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Valeant to change name to 'Bausch Health Companies'
10 May 2018, 06:41 | Gerardo Harmon
Make a hit with these Stocks: Valeant Pharmaceuticals International, Inc. (NYSE:VRX), Fossil Group, Inc. (NASDAQ:FOSL), Fluor Corporation (NYSE:FLR), Brookfield Property Partners L.P. (NASDAQ:BPY)
The results exceeded Wall Street expectations. For the period, it generated $2 billion in sales, a 5% decrease from the same period previous year. The firm is expected to report its next earnings report before the market opens on Tuesday, May 8th.
Valeant Pharmaceuticals International (NYSE:VRX) (TSE:VRX) has been given a $25.00 price target by equities researchers at Cantor Fitzgerald in a research report issued to clients and investors on Tuesday.
The consensus analyst estimate for Q1 of 2018 was $0.60 earnings per share.
Valeant Pharmaceuticals International, Inc. has a Return on Assets of 6.00%.
The name change reflects the company's optical products business, Bausch and Lomb, which brought in sales of $1.10 billion in the first quarter and accounted for more than half of the company's total revenue. Last year Valeant sold off equity interests in Dendreon Pharmaceuticals, Inc., the manufacturer of prostate cancer drug Provenge, to China's Sanpower Group Co., Ltd. for about $820 million. Moreover, the analyst anticipates that better appreciation for the company's growth opportunities as well as impressive execution point to other earnings raises on the horizon along with multiple expansion in 2019 and down the line. On Friday, December 15 Mizuho maintained Valeant Pharmaceuticals International, Inc.
Valeant Pharmaceuticals International, Inc. had 0 insider sales and 3 insider purchases since March 8, 2018. HC Wainwright reiterated a "hold" rating and issued a $16.00 target price on shares of Valeant Pharmaceuticals International in a research note on Thursday, March 15th.
Among 4 analysts covering Valeant Pharmaceuticals International (TSE:VRX), 0 have Buy rating, 0 Sell and 4 Hold. The firm now has a "sell" rating on the specialty pharmaceutical company's stock. $15.89's average target is -19.63% below currents $19.77 stock price.
In other Valeant Pharmaceuticals International news, CEO Joseph C. Papa purchased 30,000 shares of the stock in a transaction dated Tuesday, March 13th. Market worth or Market capitalization is calculated by multiplying the price of a stock by its total number of outstanding shares. The company made posted earnings of $1.79 a share, or $628 million in the same period past year. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The stock closing price is now trading upward to its 50 day moving average with change of 9.61%, escalated to its 20 day moving average with figure of 4.78% and above its 200 day moving average with value 9.79%. Insiders have purchased a total of 7,121,629 shares of company stock valued at $109,702,487 in the last 90 days.
Several hedge funds have recently made changes to their positions in the business. Iron Financial LLC now owns 16,394 shares of the specialty pharmaceutical company's stock worth $341,000 after acquiring an additional 4,500 shares during the period. Keybank National Association OH acquired a new position in Valeant Pharmaceuticals International during the 4th quarter valued at approximately $208,000. The stock witnessed 17.62% gains, 5.09% gains and 64.2% gains for the 1-month, 3-month and 6-month period, respectively. Institutional investors own 49.91% of the company's stock. (NYSE:VRX) has 15% bullish analysts. The company has a quick ratio of 0.87, a current ratio of 1.11 and a debt-to-equity ratio of 4.25.
Investors also seem to have been excited by news that the pharmaceutical giant had raised its revenue guidance for 2018 during the release of the earnings report. Valeant Pharmaceuticals International Inc has a 12 month low of $10.57 and a 12 month high of $24.43. "We believe Bausch Health Companies more accurately represents the full scope of the Company today - a leader in the development and manufacture of a wide range of pharmaceutical, medical device and over-the-counter products, primarily in the therapeutic areas of eye health, gastroenterology and dermatology".
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