Private Management Group Inc. Boosts Stake in Valeant Pharmaceuticals Intl Inc (VRX)

Private Management Group Inc. increased its position in Valeant Pharmaceuticals Intl Inc (NYSE:VRX) (TSE:VRX) by 28.4% during the first quarter, Holdings Channel reports. The firm owned 873,445 shares of the specialty pharmaceutical company’s stock after buying an additional 193,094 shares during the period. Private Management Group Inc. owned about 0.25% of Valeant Pharmaceuticals Intl worth $9,634,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the company. Tocqueville Asset Management L.P. raised its position in shares of Valeant Pharmaceuticals Intl by 9.9% in the third quarter. Tocqueville Asset Management L.P. now owns 56,614 shares of the specialty pharmaceutical company’s stock worth $1,390,000 after buying an additional 5,095 shares during the period. Jackson Park Capital LLC raised its position in shares of Valeant Pharmaceuticals Intl by 47.6% in the third quarter. Jackson Park Capital LLC now owns 31,000 shares of the specialty pharmaceutical company’s stock worth $761,000 after buying an additional 10,000 shares during the period. Phoenix Investment Adviser LLC raised its position in shares of Valeant Pharmaceuticals Intl by 14.4% in the third quarter. Phoenix Investment Adviser LLC now owns 93,900 shares of the specialty pharmaceutical company’s stock worth $2,305,000 after buying an additional 11,800 shares during the period. CIBC World Markets Inc. raised its position in shares of Valeant Pharmaceuticals Intl by 3.3% in the third quarter. CIBC World Markets Inc. now owns 3,819,702 shares of the specialty pharmaceutical company’s stock worth $93,774,000 after buying an additional 122,820 shares during the period. Finally, Gramercy Funds Management LLC bought a new position in shares of Valeant Pharmaceuticals Intl during the third quarter worth about $614,000. 64.34% of the stock is currently owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Valeant Pharmaceuticals Intl (NYSE:VRX)

Shares of Valeant Pharmaceuticals Intl Inc (NYSE:VRX) traded up 0.37% on Friday, reaching $13.52. 24,297,911 shares of the company traded hands. Valeant Pharmaceuticals Intl Inc has a one year low of $8.31 and a one year high of $32.74. The company’s market capitalization is $4.70 billion. The firm’s 50 day moving average is $10.55 and its 200 day moving average is $13.75.

Valeant Pharmaceuticals Intl (NYSE:VRX) last issued its quarterly earnings results on Tuesday, May 9th. The specialty pharmaceutical company reported $2.80 EPS for the quarter, topping the Zacks’ consensus estimate of $0.87 by $1.93. Valeant Pharmaceuticals Intl had a positive return on equity of 43.81% and a negative net margin of 22.17%. The company had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.17 billion. During the same quarter last year, the business earned ($1.08) earnings per share. Valeant Pharmaceuticals Intl’s revenue was down 11.1% on a year-over-year basis. Analysts expect that Valeant Pharmaceuticals Intl Inc will post $3.89 earnings per share for the current fiscal year.

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VRX has been the topic of a number of research reports. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Valeant Pharmaceuticals Intl in a research report on Saturday, January 21st. Deutsche Bank AG set a $20.00 target price on shares of Valeant Pharmaceuticals Intl and gave the stock a “hold” rating in a research report on Saturday, January 21st. Rodman & Renshaw lowered shares of Valeant Pharmaceuticals Intl from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 31st. Guggenheim reaffirmed a “buy” rating on shares of Valeant Pharmaceuticals Intl in a research report on Tuesday, February 7th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $45.00 target price on shares of Valeant Pharmaceuticals Intl in a research report on Thursday, February 9th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and six have issued a buy rating to the company. Valeant Pharmaceuticals Intl presently has a consensus rating of “Hold” and a consensus price target of $22.35.

In related news, Director Pershing Square Capital Manage sold 18,114,432 shares of the firm’s stock in a transaction dated Monday, March 13th. The stock was sold at an average price of $11.00, for a total value of $199,258,752.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Paul Herendeen acquired 24,000 shares of Valeant Pharmaceuticals Intl stock in a transaction that occurred on Tuesday, March 14th. The stock was acquired at an average cost of $10.72 per share, for a total transaction of $257,280.00. Following the completion of the purchase, the chief financial officer now directly owns 174,000 shares of the company’s stock, valued at $1,865,280. The disclosure for this purchase can be found here. Insiders purchased 3,054,000 shares of company stock worth $33,103,280 over the last ninety days. 16.37% of the stock is currently owned by insiders.

About Valeant Pharmaceuticals Intl

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).

5 Day Chart for NYSE:VRX

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