Insider Selling: Valeant Pharmaceuticals Intl EVP Sells 10,000 Shares of Stock (VRX)
Valeant Pharmaceuticals Intl (NYSE:VRX) EVP Robert Roswell Chai-Onn sold 10,000 shares of the company’s stock on the open market in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $130.08, for a total value of $1,300,800.00. Following the transaction, the executive vice president now directly owns 23,999 shares in the company, valued at approximately $3,121,790. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Valeant Pharmaceuticals Intl (NYSE:VRX) traded down 2.06% on Wednesday, hitting $126.97. The stock had a trading volume of 2,966,968 shares. Valeant Pharmaceuticals Intl has a 52-week low of $73.25 and a 52-week high of $153.10. The stock has a 50-day moving average of $129.3 and a 200-day moving average of $125.8. The company’s market cap is $42.569 billion. Valeant Pharmaceuticals Intl also was the target of a large growth in short interest in April. As of April 30th, there was short interest totalling 10,358,313 shares, a growth of 166.3% from the April 15th total of 3,889,779 shares. Based on an average daily trading volume, of 4,674,623 shares, the short-interest ratio is presently 2.2 days. Currently, 3.2% of the company’s stock are sold short.
Valeant Pharmaceuticals Intl (NYSE:VRX) last posted its quarterly earnings results on Thursday, May 8th. The company reported $1.76 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.72 by $0.04. The company had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter last year, the company posted $1.30 earnings per share. Valeant Pharmaceuticals Intl’s revenue was up 76.6% compared to the same quarter last year. Analysts expect that Valeant Pharmaceuticals Intl will post $8.75 EPS for the current fiscal year.
A number of analysts have recently weighed in on VRX shares. Analysts at Jefferies Group reiterated a “buy” rating on shares of Valeant Pharmaceuticals Intl in a research note on Thursday, May 8th. They now have a $153.00 price target on the stock. Finally, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Valeant Pharmaceuticals Intl in a research note on Wednesday, April 23rd. They now have a $180.00 price target on the stock. One analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Valeant Pharmaceuticals Intl presently has an average rating of “Buy” and an average price target of $146.41.
Valeant Pharmaceuticals International, Inc, formerly Biovail Corporation, is a multinational, specialty pharmaceutical company that develops, manufactures and markets a range of pharmaceutical products.
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