Readystate Asset Management LP Grows Position in Bausch Health Companies Inc. (NYSE:BHC)

Readystate Asset Management LP increased its holdings in shares of Bausch Health Companies Inc. (NYSE:BHC - Free Report) by 38.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 470,761 shares of the company's stock after purchasing an additional 130,000 shares during the quarter. Readystate Asset Management LP owned approximately 0.13% of Bausch Health Companies worth $3,841,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Goldentree Asset Management LP lifted its stake in Bausch Health Companies by 31.0% in the third quarter. Goldentree Asset Management LP now owns 29,395,745 shares of the company's stock valued at $239,552,000 after buying an additional 6,958,717 shares during the last quarter. Bank of Montreal Can lifted its stake in Bausch Health Companies by 234.0% in the third quarter. Bank of Montreal Can now owns 3,833,179 shares of the company's stock valued at $31,598,000 after buying an additional 2,685,675 shares during the last quarter. Maple Rock Capital Partners Inc. purchased a new stake in shares of Bausch Health Companies during the third quarter worth approximately $16,850,000. Mackenzie Financial Corp raised its stake in shares of Bausch Health Companies by 111.0% during the second quarter. Mackenzie Financial Corp now owns 2,381,888 shares of the company's stock worth $16,612,000 after purchasing an additional 1,252,834 shares during the last quarter. Finally, Clearline Capital LP purchased a new stake in shares of Bausch Health Companies during the second quarter worth approximately $6,881,000. Hedge funds and other institutional investors own 78.65% of the company's stock.

Insider Activity at Bausch Health Companies

In related news, EVP Seana Carson sold 13,370 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $6.21, for a total transaction of $83,027.70. Following the transaction, the executive vice president now directly owns 435,198 shares in the company, valued at approximately $2,702,579.58. This represents a 2.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 8.12% of the company's stock.

Analysts Set New Price Targets

BHC has been the subject of several analyst reports. Royal Bank of Canada upped their price target on 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. StockNews.com upgraded Bausch Health Companies from a "hold" rating to a "buy" rating in a research note on Friday, October 25th. Evercore ISI upgraded Bausch Health Companies to a "hold" rating in a research note on Tuesday, October 15th. Finally, Jefferies Financial Group cut their price target on Bausch Health Companies from $13.00 to $9.00 and set a "buy" rating for the company in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Bausch Health Companies presently has a consensus rating of "Hold" and a consensus target price of $7.75.

Bausch Health Companies Stock Up 0.2 %

Bausch Health Companies stock traded up $0.02 during trading hours on Thursday, hitting $8.15. The stock had a trading volume of 237,200 shares, compared to its average volume of 2,807,949. Bausch Health Companies Inc. has a 1-year low of $3.96 and a 1-year high of $11.46. The stock's fifty day moving average is $8.41 and its two-hundred day moving average is $7.16.

Bausch Health Companies (NYSE:BHC - Get Free Report) last posted its earnings results 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 company had revenue of $2.51 billion for 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%. Bausch Health Companies's revenue was up 12.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.03 earnings per share. Analysts predict that Bausch Health Companies Inc. will post 3.74 EPS for the current fiscal year.

Bausch Health Companies Company Profile

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.