Convector Capital Management Lp buys $3.2 Million stake in Valeant Pharmaceuticals Intl Inc (VRX)

Valeant Pharmaceuticals Intl Inc (VRX) : Convector Capital Management Lp scooped up 69,000 additional shares in Valeant Pharmaceuticals Intl Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 11, 2016. The investment management firm now holds a total of 125,000 shares of Valeant Pharmaceuticals Intl Inc which is valued at $3.2 Million.Valeant Pharmaceuticals Intl Inc makes up approximately 3.57% of Convector Capital Management Lp’s portfolio.

Other Hedge Funds, Including , Archford Capital Strategies sold out all of its stake in VRX during the most recent quarter. The investment firm sold 480 shares of VRX which is valued $12,432.First Eagle Investment Management reduced its stake in VRX by selling 144,800 shares or 8.83% in the most recent quarter. The Hedge Fund company now holds 1,495,332 shares of VRX which is valued at $44.7 Million. Valeant Pharmaceuticals Intl Inc makes up approx 0.11% of First Eagle Investment Management’s portfolio. Ausdal Financial Partners sold out all of its stake in VRX during the most recent quarter. The investment firm sold 1,350 shares of VRX which is valued $40,352. Quantitative Investment Management added VRX to its portfolio by purchasing 981,900 company shares during the most recent quarter which is valued at $29.3 Million. Valeant Pharmaceuticals Intl Inc makes up approx 1.39% of Quantitative Investment Management’s portfolio.

Valeant Pharmaceuticals Intl Inc opened for trading at $26.05 and hit $27.23 on the upside on Monday, eventually ending the session at $27.05, with a gain of 4.44% or 1.15 points. The heightened volatility saw the trading volume jump to 4,68,43,886 shares. Company has a market cap of $9,279 M.

On the company’s financial health, Valeant Pharmaceuticals Intl Inc reported $2.50 EPS for the quarter, missing the analyst consensus estimate by $ -0.12 based on the information available during the earnings call on Mar 15, 2016. Analyst had a consensus of $2.62. The company had revenue of $2788.70 million for the quarter, compared to analysts expectations of $2762.59 million. The company’s revenue was up 22.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.58 EPS.

Many Wall Street Analysts have commented on Valeant Pharmaceuticals Intl Inc. Shares were Reiterated by Rodman & Renshaw on May 3, 2016 to “Buy” and Lowered the Price Target to $ 102 from a previous price target of $105 .Shares were Reiterated by RBC Capital Mkts on Apr 12, 2016 to “Sector Perform” and Lowered the Price Target to $ 65 from a previous price target of $69 .Shares were Reiterated by Rodman & Renshaw on Apr 11, 2016 to “Buy” and Lowered the Price Target to $ 105 from a previous price target of $118 .

Valeant Pharmaceuticals International Inc. is a specialty pharmaceutical and medical device company. The Company is engaged in developing manufacturing 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) which are marketed directly or indirectly in over 100 countries. The Company operates through two segments: developed markets and emerging markets. The Company’s developed markets segment consists of sales in the United States of pharmaceutical products OTC products and medical device products. The Company’s Emerging Markets segment consists of branded generic pharmaceutical products and branded pharmaceuticals OTC products and medical device products.

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