Franklin Resources Inc. Increases Stock Position in Bausch Health Companies Inc. (NYSE:BHC)

Franklin Resources Inc. increased its holdings in shares of Bausch Health Companies Inc. (NYSE:BHC - Free Report) by 1.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,316,822 shares of the company's stock after purchasing an additional 56,446 shares during the period. Franklin Resources Inc. owned approximately 1.47% of Bausch Health Companies worth $42,855,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. grew its position in Bausch Health Companies by 3.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,269,478 shares of the company's stock valued at $10,373,000 after purchasing an additional 42,539 shares during the period. Cerity Partners LLC raised its position in Bausch Health Companies by 14.4% in the 3rd quarter. Cerity Partners LLC now owns 79,290 shares of the company's stock valued at $647,000 after buying an additional 9,978 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Bausch Health Companies by 26.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 76,807 shares of the company's stock valued at $628,000 after acquiring an additional 16,101 shares in the last quarter. Verition Fund Management LLC purchased a new position in Bausch Health Companies during the 3rd quarter worth $808,000. Finally, Centiva Capital LP bought a new stake in shares of Bausch Health Companies in the 3rd quarter worth $951,000. Institutional investors own 78.65% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on BHC shares. Jefferies Financial Group restated a "hold" rating and set a $8.00 price target (down from $12.00) on shares of Bausch Health Companies in a report on Thursday, February 6th. Royal Bank of Canada reduced their target price on Bausch Health Companies from $9.00 to $8.50 and set a "sector perform" rating for the company in a report on Monday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Bausch Health Companies currently has an average rating of "Hold" and an average target price of $7.17.

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Bausch Health Companies Stock Performance

NYSE BHC traded down $0.54 on Thursday, hitting $4.49. 984,747 shares of the stock traded hands, compared to its average volume of 2,732,468. Bausch Health Companies Inc. has a 12 month low of $3.96 and a 12 month high of $9.87. The firm has a market capitalization of $1.65 billion, a price-to-earnings ratio of -37.54, a PEG ratio of 0.37 and a beta of 0.43. The business's fifty day moving average is $6.65 and its two-hundred day moving average is $7.59.

Bausch Health Companies (NYSE:BHC - Get Free Report) last issued its earnings results on Wednesday, February 19th. The company reported $1.21 EPS for the quarter, missing analysts' consensus estimates of $1.65 by ($0.44). The business had revenue of $2.56 billion during the quarter, compared to analysts' expectations of $2.51 billion. Bausch Health Companies had a negative return on equity of 577.82% and a negative net margin of 0.48%. Analysts expect that Bausch Health Companies Inc. will post 4.41 EPS for the current fiscal year.

About Bausch Health Companies

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.