Maple Rock Capital Partners Inc. Makes New Investment in Bausch Health Companies Inc. (NYSE:BHC)

Maple Rock Capital Partners Inc. purchased a new stake in Bausch Health Companies Inc. (NYSE:BHC - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 2,064,900 shares of the company's stock, valued at approximately $16,850,000. Bausch Health Companies makes up 0.5% of Maple Rock Capital Partners Inc.'s investment portfolio, making the stock its 24th biggest holding. Maple Rock Capital Partners Inc. owned about 0.56% of Bausch Health Companies at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in BHC. Headlands Technologies LLC bought a new position in Bausch Health Companies during the 2nd quarter valued at approximately $35,000. MQS Management LLC bought a new position in Bausch Health Companies during the 2nd quarter valued at approximately $71,000. Certuity LLC bought a new position in Bausch Health Companies during the 2nd quarter valued at approximately $75,000. Bfsg LLC raised its position in Bausch Health Companies by 46.7% during the 2nd quarter. Bfsg LLC now owns 11,450 shares of the company's stock valued at $80,000 after purchasing an additional 3,643 shares during the last quarter. Finally, Kendall Capital Management bought a new position in Bausch Health Companies during the 2nd quarter valued at approximately $87,000. 78.65% of the stock is currently owned by hedge funds and other institutional investors.

Bausch Health Companies Stock Up 0.5 %

BHC stock traded up $0.04 during trading on Wednesday, reaching $8.13. The company's stock had a trading volume of 756,219 shares, compared to its average volume of 2,818,941. Bausch Health Companies Inc. has a 1 year low of $3.96 and a 1 year high of $11.46. The company has a market capitalization of $2.93 billion, a P/E ratio of -16.94 and a beta of 0.69. The company's fifty day moving average is $8.41 and its 200-day moving average is $7.16.

Bausch Health Companies (NYSE:BHC - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $2.51 billion during the quarter, compared to analyst estimates 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 quarterly revenue was up 12.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.03 earnings per share. Analysts anticipate that Bausch Health Companies Inc. will post 3.74 earnings per share for the current year.

Wall Street Analysts Forecast Growth

BHC has been the subject of a number of recent analyst reports. Royal Bank of Canada upped their price target on 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. Jefferies Financial Group reduced their target price on Bausch Health Companies from $13.00 to $9.00 and set a "buy" rating on the stock in a report on Wednesday, August 7th. Evercore ISI upgraded Bausch Health Companies to a "hold" rating in a report on Tuesday, October 15th. Finally, StockNews.com upgraded 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 given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Bausch Health Companies currently has an average rating of "Hold" and a consensus target price of $7.75.

Insider Buying and Selling

In other Bausch Health Companies news, EVP Seana Carson sold 13,370 shares of the firm's stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $6.21, for a total value of $83,027.70. Following the completion of the sale, the executive vice president now owns 435,198 shares of the company's stock, valued at $2,702,579.58. This trade represents a 2.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 8.12% of the stock is currently owned by company insiders.

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.