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

Several hedge funds have recently added to or reduced their stakes in VRX. Morgan Stanley raised its stake in 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. Raymond James Financial Services Advisors Inc. raised its stake in 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 buying an additional 15,719 shares during the last quarter. Gabelli Funds LLC acquired a new stake in Valeant Pharmaceuticals International during the first quarter worth about $331,000. Bogle Investment Management L P DE acquired a new stake in Valeant Pharmaceuticals International during the first quarter worth about $11,223,000. Finally, Guggenheim Capital LLC raised its stake in Valeant Pharmaceuticals International by 18.6% in the fourth quarter. Guggenheim Capital LLC now owns 17,540 shares of the specialty pharmaceutical company’s stock worth $255,000 after buying an additional 2,752 shares during the last quarter. Institutional investors own 50.96% of the company’s stock.

VRX has been the topic of a number of analyst reports. Stifel Nicolaus restated a “buy” rating and issued a $35.00 price target (down from $45.00) on shares of Valeant Pharmaceuticals International in a research note on Wednesday, May 17th. Deutsche Bank AG decreased their price target on Valeant Pharmaceuticals International from $19.00 to $18.00 and set a “hold” rating on the stock in a research note on Wednesday, April 19th. Scotiabank lifted their price target on Valeant Pharmaceuticals International from $12.00 to $14.00 and gave the company a “sector perform” rating in a research note on Wednesday, May 10th. J P Morgan Chase & Co restated a “hold” rating on shares of Valeant Pharmaceuticals International in a research note 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 note on Monday, June 19th. Four investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Valeant Pharmaceuticals International has a consensus rating of “Hold” and a consensus price target of $17.31.

Valeant Pharmaceuticals International (NYSE:VRX) opened at 13.90 on Wednesday. The firm’s market capitalization is $4.84 billion. Valeant Pharmaceuticals International has a 1-year low of $8.31 and a 1-year high of $32.74. The company has a 50-day moving average price of $16.42 and a 200 day moving average price of $13.38.

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

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