Verition Fund Management LLC Takes $808,000 Position in Bausch Health Companies Inc. (NYSE:BHC)

Verition Fund Management LLC acquired a new position 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 institutional investor acquired 99,028 shares of the company's stock, valued at approximately $808,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. CIBC Asset Management Inc grew its holdings in shares of Bausch Health Companies by 0.3% during the 3rd quarter. CIBC Asset Management Inc now owns 374,729 shares of the company's stock worth $3,060,000 after purchasing an additional 1,082 shares during the period. Bfsg LLC boosted its stake in Bausch Health Companies by 46.7% during the second quarter. Bfsg LLC now owns 11,450 shares of the company's stock worth $80,000 after buying an additional 3,643 shares during the period. Northwest & Ethical Investments L.P. increased its position in shares of Bausch Health Companies by 13.0% during the third quarter. Northwest & Ethical Investments L.P. now owns 32,384 shares of the company's stock valued at $264,000 after acquiring an additional 3,734 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Bausch Health Companies by 6.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 60,706 shares of the company's stock valued at $423,000 after acquiring an additional 3,923 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Bausch Health Companies by 2.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 246,808 shares of the company's stock worth $1,719,000 after acquiring an additional 4,944 shares during the last quarter. Institutional investors and hedge funds own 78.65% of the company's stock.

Analyst Ratings Changes

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

Bausch Health Companies Trading Down 1.6 %

NYSE:BHC traded down $0.14 during midday trading on Tuesday, reaching $8.33. The company had a trading volume of 1,103,852 shares, compared to its average volume of 2,788,457. The stock's fifty day simple moving average is $8.41 and its 200-day simple moving average is $7.22. Bausch Health Companies Inc. has a 12-month low of $3.96 and a 12-month high of $11.46. The firm has a market capitalization of $3.01 billion, a price-to-earnings ratio of -17.34 and a beta of 0.69.

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