Valeant Pharmaceuticals International, Inc. (NYSE:VRX)
- Author: Eleanor Harrison Mar 15, 2017,
Mar 15, 2017, 0:42
Ackman will remain on the board at Valeant until the company's next board election. Valeant has been under investigation by the USA attorney's office in NY since past year following news of the Philidor accounting practices became known.
Investors in Valeant Pharmaceuticals (NYSE:VRX) continue to follow hedge fund honcho Bill Ackman to the exits. Five investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have issued a buy rating to the company. Thomson Reuters' First Call, which many consider to be the benchmark for EPS and consensus data, now have the price target listed as $19.8100. Also, Director Thomas W. Sr. The Insider Ownership of the company now is 2.3 percent, and Institutional Ownership is 66.8 percent.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock.
Valeant cuts ties with mail-order pharmacy company Philidor, after a report from Citron Research accused the company of "fraud."
Paulson & Company, led by John Paulson, ValueAct Holdings, and Okumus Fund Management are betting big on Valeant, according to the filings. Compagnie Lombard Odier SCmA raised its stake in shares of Valeant Pharmaceuticals Intl by 1,404.9% in the second quarter. The current share price indicate that stock is -31.65% away from its one year high and is moving 59.49% ahead of its 52-week low. CIBC Asset Management Inc boosted its position in Valeant Pharmaceuticals Intl by 57.9% in the third quarter. The difference between the expected and actual EPS was $0.05/share, which represents an Earnings surprise of 4.1%. The investor acquired 513,500 more Valeant shares during the fourth quarter of 2016.
Analysts from BMO think the sale by Bill Ackman is bad news for Valeant Pharmaceuticals shareholders.
Shares fall 6.4 per to $29.09 as CEO J. Michael Pearson is subpoenaed by a congressional committee, investigating the soaring prices for prescription medicines. The company has a 50-day moving average price of $14.37 and a 200-day moving average price of $19.09. At least $3.1 billion, plus funds plowed into M&A and putative relaunches, not to mention time and opportunity and reputational costs. (NYSE:VRX) reported its EPS in the last quarter as $1.26/Share beating the analyst estimate of $1.21/Share by the difference of $0.05. The business earned $2.40 billion during the quarter, compared to the consensus estimate of $2.34 billion. The return on equity was -31.20%. The firm's quarterly revenue was down 12.9% compared to the same quarter past year.
18 analysts projected Price Targets for Valeant Pharmaceuticals International, Inc.