Korea Investment CORP purchased a new stake in Bausch Health Companies Inc (NYSE:BHC) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 40,436 shares of the company’s stock, valued at approximately $1,038,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. NEXT Financial Group Inc bought a new stake in shares of Bausch Health Companies during the 3rd quarter valued at about $101,000. Steward Partners Investment Advisory LLC bought a new stake in shares of Bausch Health Companies during the 3rd quarter valued at about $106,000. Polaris Greystone Financial Group LLC bought a new stake in shares of Bausch Health Companies during the 3rd quarter valued at about $107,000. Quadrant Capital Group LLC bought a new stake in shares of Bausch Health Companies during the 3rd quarter valued at about $118,000. Finally, Bedel Financial Consulting Inc. bought a new stake in shares of Bausch Health Companies during the 3rd quarter valued at about $129,000. Hedge funds and other institutional investors own 50.09% of the company’s stock.
Several equities research analysts recently commented on the company. ValuEngine upgraded Bausch Health Companies from a “sell” rating to a “hold” rating in a research report on Tuesday, November 6th. Royal Bank of Canada upped their target price on Bausch Health Companies from $30.00 to $31.00 and gave the company a “hold” rating in a research report on Wednesday, November 7th. Mizuho upped their target price on Bausch Health Companies from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Friday, November 30th. BMO Capital Markets restated a “hold” rating and set a $26.00 target price on shares of Bausch Health Companies in a research report on Tuesday, November 13th. Finally, HC Wainwright set a $25.00 price target on Bausch Health Companies and gave the stock a “hold” rating in a research note on Monday, October 8th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $28.18.
In other news, Director Schutter Richard U. De purchased 125,000 shares of the company’s stock in a transaction that occurred on Thursday, September 13th. The shares were acquired at an average cost of $23.96 per share, with a total value of $2,995,000.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Christina Ackermann sold 19,946 shares of the company’s 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. Over the last ninety days, insiders have purchased 165,000 shares of company stock worth $3,890,700. 11.54% of the stock is owned by company insiders.
BHC stock opened at $23.66 on Friday. Bausch Health Companies Inc has a fifty-two week low of $14.44 and a fifty-two week high of $28.45. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.91 and a current ratio of 1.14. The company has a market cap of $8.48 billion, a P/E ratio of 6.14, a PEG ratio of 0.32 and a beta of -0.28.
Bausch Health Companies (NYSE:BHC) last posted its quarterly earnings results on Tuesday, November 6th. The company reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.31. Bausch Health Companies had a positive return on equity of 32.19% and a negative net margin of 40.41%. The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.09 billion. Bausch Health Companies’s revenue for the quarter was down 3.7% on a year-over-year basis. On average, equities research analysts forecast that Bausch Health Companies Inc will post 3.81 earnings per share 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.
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