Daiwa Securities Group Inc. Acquires New Position in Bausch Health Companies Inc (BHC)

Daiwa Securities Group Inc. acquired a new stake in Bausch Health Companies Inc (NYSE:BHC) in the 3rd quarter, HoldingsChannel reports. The fund acquired 103,756 shares of the company’s stock, valued at approximately $2,663,000.

Other institutional investors have also recently added to or reduced their stakes in the company. NEXT Financial Group Inc acquired a new position in shares of Bausch Health Companies in the third quarter valued at approximately $101,000. Steward Partners Investment Advisory LLC acquired a new position in shares of Bausch Health Companies in the third quarter valued at approximately $106,000. Polaris Greystone Financial Group LLC acquired a new position in shares of Bausch Health Companies in the third quarter valued at approximately $107,000. Quadrant Capital Group LLC acquired a new position in shares of Bausch Health Companies in the third quarter valued at approximately $118,000. Finally, Bedel Financial Consulting Inc. acquired a new position in shares of Bausch Health Companies in the third quarter valued at approximately $129,000. 42.90% of the stock is owned by institutional investors.

BHC has been the subject of several recent research reports. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $32.00 price objective on shares of Bausch Health Companies in a research note on Tuesday, August 7th. Mizuho reaffirmed a “buy” rating and issued a $31.00 price objective on shares of Bausch Health Companies in a research note on Tuesday, August 7th. Deutsche Bank set a $30.00 price objective on Bausch Health Companies and gave the company a “buy” rating in a research note on Wednesday, September 12th. Zacks Investment Research raised Bausch Health Companies from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a research note on Wednesday, October 3rd. Finally, HC Wainwright reaffirmed a “hold” rating and issued a $25.00 price objective on shares of Bausch Health Companies in a research note on Thursday, September 13th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $27.55.

In other Bausch Health Companies news, Director Schutter Richard U. De purchased 125,000 shares of the business’s stock in a transaction on Thursday, September 13th. The shares were purchased at an average cost of $23.96 per share, for a total transaction of $2,995,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Christina Ackermann sold 19,946 shares of the stock in a transaction that occurred on Tuesday, October 16th. The stock was sold at an average price of $24.98, for a total value of $498,251.08. The disclosure for this sale can be found here. Insiders have acquired a total of 165,000 shares of company stock valued at $3,890,700 in the last three months. Insiders own 11.54% of the company’s stock.

NYSE:BHC opened at $27.20 on Friday. The company has a market cap of $9.48 billion, a price-to-earnings ratio of 6.87, a PEG ratio of 0.37 and a beta of -0.28. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.14 and a quick ratio of 0.89. Bausch Health Companies Inc has a fifty-two week low of $13.86 and a fifty-two week high of $28.45.

Bausch Health Companies (NYSE:BHC) last released its earnings results on Tuesday, November 6th. The company reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.31. The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.09 billion. Bausch Health Companies had a negative net margin of 40.41% and a positive return on equity of 32.19%. The business’s quarterly revenue was down 3.7% compared to the same quarter last year. On average, sell-side analysts expect that Bausch Health Companies Inc will post 3.7 EPS for the current year.

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About Bausch Health Companies

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: Are Wall Street analysts’ stock ratings worth following?

Want to see what other hedge funds are holding BHC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bausch Health Companies Inc (NYSE:BHC).

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

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