Franklin Resources Inc. Sells 6,138,171 Shares of Bausch Health Companies Inc. (NYSE:BHC)

Franklin Resources Inc. cut its holdings in shares of Bausch Health Companies Inc. (NYSE:BHC - Free Report) by 53.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,260,376 shares of the company's stock after selling 6,138,171 shares during the quarter. Franklin Resources Inc. owned 1.43% of Bausch Health Companies worth $43,337,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Mackenzie Financial Corp boosted its position in Bausch Health Companies by 111.0% during the second quarter. Mackenzie Financial Corp now owns 2,381,888 shares of the company's stock valued at $16,612,000 after buying an additional 1,252,834 shares during the period. LMR Partners LLP purchased a new stake in Bausch Health Companies during the 3rd quarter valued at about $3,264,000. Clearline Capital LP bought a new position in Bausch Health Companies during the 2nd quarter worth approximately $6,881,000. Intact Investment Management Inc. purchased a new position in Bausch Health Companies in the 3rd quarter worth approximately $1,543,000. Finally, XTX Topco Ltd bought a new stake in Bausch Health Companies in the third quarter valued at approximately $938,000. Hedge funds and other institutional investors own 78.65% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Royal Bank of Canada lifted their target price on shares of Bausch Health Companies from $10.00 to $11.00 and gave the stock a "sector perform" rating in a research note on Friday, November 1st. Evercore ISI upgraded shares of Bausch Health Companies to a "hold" rating in a research report on Tuesday, October 15th. Finally, StockNews.com upgraded shares of Bausch Health Companies from a "hold" rating to a "buy" rating in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $7.75.

Bausch Health Companies Trading Up 0.4 %

Shares of BHC opened at $7.68 on Wednesday. Bausch Health Companies Inc. has a 1-year low of $3.96 and a 1-year high of $11.46. The firm's 50-day moving average price is $8.37 and its 200-day moving average price is $7.26. The firm has a market capitalization of $2.78 billion, a price-to-earnings ratio of -16.00 and a beta of 0.69.

Bausch Health Companies (NYSE:BHC - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.10. The business had revenue of $2.51 billion for the quarter, compared to analysts' expectations of $2.42 billion. Bausch Health Companies had a negative return on equity of 755.86% and a negative net margin of 1.88%. The business's revenue was up 12.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.03 EPS. On average, research analysts forecast that Bausch Health Companies Inc. will post 3.74 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.