Valeant Pharmaceuticals International, Inc. (NYSE:VRX) (TSE:VRX) saw a significant drop in short interest in July. As of July 31st, there was short interest totalling 28,922,355 shares, a drop of 9.5% from the July 14th total of 31,966,471 shares. Currently, 8.5% of the company’s stock are short sold. Based on an average daily trading volume, of 12,043,680 shares, the short-interest ratio is presently 2.4 days.

Valeant Pharmaceuticals International (NYSE:VRX) opened at 13.90 on Wednesday. Valeant Pharmaceuticals International has a 52 week low of $8.31 and a 52 week high of $32.74. The company’s market cap is $4.84 billion. The firm’s 50-day moving average is $16.42 and its 200-day moving average is $13.38.

Valeant Pharmaceuticals International (NYSE:VRX) (TSE:VRX) last announced its earnings results on Tuesday, August 8th. The specialty pharmaceutical company reported $1.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.08. Valeant Pharmaceuticals International had a negative net margin of 12.40% and a positive return on equity of 59.89%. The firm had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.23 billion. During the same quarter in the prior year, the business posted ($0.88) EPS. The business’s revenue was down 7.7% compared to the same quarter last year. On average, analysts expect that Valeant Pharmaceuticals International will post $3.89 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in VRX. Cambridge Advisors Inc. raised its position in shares of Valeant Pharmaceuticals International by 0.6% in the first quarter. Cambridge Advisors Inc. now owns 12,650 shares of the specialty pharmaceutical company’s stock worth $140,000 after buying an additional 75 shares during the last quarter. Armstrong Henry H Associates Inc. raised its stake in Valeant Pharmaceuticals International by 0.3% in the second quarter. Armstrong Henry H Associates Inc. now owns 93,753 shares of the specialty pharmaceutical company’s stock valued at $1,622,000 after buying an additional 295 shares in the last quarter. World Asset Management Inc raised its stake in Valeant Pharmaceuticals International by 1.5% in the first quarter. World Asset Management Inc now owns 21,502 shares of the specialty pharmaceutical company’s stock valued at $237,000 after buying an additional 328 shares in the last quarter. Eaton Vance Management raised its stake in Valeant Pharmaceuticals International by 1.2% in the second quarter. Eaton Vance Management now owns 43,469 shares of the specialty pharmaceutical company’s stock valued at $752,000 after buying an additional 500 shares in the last quarter. Finally, IFP Advisors Inc raised its stake in Valeant Pharmaceuticals International by 0.4% in the second quarter. IFP Advisors Inc now owns 128,305 shares of the specialty pharmaceutical company’s stock valued at $2,220,000 after buying an additional 509 shares in the last quarter. Hedge funds and other institutional investors own 50.96% of the company’s stock.

Several equities research analysts have recently issued reports on the company. Stifel Nicolaus reaffirmed a “buy” rating and issued a $35.00 price target (down from $45.00) on shares of Valeant Pharmaceuticals International in a research report on Wednesday, May 17th. Deutsche Bank AG lowered their price target on Valeant Pharmaceuticals International from $19.00 to $18.00 and set a “hold” rating on the stock in a research report on Wednesday, April 19th. Scotiabank raised their price target on Valeant Pharmaceuticals International from $12.00 to $14.00 and gave the company a “sector perform” rating in a research report on Wednesday, May 10th. J P Morgan Chase & Co reaffirmed a “hold” rating on shares of Valeant Pharmaceuticals International in a research report on Tuesday, May 9th. Finally, Royal Bank Of Canada set a $19.00 price target on Valeant Pharmaceuticals International and gave the company a “sector perform” rating in a research report on Monday, June 19th. Four investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $17.31.

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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).

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