LMR Partners LLP Takes Position in Bausch Health Companies Inc. (NYSE:BHC)

LMR Partners LLP purchased a new position in shares of Bausch Health Companies Inc. (NYSE:BHC) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 400,000 shares of the company’s stock, valued at approximately $3,264,000. LMR Partners LLP owned approximately 0.11% of Bausch Health Companies as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in BHC. Headlands Technologies LLC acquired a new stake in shares of Bausch Health Companies in the 2nd quarter valued at approximately $35,000. MQS Management LLC bought a new position in shares of Bausch Health Companies in the second quarter valued at $71,000. Certuity LLC bought a new position in shares of Bausch Health Companies in the second quarter valued at $75,000. Bfsg LLC grew its stake in shares of Bausch Health Companies by 46.7% in the second quarter. Bfsg LLC now owns 11,450 shares of the company’s stock valued at $80,000 after buying an additional 3,643 shares in the last quarter. Finally, Kendall Capital Management bought a new position in Bausch Health Companies during the second quarter worth $87,000. Institutional investors and hedge funds own 78.65% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on BHC. Piper Sandler downgraded Bausch Health Companies from a “neutral” rating to an “underweight” rating and dropped their target price for the stock from $9.00 to $3.00 in a report on Friday, August 2nd. Scotiabank reduced their price target on Bausch Health Companies from $10.00 to $8.50 and set a “sector perform” rating on the stock in a report on Friday, August 2nd. Evercore ISI upgraded Bausch Health Companies to a “hold” rating in a report on Tuesday, October 15th. Truist Financial reduced their target price on Bausch Health Companies from $8.00 to $7.00 and set a “hold” rating on the stock in a report on Thursday, July 25th. Finally, StockNews.com raised Bausch Health Companies from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $7.75.

Insider Buying and Selling

In related news, EVP Seana Carson sold 13,370 shares of the firm’s stock in a transaction that occurred on 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 $2,702,579.58. This trade represents a 2.98 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 8.12% of the stock is owned by corporate insiders.

Bausch Health Companies Trading Down 1.2 %

Shares of NYSE BHC opened at $8.38 on Tuesday. The stock has a market cap of $3.08 billion, a price-to-earnings ratio of -17.46 and a beta of 0.74. Bausch Health Companies Inc. has a 1-year low of $3.96 and a 1-year high of $11.46. The stock’s 50-day moving average is $8.22 and its 200 day moving average is $7.09.

Bausch Health Companies (NYSE:BHC) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $1.12 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $2.42 billion. During the same period last year, the company earned $1.03 EPS. Bausch Health Companies’s revenue for the quarter was up 12.2% compared to the same quarter last year. On average, analysts forecast that Bausch Health Companies Inc. will post 3.73 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.