYSE:VRX) (TSE:VRX) last released its earnings results on Tuesday, August 8th. The specialty pharmaceutical company reported $1.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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 company had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.23 billion. During the same quarter in the previous year, the firm posted ($0.88) EPS. The firm’s quarterly revenue was down 7.7% on a year-over-year basis.
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In other news, Director Schutter Richard U. De purchased 10,000 shares of the firm’s stock in a transaction dated Monday, August 21st. The shares were acquired at an average price of $14.33 per share, with a total value of $143,300.00. Following the purchase, the director now directly owns 77,479 shares of the company’s stock, valued at $1,110,274.07. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 5.87% of the stock is owned by insiders.
Several equities research analysts have weighed in on the company. BMO Capital Markets reiterated a “hold” rating and issued a $15.00 target price on shares of Valeant Pharmaceuticals International in a report on Thursday, July 27th. Zacks Investment Research upgraded Valeant Pharmaceuticals International from a “strong sell” rating to a “hold” rating in a report on Thursday, July 27th. J P Morgan Chase & Co set a $10.00 target price on Valeant Pharmaceuticals International and gave the stock a “hold” rating in a report on Monday, July 17th. Deutsche Bank AG set a $19.00 target price on Valeant Pharmaceuticals International and gave the stock a “hold” rating in a report on Monday, July 17th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $35.00 target price on shares of Valeant Pharmaceuticals International in a report on Friday, June 30th. Six investment analysts have rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $17.68.
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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