LMR Partners LLP Purchases New Shares in Bausch Health Companies Inc. (NYSE:BHC)

LMR Partners LLP purchased a new stake in shares of Bausch Health Companies Inc. (NYSE:BHC) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 400,000 shares of the company’s stock, valued at approximately $3,264,000.

Several other hedge funds also recently made changes to their positions in BHC. Headlands Technologies LLC purchased a new position in Bausch Health Companies during the second quarter valued at $35,000. MQS Management LLC purchased a new position in Bausch Health Companies during the second quarter valued at $71,000. Certuity LLC purchased a new position in Bausch Health Companies during the second quarter valued at $75,000. Bfsg LLC raised 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 valued at $80,000 after buying an additional 3,643 shares during the last quarter. Finally, Kendall Capital Management purchased a new position in Bausch Health Companies during the second quarter valued at $87,000. 78.65% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Bausch Health Companies

In other Bausch Health Companies 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 transaction 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 approximately $2,702,579.58. The trade was a 2.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 8.12% of the stock is currently owned by corporate insiders.

Bausch Health Companies Stock Performance

Bausch Health Companies stock opened at $8.38 on Tuesday. The stock has a market cap of $3.08 billion, a PE ratio of -17.46 and a beta of 0.74. Bausch Health Companies Inc. has a one year low of $3.96 and a one year high of $11.46. The stock has a fifty day moving average of $8.22 and a 200 day moving average of $7.09.

Bausch Health Companies (NYSE:BHC) last released its quarterly earnings results 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 analyst estimates of $2.42 billion. During the same quarter in the previous year, the company posted $1.03 earnings per share. Bausch Health Companies’s revenue for the quarter was up 12.2% on a year-over-year basis. As a group, sell-side analysts predict that Bausch Health Companies Inc. will post 3.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BHC. Scotiabank lowered their price objective on Bausch Health Companies from $10.00 to $8.50 and set a “sector perform” rating for the company in a research note on Friday, August 2nd. Jefferies Financial Group decreased 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. Evercore ISI upgraded Bausch Health Companies to a “hold” rating in a research note on Tuesday, October 15th. Piper Sandler cut Bausch Health Companies from a “neutral” rating to an “underweight” rating and decreased their price target for the stock from $9.00 to $3.00 in a research note on Friday, August 2nd. Finally, StockNews.com upgraded Bausch Health Companies from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $7.75.

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.