Greenleaf Trust Acquires New Position in Bausch Health Companies Inc (BHC)

Greenleaf Trust acquired a new stake in shares of Bausch Health Companies Inc (NYSE:BHC) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 17,205 shares of the company’s stock, valued at approximately $442,000.

A number of other hedge funds have also recently bought and sold shares of BHC. Bank of Montreal Can purchased a new stake in shares of Bausch Health Companies in the third quarter worth approximately $94,432,000. Private Management Group Inc. purchased a new stake in shares of Bausch Health Companies in the second quarter worth approximately $28,474,000. Tobam purchased a new stake in shares of Bausch Health Companies in the second quarter worth approximately $13,886,000. Van ECK Associates Corp purchased a new stake in shares of Bausch Health Companies in the second quarter worth approximately $11,494,000. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of Bausch Health Companies in the third quarter worth approximately $10,483,000. 43.28% of the stock is owned by institutional investors.

A number of research firms have recently issued reports on BHC. Piper Jaffray Companies raised shares of Bausch Health Companies from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $16.00 to $19.00 in a research report on Thursday, September 13th. Royal Bank of Canada set a $30.00 price target on shares of Bausch Health Companies and gave the stock a “hold” rating in a research report on Monday, October 8th. JPMorgan Chase & Co. increased their price target on shares of Bausch Health Companies to $18.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 8th. ValuEngine raised shares of Bausch Health Companies from a “sell” rating to a “hold” rating in a research report on Monday, September 24th. Finally, HC Wainwright set a $25.00 price objective on Bausch Health Companies and gave the stock a “hold” rating in a report on Monday, October 8th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $26.89.

Shares of BHC stock opened at $24.78 on Friday. Bausch Health Companies Inc has a 12 month low of $10.94 and a 12 month high of $28.45. The company has a debt-to-equity ratio of 6.99, a quick ratio of 0.89 and a current ratio of 1.14. The company has a market cap of $7.76 billion, a price-to-earnings ratio of 6.47, a P/E/G ratio of 0.32 and a beta of -0.48.

Bausch Health Companies (NYSE:BHC) last announced its quarterly earnings results on Tuesday, August 7th. The company reported $0.93 EPS for the quarter, beating the consensus estimate of $0.81 by $0.12. Bausch Health Companies had a positive return on equity of 27.83% and a negative net margin of 20.60%. The company had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.05 billion. On average, sell-side analysts anticipate that Bausch Health Companies Inc will post 3.46 earnings per share for the current fiscal year.

In related news, Director Schutter Richard U. De acquired 125,000 shares of the stock in a transaction dated Thursday, September 13th. The shares were acquired at an average price of $23.96 per share, for a total transaction of $2,995,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Joseph C. Papa acquired 30,000 shares of the stock in a transaction dated Friday, September 14th. The stock was bought at an average price of $22.32 per share, for a total transaction of $669,600.00. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 165,000 shares of company stock worth $3,890,700. Corporate insiders own 11.54% of the company’s stock.

Bausch Health Companies Company Profile

Bausch Health Companies Inc develops, manufactures, and markets a range of pharmaceutical, medical device, and over-the-counter products primarily in the therapeutic areas of eye health, gastroenterology, and dermatology. It offers dermatology products that treat a range of conditions, including actinic keratosis, acne, atopic dermatitis, psoriasis, cold sores, athlete's foot, nail fungus, and other dermatoses, as well as provides aesthetic medical devices, which address various conditions, including facial wrinkles, acne, pigmentation conditions, body sculpting, skin tightening, and laser hair removal.

Further Reading: Why do companies issue stock splits?

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Institutional Ownership by Quarter for Bausch Health Companies (NYSE:BHC)

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