Redwood Capital Management Exits Position in Concordia Healthcare Corp (CXRX)

Concordia Healthcare Corp (CXRX) : Redwood Capital Management has sold out all of its stake in Concordia Healthcare Corp during the most recent quarter, according to the disclosure filed by the company on Aug 15, 2016 with the SEC. The investment management company has sold out 30,000 shares of Concordia Healthcare Corp which is valued at $303,900.

Other Hedge Funds, Including , Norges Bank added CXRX to its portfolio by purchasing 372,001 company shares during the most recent quarter which is valued at $3,768,370.Nebula Capital Management Lp reduced its stake in CXRX by selling 153,860 shares or 78.1% in the most recent quarter. The Hedge Fund company now holds 43,140 shares of CXRX which is valued at $638,041. Concordia Healthcare Corp makes up approx 4.92% of Nebula Capital Management Lp’s portfolio.Agf Investments boosted its stake in CXRX in the latest quarter, The investment management firm added 552 additional shares and now holds a total of 1,008 shares of Concordia Healthcare Corp which is valued at $14,908. Clarivest Asset Management added CXRX to its portfolio by purchasing 277 company shares during the most recent quarter which is valued at $4,834.

On the company’s financial health, Concordia Healthcare Corp reported $1.38 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Aug 12, 2016. Analyst had a consensus of $1.40. The company had revenue of $231.70 million for the quarter, compared to analysts expectations of $232.57 million. The company’s revenue was up 208.1% compared to the same quarter last year.

Many Wall Street Analysts have commented on Concordia Healthcare Corp. Concordia Healthcare Corp was Downgraded by CIBC to ” Sector Underperform” on Aug 15, 2016. Concordia Healthcare Corp was Downgraded by TD Securities to ” Hold” on Aug 4, 2016. Concordia Healthcare Corp was Initiated by Goldman to “Neutral” on Jun 6, 2016.

Concordia Healthcare Corp. is a Canada-based diverse healthcare company. The Company is focused on legacy pharmaceutical products and orphan drugs. The Company operates through three segments which includes Legacy Pharmaceutical Division Concordia Pharmaceuticals Inc. which consists of 23 products including Nilandron for the treatment of metastatic prostate cancer; Dibenzyline for the treatment of pheochromocytoma; Lanoxin for the treatment of mild-to-moderate heart failure and atrial fibrillation; Plaquenil for the treatment of lupus and rheumatoid arthritis; Donnatal for the treatment of irritable bowel syndrome and Zonegran (zonisamide) for treatment of partial seizures in adults with epilepsy. Its Specialty Healthcare Distribution (SHD) Division Complete Medical Homecare is engaged in the distribution of medical supplies focused on diabetes and related conditions. Its Orphan Drugs Division Concordia Laboratories Inc. is engaged in the manufacture of PHOTOFRIN.

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