Legal & General Group Plc Sells 50,161 Shares of Bausch Health Companies Inc. (NYSE:BHC)

Legal & General Group Plc lowered its stake in shares of Bausch Health Companies Inc. (NYSE:BHC - Free Report) by 12.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 339,821 shares of the company's stock after selling 50,161 shares during the quarter. Legal & General Group Plc owned about 0.09% of Bausch Health Companies worth $2,746,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Mountain Hill Investment Partners Corp. acquired a new stake in shares of Bausch Health Companies during the 4th quarter worth $56,000. Tobam grew its stake in Bausch Health Companies by 10.4% during the fourth quarter. Tobam now owns 15,034 shares of the company's stock worth $121,000 after buying an additional 1,422 shares in the last quarter. Norges Bank bought a new position in Bausch Health Companies in the 4th quarter valued at about $141,000. DGS Capital Management LLC acquired a new position in shares of Bausch Health Companies in the 4th quarter valued at approximately $143,000. Finally, Kendall Capital Management lifted its holdings in shares of Bausch Health Companies by 43.4% during the 4th quarter. Kendall Capital Management now owns 17,995 shares of the company's stock worth $145,000 after acquiring an additional 5,445 shares during the period. Institutional investors own 78.65% of the company's stock.

Wall Street Analyst Weigh In

BHC has been the subject of several research analyst reports. Royal Bank of Canada lowered their price objective on shares of Bausch Health Companies from $9.00 to $8.50 and set a "sector perform" rating for the company in a research report on Monday, April 7th. StockNews.com cut Bausch Health Companies from a "buy" rating to a "hold" rating in a report on Wednesday. Finally, Jefferies Financial Group restated a "hold" rating and set a $8.00 price objective (down from $12.00) on shares of Bausch Health Companies in a research report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $7.17.

Bausch Health Companies Stock Down 1.1 %

Shares of BHC stock traded down $0.06 during mid-day trading on Friday, reaching $5.42. 1,345,757 shares of the stock traded hands, compared to its average volume of 2,707,883. Bausch Health Companies Inc. has a 1-year low of $3.96 and a 1-year high of $9.85. The stock's fifty day simple moving average is $6.23 and its two-hundred day simple moving average is $7.31. The company has a market cap of $1.99 billion, a price-to-earnings ratio of -45.16, a price-to-earnings-growth ratio of 0.37 and a beta of 0.43.

Bausch Health Companies (NYSE:BHC - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The company reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.44). Bausch Health Companies had a negative return on equity of 577.82% and a negative net margin of 0.48%. The firm had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.51 billion. On average, equities research analysts anticipate 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.