Valeant Pharmaceuticals International, Inc. (NYSE:VRX) Announces Earnings Results

Valeant Pharmaceuticals International, Inc. (NYSE:VRX) (TSE:VRX) released its earnings results on Tuesday, August 8th. The specialty pharmaceutical company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.08, Morningstar.com reports. The business had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.23 billion. Valeant Pharmaceuticals International had a positive return on equity of 59.89% and a negative net margin of 12.40%. The business’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same quarter last year, the business posted ($0.88) earnings per share.

Shares of Valeant Pharmaceuticals International (NYSE VRX) traded up 0.35% during midday trading on Friday, hitting $14.39. The stock had a trading volume of 10,472,002 shares. Valeant Pharmaceuticals International has a 12-month low of $8.31 and a 12-month high of $32.74. The stock has a 50-day moving average price of $16.18 and a 200-day moving average price of $13.40. The stock’s market cap is $5.02 billion.

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Several equities analysts have recently weighed in on VRX shares. Wells Fargo & Company restated an “underperform” rating on shares of Valeant Pharmaceuticals International in a research report on Monday, June 12th. J P Morgan Chase & Co restated a “hold” rating on shares of Valeant Pharmaceuticals International in a research report on Tuesday, May 9th. Zacks Investment Research downgraded Valeant Pharmaceuticals International from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 13th. Stifel Nicolaus restated a “buy” rating and issued a $35.00 target price on shares of Valeant Pharmaceuticals International in a research report on Thursday, August 10th. Finally, BidaskClub upgraded Valeant Pharmaceuticals International from a “sell” rating to a “hold” rating in a research report on Friday, June 23rd. Four analysts have rated the stock with a sell rating, fourteen have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $17.31.

Hedge funds have recently made changes to their positions in the stock. Gruss & Co. Inc. bought a new stake in shares of Valeant Pharmaceuticals International during the first quarter valued at about $104,000. Financial Architects Inc increased its stake in shares of 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 valued at $105,000 after buying an additional 1,500 shares in the last quarter. Harbor Advisors LLC bought a new stake in shares of Valeant Pharmaceuticals International during the first quarter valued at about $110,000. WMS Partners LLC bought a new stake in shares of Valeant Pharmaceuticals International during the first quarter valued at about $116,000. Finally, Brave Asset Management Inc. bought a new stake in shares of Valeant Pharmaceuticals International during the first quarter valued at about $119,000. Hedge funds and other institutional investors own 50.96% 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 for Valeant Pharmaceuticals International (NYSE:VRX)

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