Valeant Pharmaceuticals International, Inc. (NYSE:VRX) (TSE:VRX) – Jefferies Group cut their FY2017 earnings estimates for shares of Valeant Pharmaceuticals International in a research note issued on Wednesday. Jefferies Group analyst D. Steinberg now expects that the specialty pharmaceutical company will post earnings of $3.45 per share for the year, down from their previous forecast of $3.76. Jefferies Group currently has a “Buy” rating and a $18.00 target price on the stock.

Valeant Pharmaceuticals International (NYSE:VRX) (TSE:VRX) last issued its quarterly earnings data on Tuesday, August 8th. The specialty pharmaceutical company reported $1.05 earnings per share for the quarter, topping the 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 60.62%. The company had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.23 billion. During the same quarter in the previous year, the firm posted ($0.88) earnings per share. Valeant Pharmaceuticals International’s revenue for the quarter was down 7.7% on a year-over-year basis.

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A number of other equities analysts have also recently commented on VRX. Stifel Nicolaus reiterated a “buy” rating and issued a $45.00 target price on shares of Valeant Pharmaceuticals International in a research report on Wednesday, May 10th. Vetr cut shares of Valeant Pharmaceuticals International from a “strong-buy” rating to a “buy” rating and set a $14.94 target price on the stock. in a research report on Monday, May 15th. Guggenheim began coverage on shares of Valeant Pharmaceuticals International in a research report on Saturday, June 17th. They issued a “buy” rating and a $18.00 target price on the stock. BidaskClub upgraded shares of Valeant Pharmaceuticals International from a “hold” rating to a “buy” rating in a research report on Thursday, June 29th. Finally, Cantor Fitzgerald set a $23.00 target price on shares of Valeant Pharmaceuticals International and gave the stock a “buy” rating in a research report on Friday, July 28th. Four investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $17.26.

Shares of Valeant Pharmaceuticals International (NYSE VRX) opened at 14.07 on Thursday. Valeant Pharmaceuticals International has a 52 week low of $8.31 and a 52 week high of $32.74. The company has a 50 day moving average of $16.61 and a 200 day moving average of $13.38. The company’s market cap is $4.90 billion.

Several large investors have recently made changes to their positions in the stock. ValueAct Holdings L.P. raised its stake in shares of Valeant Pharmaceuticals International by 20.0% in the first quarter. ValueAct Holdings L.P. now owns 17,997,224 shares of the specialty pharmaceutical company’s stock worth $198,509,000 after buying an additional 3,002,963 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Valeant Pharmaceuticals International by 9.8% in the first quarter. Vanguard Group Inc. now owns 6,980,074 shares of the specialty pharmaceutical company’s stock worth $76,990,000 after buying an additional 621,618 shares during the last quarter. Bank of Montreal Can raised its stake in shares of Valeant Pharmaceuticals International by 9.8% in the second quarter. Bank of Montreal Can now owns 6,330,670 shares of the specialty pharmaceutical company’s stock worth $109,521,000 after buying an additional 564,215 shares during the last quarter. OppenheimerFunds Inc. raised its stake in shares of Valeant Pharmaceuticals International by 17.1% in the first quarter. OppenheimerFunds Inc. now owns 4,489,169 shares of the specialty pharmaceutical company’s stock worth $49,516,000 after buying an additional 656,116 shares during the last quarter. Finally, Morgan Stanley raised its stake in shares of Valeant Pharmaceuticals International by 48.2% in the first 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. 51.14% of the stock is currently owned by hedge funds and other institutional investors.

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 and Estimates for Valeant Pharmaceuticals International (NYSE:VRX)

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