Bank of Montreal Can Has $31.60 Million Stock Position in Bausch Health Companies Inc. (NYSE:BHC)

Bank of Montreal Can grew its position in Bausch Health Companies Inc. (NYSE:BHC) by 234.0% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 3,833,179 shares of the company’s stock after purchasing an additional 2,685,675 shares during the period. Bank of Montreal Can’s holdings in Bausch Health Companies were worth $31,598,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in BHC. Vanguard Group Inc. increased its stake in shares of Bausch Health Companies by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 11,713,993 shares of the company’s stock valued at $124,285,000 after buying an additional 114,862 shares during the period. CANADA LIFE ASSURANCE Co increased its stake in shares of Bausch Health Companies by 4.1% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 88,457 shares of the company’s stock valued at $933,000 after buying an additional 3,519 shares during the period. Thompson Investment Management Inc. increased its stake in shares of Bausch Health Companies by 12.7% in the 2nd quarter. Thompson Investment Management Inc. now owns 237,586 shares of the company’s stock valued at $1,656,000 after buying an additional 26,692 shares during the period. Bfsg LLC increased its stake in shares of Bausch Health Companies by 46.7% in the 2nd quarter. Bfsg LLC now owns 11,450 shares of the company’s stock valued at $80,000 after buying an additional 3,643 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased 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 buying an additional 3,923 shares during the period. 78.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on BHC shares. Piper Sandler cut Bausch Health Companies from a “neutral” rating to an “underweight” rating and lowered their target price for the company from $9.00 to $3.00 in a research note on Friday, August 2nd. Evercore ISI raised Bausch Health Companies to a “hold” rating in a research note on Tuesday, October 15th. Royal Bank of Canada lifted their price objective 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. Jefferies Financial Group decreased their price objective 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. Finally, StockNews.com raised Bausch Health Companies from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. One investment 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 MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $7.75.

Insider Buying and Selling at Bausch Health Companies

In other news, EVP Seana Carson sold 13,370 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $6.21, for a total value of $83,027.70. Following the sale, the executive vice president now directly owns 435,198 shares in the company, valued at $2,702,579.58. The trade was a 2.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 8.12% of the company’s stock.

Bausch Health Companies Trading Up 2.9 %

NYSE:BHC opened at $8.12 on Friday. Bausch Health Companies Inc. has a 1 year low of $3.96 and a 1 year high of $11.46. The stock has a market cap of $2.99 billion, a price-to-earnings ratio of -16.92 and a beta of 0.74. The stock has a 50-day moving average price of $8.41 and a two-hundred day moving average price of $7.13.

Bausch Health Companies (NYSE:BHC) last posted its earnings results on Wednesday, October 30th. The company reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.42 billion. During the same period in the previous year, the firm earned $1.03 earnings per share. The company’s revenue was up 12.2% on a year-over-year basis. Sell-side analysts forecast that Bausch Health Companies Inc. will post 3.74 earnings per share for the current year.

Bausch Health Companies 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.