Cinctive Capital Management LP Has $683,000 Position in Bausch Health Companies Inc. (NYSE:BHC)

Cinctive Capital Management LP raised its holdings in shares of Bausch Health Companies Inc. (NYSE:BHC) by 25.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 83,710 shares of the company’s stock after buying an additional 17,233 shares during the period. Cinctive Capital Management LP’s holdings in Bausch Health Companies were worth $683,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Maverick Capital Ltd. boosted its holdings in shares of Bausch Health Companies by 17.7% during the 3rd quarter. Maverick Capital Ltd. now owns 271,211 shares of the company’s stock worth $2,213,000 after buying an additional 40,780 shares during the period. Verition Fund Management LLC bought a new stake in shares of Bausch Health Companies during the third quarter worth approximately $808,000. Goldentree Asset Management LP boosted its holdings in shares of Bausch Health Companies by 31.0% during the third quarter. Goldentree Asset Management LP now owns 29,395,745 shares of the company’s stock worth $239,552,000 after acquiring an additional 6,958,717 shares during the period. Northwest & Ethical Investments L.P. increased its stake in shares of Bausch Health Companies by 13.0% during the third quarter. Northwest & Ethical Investments L.P. now owns 32,384 shares of the company’s stock worth $264,000 after purchasing an additional 3,734 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Bausch Health Companies by 26.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 76,807 shares of the company’s stock worth $628,000 after purchasing an additional 16,101 shares during the period. 78.65% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

BHC has been the topic of a number of research reports. Evercore ISI raised Bausch Health Companies to a “hold” rating in a report on Tuesday, October 15th. Jefferies Financial Group decreased their price target on shares of Bausch Health Companies from $13.00 to $9.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. StockNews.com upgraded shares of Bausch Health Companies from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. Finally, Royal Bank of Canada raised their target price on shares of Bausch Health Companies from $10.00 to $11.00 and gave the stock a “sector perform” rating in a report on Friday, November 1st. 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. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $7.75.

Bausch Health Companies Trading Up 3.5 %

NYSE BHC opened at $8.09 on Wednesday. The firm’s 50 day simple moving average is $8.41 and its 200 day simple moving average is $7.16. The firm has a market capitalization of $2.91 billion, a price-to-earnings ratio of -16.85 and a beta of 0.69. Bausch Health Companies Inc. has a 1 year low of $3.96 and a 1 year high of $11.46.

Bausch Health Companies (NYSE:BHC) last issued 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 company had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.42 billion. During the same quarter last year, the company posted $1.03 EPS. The company’s revenue for the quarter was up 12.2% compared to the same quarter last year. On average, equities research analysts forecast that Bausch Health Companies Inc. will post 3.74 earnings per share for the current year.

Insider Buying and Selling at Bausch Health Companies

In related news, EVP Seana Carson sold 13,370 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $6.21, for a total transaction of $83,027.70. Following the completion of the transaction, the executive vice president now directly owns 435,198 shares in the company, valued at $2,702,579.58. This represents a 2.98 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 8.12% of the company’s stock.

Bausch Health Companies 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.