Cinctive Capital Management LP Acquires New Shares in Bausch Health Cos Inc. $BHC

Cinctive Capital Management LP bought a new stake in Bausch Health Cos Inc. (NYSE:BHC) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 108,022 shares of the company’s stock, valued at approximately $697,000.

Several other institutional investors have also recently bought and sold shares of BHC. Tidal Investments LLC boosted its stake in shares of Bausch Health Cos by 2.6% in the 2nd quarter. Tidal Investments LLC now owns 50,131 shares of the company’s stock valued at $334,000 after purchasing an additional 1,276 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in shares of Bausch Health Cos by 2.5% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 104,156 shares of the company’s stock valued at $690,000 after purchasing an additional 2,552 shares during the last quarter. Russell Investments Group Ltd. increased its position in Bausch Health Cos by 65.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 7,819 shares of the company’s stock worth $51,000 after purchasing an additional 3,106 shares in the last quarter. Bfsg LLC increased its position in Bausch Health Cos by 32.8% during the 3rd quarter. Bfsg LLC now owns 14,465 shares of the company’s stock worth $93,000 after purchasing an additional 3,570 shares in the last quarter. Finally, State of Wyoming lifted its stake in Bausch Health Cos by 6.4% in the 2nd quarter. State of Wyoming now owns 63,653 shares of the company’s stock valued at $424,000 after purchasing an additional 3,855 shares during the last quarter. Institutional investors and hedge funds own 78.65% of the company’s stock.

Bausch Health Cos Trading Up 1.3%

Shares of NYSE BHC opened at $5.03 on Tuesday. The stock has a market cap of $1.87 billion, a P/E ratio of 11.96 and a beta of 0.37. The firm has a 50 day moving average price of $6.15 and a two-hundred day moving average price of $6.51. The company has a debt-to-equity ratio of 54.68, a quick ratio of 1.08 and a current ratio of 1.47. Bausch Health Cos Inc. has a 52-week low of $4.25 and a 52-week high of $8.69.

Bausch Health Cos (NYSE:BHC) last posted its quarterly earnings data on Wednesday, February 18th. The company reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.13). The company had revenue of $2.78 billion during the quarter, compared to analyst estimates of $2.71 billion. Bausch Health Cos had a net margin of 1.53% and a return on equity of 875.00%. As a group, equities analysts forecast that Bausch Health Cos Inc. will post 4.41 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Barclays decreased their target price on shares of Bausch Health Cos from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 25th. Truist Financial increased their price target on Bausch Health Cos from $7.00 to $8.00 and gave the company a “hold” rating in a research note on Wednesday, January 7th. Wall Street Zen downgraded Bausch Health Cos from a “strong-buy” rating to a “buy” rating in a report on Sunday, February 15th. Weiss Ratings cut Bausch Health Cos from a “hold (c)” rating to a “sell (d+)” rating in a report on Thursday, February 19th. Finally, Raymond James Financial reiterated a “market perform” rating on shares of Bausch Health Cos in a research report on Monday, January 26th. Four analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $8.33.

About Bausch Health Cos

Bausch Health Cos Inc, formerly known as Valeant Pharmaceuticals International, is a global specialty pharmaceutical company headquartered in Laval, Quebec, Canada. The company operates through two primary segments: Ophthalmology, led by its Bausch + Lomb franchise, and Diversified Brands, which encompasses prescription dermatology, gastrointestinal, neurology and branded pharmaceutical products. Bausch Health develops, manufactures and markets a range of therapeutic and over-the-counter offerings designed to address conditions such as cataracts, dry eye, glaucoma, acne, rosacea, migraine and gastrointestinal disorders.

The Ophthalmology segment under the Bausch + Lomb name provides products for eye health, including prescription drops, contact lens care solutions, intraocular lenses, surgical instruments and diagnostic devices.