Economy

Valeant beats profit estimate on Bausch and Lomb strength

Valeant beats profit estimate on Bausch and Lomb strength”

Cantor Fitzgerald set a $23.00 price objective on shares of Valeant Pharmaceuticals International and gave the company a buy rating in a research report on Friday, July 28th. The stock of Valeant Pharmaceuticals Intl Inc (NYSE:VRX) earned "Hold" rating by H.C. Wainwright on Monday, August 21.

As we've come to expect any time a publicly traded company beats earnings and revenue expectations, Valeant Pharmaceuticals is having an incredibly strong day in the market today. Finally, Jefferies Group LLC reiterated a buy rating and set a $18.00 target price on shares of Valeant Pharmaceuticals International in a report on Thursday, August 10th.

Among 5 analysts covering Advanced Accelerator (NASDAQ:AAAP), 2 have Buy rating, 0 Sell and 3 Hold. The company now has a consensus rating of Hold and an average target price of $17.22.

Valeant Pharmaceuticals International (NYSE VRX) opened at $11.49 on Friday. The company had a trading volume of 8,152,708 shares. Valeant Pharmaceuticals International has a 52-week low of $8.31 and a 52-week high of $20.10. The company has a current ratio of 1.34, a quick ratio of 1.10 and a debt-to-equity ratio of 6.86.

"Our strong third-quarter performance demonstrates our continued progress in the turnaround of Valeant".

Valeant Pharmaceuticals International Inc. reported a profit of $1.3 billion in its latest quarter, boosted by a one-time gain related to an internal tax reorganization. Valeant Pharmaceuticals International had a positive return on equity of 59.89% and a negative net margin of 12.40%. The firm had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.23 billion. During the same period previous year, the company earned ($0.88) EPS. That compared with a loss of $1.22 billion or $3.49 per diluted share a year ago. Morgan Stanley upgraded Valeant Pharmaceuticals Intl Inc (NYSE:VRX) on Wednesday, August 17 to "Overweight" rating. Stifel Nicolaus maintained the shares of VRX in report on Wednesday, March 16 with "Buy" rating. The correct version of this article can be viewed at https://www.truebluetribune.com/2017/11/05/valeant-pharmaceuticals-international-inc-vrx-expected-to-post-quarterly-sales-of-2-17-billion.html.

In related news, Director Schutter Richard U. De purchased 10,000 shares of the stock in a transaction dated Monday, August 21st. The shares were acquired at an average price of $14.33 per share, with a total value of $143,300.00. Legal & General Group Plc now owns 1,209,137 shares of the specialty pharmaceutical company's stock valued at $31,830,000 after buying an additional 33,247 shares during the period. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

The headquarters of Valeant Pharmaceuticals International Inc is seen in Laval, Quebec in this file picture taken November 9, 2015.

The reported quarter included a tax benefit of about $1.4 billion, the company said. Goldman Sachs Gp owns 0.02% invested in Valeant Pharmaceuticals Intl Inc (NYSE:VRX) for 4.60M shares. HC Wainwright now has a $17.00 price objective on the specialty pharmaceutical company's stock. Swiss National Bank increased its position in shares of Valeant Pharmaceuticals International by 1.9% in the third quarter. Bridgecreek Investment Management LLC now owns 308,125 shares of the specialty pharmaceutical company's stock valued at $4,415,000 after acquiring an additional 74,925 shares during the last quarter. Inc. raised its stake in shares of Valeant Pharmaceuticals International by 118.2% in the 3rd quarter. Financial Architects Inc now owns 10,550 shares of the specialty pharmaceutical company's stock worth $183,000 after buying an additional 1,000 shares during the period. Institutional investors and hedge funds own 49.74% of the company's stock.



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