Bank of New York Mellon Corp trimmed its position in shares of Valeant Pharmaceuticals International, Inc. (NYSE:VRX) (TSE:VRX) by 14.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 348,751 shares of the specialty pharmaceutical company’s stock after selling 58,670 shares during the quarter. Bank of New York Mellon Corp owned 0.10% of Valeant Pharmaceuticals International worth $6,032,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Morgan Stanley boosted its stake in shares of Valeant Pharmaceuticals International by 48.2% in the 1st quarter. Morgan Stanley now owns 2,777,063 shares of the specialty pharmaceutical company’s stock worth $30,631,000 after buying an additional 903,256 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Valeant Pharmaceuticals International by 61.2% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 41,414 shares of the specialty pharmaceutical company’s stock worth $457,000 after acquiring an additional 15,719 shares during the period. Bogle Investment Management L P DE bought a new stake in shares of Valeant Pharmaceuticals International in the first quarter worth $11,223,000. Paloma Partners Management Co grew its holdings in shares of Valeant Pharmaceuticals International by 12.0% in the first quarter. Paloma Partners Management Co now owns 27,996 shares of the specialty pharmaceutical company’s stock worth $310,000 after acquiring an additional 2,996 shares during the period. Finally, Cambridge Investment Research Advisors Inc. purchased a new stake in Valeant Pharmaceuticals International during the first quarter valued at $513,000. 50.48% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms have weighed in on VRX. Canaccord Genuity set a $14.00 target price on Valeant Pharmaceuticals International and gave the company a “hold” rating in a report on Thursday, June 8th. BMO Capital Markets reissued a “market perform” rating and issued a $15.00 target price on shares of Valeant Pharmaceuticals International in a research report on Friday, June 9th. Wells Fargo & Company restated an “underperform” rating on shares of Valeant Pharmaceuticals International in a research note on Monday, June 12th. Royal Bank Of Canada restated a “market perform” rating and set a $19.00 price target on shares of Valeant Pharmaceuticals International in a research note on Tuesday, June 13th. Finally, Cantor Fitzgerald initiated coverage on shares of Valeant Pharmaceuticals International in a research report on Friday, June 16th. They set an “overweight” rating and a $18.00 price target for the company. Five analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the stock. Valeant Pharmaceuticals International has a consensus rating of “Hold” and an average price target of $17.57.

In other news, Director Schutter Richard U. De purchased 10,000 shares of the stock in a transaction dated Monday, August 21st. The shares were purchased at an average cost of $14.33 per share, with a total value of $143,300.00. Following the completion of the purchase, the director now directly owns 77,479 shares of the company’s stock, valued at approximately $1,110,274.07. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 5.87% of the company’s stock.

Valeant Pharmaceuticals International, Inc. (VRX) opened at 14.62 on Tuesday. Valeant Pharmaceuticals International, Inc. has a 52-week low of $8.31 and a 52-week high of $24.89. The company’s market capitalization is $5.10 billion. The stock’s 50 day moving average price is $13.97 and its 200-day moving average price is $13.35.

Valeant Pharmaceuticals International (NYSE:VRX) (TSE:VRX) last announced its earnings results on Tuesday, August 8th. The specialty pharmaceutical company reported $1.05 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.23 billion. During the same quarter in the prior year, the firm earned ($0.88) earnings per share. The business’s revenue was down 7.7% compared to the same quarter last year. Analysts predict that Valeant Pharmaceuticals International, Inc. will post $3.89 earnings per share for the current fiscal year.

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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).

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

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