- 24/7 Wall St.•14 hours ago
The health care sector was in trouble over the past year, under fire from congressional hearings and politicians on the campaign trail. However things look like they could be different in 2017.
A New York state judge has dismissed a lawsuit accusing the Sequoia Fund, known for its ties to Warren Buffett, of recklessly making a huge, disastrous investment in Valeant Pharmaceuticals International Inc (VRX.TO), causing billions of dollars of losses. Justice O. Peter Sherwood of the State Supreme Court in White Plains, New York, said Sequoia shareholders failed to show it would have been futile, prior to suing in January 2016, to demand that the mutual fund's directors step in to unwind the investment because of their alleged conflicts of interest.
- Barrons.com•2 days ago
Wells Fargo's and his team reiterated an Underperform rating and $10 to $13 valuation range on Valeant Pharmaceuticals (VRX) Friday, writing that the company's 2017 might not be much better than its 2016. Maris lowered his fourth-quarter earnings, but writes that the results are less important than the company's longer-term deteriorating cash flow generation, high debt, and poor business trends. "We believe Valeant shares are overvalued at current levels and believe that despite Valeant wanting to talk about 'new Valeant,' its business trends and pricing-driven model remain 'old Valeant.'" He write that while the new management team has sold $2.3 billion in assets, it's also lowered guidance and missed launch targets, while prescription declines continue--hardly bullish.
VRX : Summary for Valeant Pharmaceuticals Interna - Yahoo Finance
Valeant Pharmaceuticals International, Inc. (VRX)
NYSE - NYSE Delayed Price. Currency in USD
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|Bid||16.20 x 200|
|Ask||16.25 x 2000|
|Day's Range||16.10 - 16.53|
|52 Week Range||13.00 - 76.95|
Trade prices are not sourced from all markets
|PE Ratio (TTM)||-2.46|
|Dividend & Yield||0.00 (0.00%)|
|1y Target Est||N/A|