Pitney Bowes Inc. (PBI) and Theravance Inc (THRX)’s Stakes Further Rise In Iridian’s Portfolio

Iridian’s top position with respect to market value was Valeant Pharmaceuticals Intl Inc (NYSE:VRX), according to the latest 13F filing. The firm increased its stake by 6% during the quarter and had 3.90 million shares valued at $558.46 million to its name. Among the 737 hedge funds that we track at Insider Monkey, 102 funds held around $14.08 billion worth of the pharmaceutical company’s stock, an increase from 90 funds holding $13.29 billion worth of stock a quarter earlier. Two of these funds include Barry Rosenstein‘s JANA Partners, which increased its stake by 236% to 4.31 million shares valued at $616.45 million and Jeffrey Ubben’s ValueAct Capital, which bumped its stake by 3% to 19.39 million shares worth $2.77 billion.

Just last month, Valeant Pharmaceuticals Intl Inc (NYSE:VRX) announced its plans to acquire Salix Pharmaceuticals, Ltd. (NASDAQ:SLXP) for $10.1 billion, or $158 per share in cash. The news came in a few weeks after Valeant had agreed to pay $400 million for Dandreon, a bankrupt cancer vaccine maker popular for its prostate cancer vaccine. Up nearly 41.9% year-to-date, Valeant Pharmaceuticals Intl Inc (NYSE:VRX) reported fourth quarter EPS of $2.58 which was significantly higher than the consensus estimate of $1.29. Revenues of $2.28 billion increased by 10.7% year-over-year.

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