Canada Pension Plan Investment Board Sells 2,063,194 Shares of Valeant Pharmaceuticals International, Inc. (VRX)

Canada Pension Plan Investment Board lowered its holdings in shares of Valeant Pharmaceuticals International, Inc. (NYSE:VRX) (TSE:VRX) by 98.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 41,306 shares of the specialty pharmaceutical company’s stock after selling 2,063,194 shares during the period. Canada Pension Plan Investment Board’s holdings in Valeant Pharmaceuticals International were worth $591,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Armstrong Henry H Associates Inc. boosted its stake in Valeant Pharmaceuticals International by 0.3% during the 2nd quarter. Armstrong Henry H Associates Inc. now owns 93,753 shares of the specialty pharmaceutical company’s stock worth $1,622,000 after purchasing an additional 295 shares during the period. Eaton Vance Management boosted its stake in Valeant Pharmaceuticals International by 1.2% during the 2nd 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 during the period. IFP Advisors Inc boosted its stake in Valeant Pharmaceuticals International by 0.4% during the 2nd quarter. IFP Advisors Inc now owns 128,305 shares of the specialty pharmaceutical company’s stock worth $2,220,000 after purchasing an additional 509 shares during the period. Tocqueville Asset Management L.P. boosted its stake in Valeant Pharmaceuticals International by 3.8% during the 2nd 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 during the period. Finally, Commonwealth Bank of Australia boosted its stake in Valeant Pharmaceuticals International by 0.7% during the 2nd 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 during the period. Hedge funds and other institutional investors own 48.49% of the company’s stock.

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A number of analysts recently weighed in on VRX shares. BMO Capital Markets reiterated a “hold” rating and set a $15.00 price target on shares of Valeant Pharmaceuticals International in a research note on Thursday, July 27th. Zacks Investment Research upgraded shares of Valeant Pharmaceuticals International from a “strong sell” rating to a “hold” rating in a research note on Thursday, July 27th. Cantor Fitzgerald set a $23.00 price target on shares of Valeant Pharmaceuticals International and gave the stock a “buy” rating in a research note on Friday, July 28th. Wells Fargo & Company dropped coverage on shares of Valeant Pharmaceuticals International in a research note on Sunday, July 30th. Finally, BidaskClub cut shares of Valeant Pharmaceuticals International from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Five research analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $17.17.

In other news, Director John Paulson purchased 344,216 shares of the stock in a transaction dated Thursday, November 16th. The stock was acquired at an average cost of $14.40 per share, for a total transaction of $4,956,710.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 5.87% of the company’s stock.

Valeant Pharmaceuticals International, Inc. (NYSE:VRX) opened at $15.57 on Tuesday. The firm has a market cap of $5,420.00, a PE ratio of 2.39, a price-to-earnings-growth ratio of 0.40 and a beta of -0.40. Valeant Pharmaceuticals International, Inc. has a twelve month low of $8.31 and a twelve month high of $18.65. The company has a current ratio of 1.26, a quick ratio of 1.03 and a debt-to-equity ratio of 4.84.

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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Institutional Ownership by Quarter for Valeant Pharmaceuticals International (NYSE:VRX)

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