Goldentree Asset Management LP grew its stake in Bausch Health Companies Inc. (NYSE:BHC - Free Report) by 31.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,395,745 shares of the company's stock after acquiring an additional 6,958,717 shares during the period. Bausch Health Companies accounts for about 19.1% of Goldentree Asset Management LP's investment portfolio, making the stock its biggest position. Goldentree Asset Management LP owned approximately 7.99% of Bausch Health Companies worth $239,552,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently modified their holdings of BHC. Headlands Technologies LLC bought a new position in Bausch Health Companies in the 2nd quarter worth approximately $35,000. MQS Management LLC bought a new stake in shares of Bausch Health Companies during the second quarter worth $71,000. Certuity LLC acquired a new position in shares of Bausch Health Companies during the second quarter valued at $75,000. Bfsg LLC lifted its stake in shares of Bausch Health Companies by 46.7% during the second quarter. Bfsg LLC now owns 11,450 shares of the company's stock valued at $80,000 after acquiring an additional 3,643 shares during the period. Finally, Kendall Capital Management bought a new position in Bausch Health Companies in the second quarter valued at about $87,000. 78.65% of the stock is currently owned by institutional investors and hedge funds.
Bausch Health Companies Trading Up 3.1 %
Shares of NYSE:BHC traded up $0.25 during trading on Friday, hitting $8.37. 595,963 shares of the company's stock traded hands, compared to its average volume of 2,837,486. The company has a 50-day moving average price of $8.41 and a 200-day moving average price of $7.14. Bausch Health Companies Inc. has a 52 week low of $3.96 and a 52 week high of $11.46. The company has a market cap of $3.01 billion, a price-to-earnings ratio of -17.44 and a beta of 0.74.
Bausch Health Companies (NYSE:BHC - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $1.12 earnings per share for the quarter, beating analysts' consensus estimates of $1.02 by $0.10. Bausch Health Companies had a negative net margin of 1.88% and a negative return on equity of 755.86%. The firm had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.42 billion. During the same quarter in the previous year, the firm posted $1.03 earnings per share. The business's revenue was up 12.2% on a year-over-year basis. On average, analysts predict that Bausch Health Companies Inc. will post 3.74 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Bausch Health Companies news, EVP Seana Carson sold 13,370 shares of the company's stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $6.21, for a total transaction of $83,027.70. Following the completion of the transaction, the executive vice president now owns 435,198 shares of the company's stock, valued at $2,702,579.58. This represents a 2.98 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 8.12% of the company's stock.
Analyst Ratings Changes
Several brokerages have weighed in on BHC. Evercore ISI raised Bausch Health Companies to a "hold" rating in a report on Tuesday, October 15th. Jefferies Financial Group cut their price objective on shares of Bausch Health Companies from $13.00 to $9.00 and set a "buy" rating on the stock in a report on Wednesday, August 7th. StockNews.com raised shares of Bausch Health Companies from a "hold" rating to a "buy" rating in a research note on Friday, October 25th. Royal Bank of Canada upped their target price on shares of Bausch Health Companies from $10.00 to $11.00 and gave the company a "sector perform" rating in a research report on Friday, November 1st. Finally, Scotiabank reduced their price target on Bausch Health Companies from $10.00 to $8.50 and set a "sector perform" rating on the stock in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $7.75.
Check Out Our Latest Stock Report on BHC
Bausch Health Companies Company Profile
(
Free Report)
Bausch Health Companies Inc operates as a diversified specialty pharmaceutical and medical device company in the United States and internationally. It develops, manufactures, and markets a range of products primarily in gastroenterology, hepatology, neurology, dermatology, international pharmaceuticals, over-the-counter (OTC) products, aesthetic medical devices, and eye health.
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