Valeant Pharmaceuticals Intl Inc (VRX) was Downgraded by JP Morgan to ” Neutral”. Earlier the firm had a rating of “Overweight ” on the company shares. JP Morgan advised their investors in a research report released on Jun 23, 2016.
Many Wall Street Analysts have commented on Valeant Pharmaceuticals Intl Inc. Shares were Reiterated by RBC Capital Mkts on Jun 8, 2016 to “Sector Perform” and Lowered the Price Target to $ 33 from a previous price target of $58 .Shares were Reiterated by Stifel on Jun 8, 2016 to “Buy” and Lowered the Price Target to $ 55 from a previous price target of $65 .Shares were Reiterated by Mizuho on Jun 8, 2016 to “Underperform” and Lowered the Price Target to $ 11 from a previous price target of $18 .
On the company’s financial health, Valeant Pharmaceuticals Intl Inc reported $1.27 EPS for the quarter, missing the analyst consensus estimate by $ -0.10 based on the information available during the earnings call on Jun 7, 2016. Analyst had a consensus of $1.37. The company had revenue of $2371.60 million for the quarter, compared to analysts expectations of $2337.60 million. The company’s revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.05 EPS.
Valeant Pharmaceuticals Intl Inc closed down -0.88 points or -3.91% at $21.64 with 2,83,30,550 shares getting traded on Tuesday. Post opening the session at $22.45, the shares hit an intraday low of $21.41 and an intraday high of $22.91 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.
In a different news, on Jun 13, 2016, Joseph C Papa (CEO) purchased 202,000 shares at $24.48 per share price. According to the SEC, on Nov 9, 2015, J. Michael Pearson (Chief Executive Officer) sold 1,297,399 shares at $78.53 per share price. On Oct 22, 2015, Ronald Harold Farmer (director) purchased 1,500 shares at $175.90 per share price, according to the Form-4 filing with the securities and exchange commission.
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.