Shell Asset Management Co. purchased a new stake in Bausch Health Companies Inc (NYSE:BHC) during the 3rd quarter, Holdings Channel reports. The fund purchased 32,171 shares of the company’s stock, valued at approximately $826,000.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Tobam bought a new stake in shares of Bausch Health Companies in the 2nd quarter worth about $13,886,000. Point View Wealth Management Inc. bought a new stake in shares of Bausch Health Companies in the 2nd quarter worth about $1,132,000. Private Management Group Inc. bought a new stake in shares of Bausch Health Companies in the 2nd quarter worth about $28,474,000. Van ECK Associates Corp bought a new stake in shares of Bausch Health Companies in the 2nd quarter worth about $11,494,000. Finally, Marshall Wace LLP bought a new stake in shares of Bausch Health Companies in the 2nd quarter worth about $2,974,000. 50.09% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE BHC opened at $24.47 on Thursday. The stock has a market cap of $8.56 billion, a P/E ratio of 6.39, a P/E/G ratio of 0.32 and a beta of -0.28. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.91 and a current ratio of 1.14. Bausch Health Companies Inc has a 12-month low of $14.44 and a 12-month high of $28.45.
Bausch Health Companies (NYSE:BHC) last issued its quarterly earnings results on Tuesday, November 6th. The company reported $1.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.31. The business had revenue of $2.14 billion for 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 revenue for the quarter was down 3.7% on a year-over-year basis. On average, sell-side analysts forecast that Bausch Health Companies Inc will post 3.81 earnings per share for the current fiscal year.
In other Bausch Health Companies news, Director Schutter Richard U. De bought 125,000 shares of the business’s stock in a transaction on Thursday, September 13th. The shares were bought 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 available at the SEC website. Also, CFO Paul Herendeen bought 10,000 shares of the business’s stock in a transaction on Friday, September 14th. The shares were acquired at an average price of $22.61 per share, for a total transaction of $226,100.00. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 165,000 shares of company stock worth $3,890,700. 11.54% of the stock is owned by corporate insiders.
BHC has been the topic of several research reports. Deutsche Bank set a $30.00 price target on shares of Bausch Health Companies and gave the stock a “buy” rating in a research report on Wednesday, September 12th. Cantor Fitzgerald reiterated a “buy” rating and set a $32.00 price target on shares of Bausch Health Companies in a research report on Wednesday, September 12th. Zacks Investment Research upgraded shares of Bausch Health Companies from a “hold” rating to a “buy” rating and set a $31.00 price target on the stock in a research report on Wednesday, October 3rd. Mizuho reiterated a “buy” rating and set a $35.00 price target on shares of Bausch Health Companies in a research report on Monday, October 8th. Finally, HC Wainwright reiterated a “hold” rating and set a $25.00 price target on shares of Bausch Health Companies in a research report on Thursday, September 13th. Three analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $28.18.
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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.
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