Valeant Pharmaceuticals International Inc. is up more than 50 per cent in 2011. The winning streak took a hit in August when shares plunged after second-quarter earnings. However, insiders bought heavily. In particular, CEO J. Michael Pearson purchased 155,642 shares. While the stock has regained ground over the past few weeks, we continue to see insider buying. On Nov. 17, which was two weeks after third quarter earnings were released, executive vice-president Brian Stolz bought 2,400 shares. The company trades in both New York and Toronto. Generally, it is encouraging to see insider buying after news.
Ted Dixon is CEO of INK Research which provides insider news and knowledge to investors. For more background on insider reporting in Canada, visit the FAQ section at www.inkresearch.com. Securities referenced in this profile may have already appeared in recent reports distributed to INK subscribers. INK staff may also hold a position in profiled securities.