Oppenheimer & Co. Inc. increased its position in shares of Valeant Pharmaceuticals International Inc. (NYSE:VRX) by 102.4% during the second quarter, Holdings Channel reports. The institutional investor owned 19,651 shares of the specialty pharmaceutical company’s stock after buying an additional 9,944 shares during the period. Oppenheimer & Co. Inc.’s holdings in Valeant Pharmaceuticals International were worth $396,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of VRX. Okumus Fund Management Ltd. increased its stake in Valeant Pharmaceuticals International by 98.5% in the first quarter. Okumus Fund Management Ltd. now owns 3,722,464 shares of the specialty pharmaceutical company’s stock valued at $97,901,000 after buying an additional 1,846,864 shares during the last quarter. Hexavest Inc. increased its stake in Valeant Pharmaceuticals International by 1,177.8% in the second quarter. Hexavest Inc. now owns 1,792,788 shares of the specialty pharmaceutical company’s stock valued at $36,073,000 after buying an additional 1,652,490 shares during the last quarter. York Capital Management Global Advisors LLC purchased a new stake in Valeant Pharmaceuticals International during the first quarter valued at $25,944,000. Chou Associates Management Inc. purchased a new stake in Valeant Pharmaceuticals International during the first quarter valued at $25,725,000. Finally, Jackson Square Partners LLC increased its stake in Valeant Pharmaceuticals International by 15.0% in the first quarter. Jackson Square Partners LLC now owns 7,437,220 shares of the specialty pharmaceutical company’s stock valued at $205,390,000 after buying an additional 968,782 shares during the last quarter. 63.60% of the stock is owned by hedge funds and other institutional investors.

Valeant Pharmaceuticals International Inc. (NYSE:VRX) traded down 0.66% on Monday, reaching $27.10. The company had a trading volume of 12,319,038 shares. The company’s market capitalization is $9.42 billion. The company’s 50-day moving average is $27.01 and its 200-day moving average is $30.50. Valeant Pharmaceuticals International Inc. has a 52-week low of $18.55 and a 52-week high of $245.82.

Valeant Pharmaceuticals International (NYSE:VRX) last announced its earnings results on Tuesday, August 9th. The specialty pharmaceutical company reported $1.40 earnings per share for the quarter, missing the consensus estimate of $1.48 by $0.08. Valeant Pharmaceuticals International had a negative net margin of 9.29% and a positive return on equity of 46.59%. The company earned $2.42 billion during the quarter, compared to analysts’ expectations of $2.47 billion. During the same quarter last year, the business posted $2.14 earnings per share. The company’s revenue for the quarter was down 11.4% compared to the same quarter last year. Equities analysts anticipate that Valeant Pharmaceuticals International Inc. will post $6.54 EPS for the current fiscal year.

Several research firms recently weighed in on VRX. Morgan Stanley restated an “overweight” rating and issued a $42.00 price objective on shares of Valeant Pharmaceuticals International in a report on Friday, August 26th. RBC Capital Markets restated a “sector perform” rating and issued a $36.00 price objective on shares of Valeant Pharmaceuticals International in a report on Monday, August 29th. Mizuho restated an “underperform” rating and issued a $11.00 price objective on shares of Valeant Pharmaceuticals International in a report on Thursday, August 18th. Royal Bank Of Canada restated a “sector perform” rating and issued a $33.00 price objective (down from $58.00) on shares of Valeant Pharmaceuticals International in a report on Friday, June 3rd. Finally, Canaccord Genuity restated a “hold” rating and issued a $40.00 price objective on shares of Valeant Pharmaceuticals International in a report on Friday, June 3rd. Six investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $60.32.

In related news, Director Argeris N. Karabelas bought 4,000 shares of the stock in a transaction on Thursday, August 11th. The shares were bought at an average cost of $24.65 per share, for a total transaction of $98,600.00. Following the purchase, the director now owns 20,726 shares of the company’s stock, valued at approximately $510,895.90. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 16.37% of the stock is owned by company insiders.

Valeant Pharmaceuticals International Company Profile

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).

5 Day Chart for NYSE:VRX

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