Bridgewater Associates LP Cuts Stake in Bausch Health Companies Inc. (NYSE:BHC)

Bridgewater Associates LP lowered its holdings in shares of Bausch Health Companies Inc. (NYSE:BHC) by 3.8% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 115,297 shares of the company’s stock after selling 4,529 shares during the period. Bridgewater Associates LP’s holdings in Bausch Health Companies were worth $3,387,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. BDO Wealth Advisors LLC purchased a new position in Bausch Health Companies during the 1st quarter valued at approximately $36,000. Heritage Wealth Advisors purchased a new position in Bausch Health Companies during the 2nd quarter valued at approximately $42,000. Tarbox Family Office Inc. purchased a new position in Bausch Health Companies during the 2nd quarter valued at approximately $59,000. Ameritas Investment Company LLC purchased a new position in Bausch Health Companies during the 1st quarter valued at approximately $67,000. Finally, Odey Asset Management Group Ltd purchased a new position in Bausch Health Companies during the 1st quarter valued at approximately $86,000. Hedge funds and other institutional investors own 70.31% of the company’s stock.

In other news, Director Schutter Richard U. De bought 10,000 shares of the firm’s stock in a transaction on Wednesday, August 4th. The stock was acquired at an average cost of $25.01 per share, with a total value of $250,100.00. Following the transaction, the director now directly owns 317,109 shares in the company, valued at approximately $7,930,896.09. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 13.75% of the company’s stock.

A number of brokerages have recently commented on BHC. HC Wainwright reiterated a “buy” rating on shares of Bausch Health Companies in a report on Thursday, July 8th. Barclays dropped their target price on Bausch Health Companies from $35.00 to $31.00 and set an “overweight” rating for the company in a report on Wednesday, August 4th. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of Bausch Health Companies in a report on Friday, October 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $34.40.

Shares of BHC stock opened at $27.89 on Thursday. Bausch Health Companies Inc. has a 52-week low of $16.08 and a 52-week high of $34.80. The company has a debt-to-equity ratio of 39.55, a quick ratio of 0.79 and a current ratio of 0.99. The firm has a market capitalization of $10.00 billion, a P/E ratio of -7.75, a P/E/G ratio of 0.55 and a beta of 1.71. The stock has a 50 day moving average price of $28.14 and a 200 day moving average price of $29.31.

Bausch Health Companies (NYSE:BHC) last issued its earnings results on Monday, August 2nd. The company reported $0.97 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.02. The business had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.12 billion. Bausch Health Companies had a positive return on equity of 1,271.62% and a negative net margin of 15.18%. As a group, sell-side analysts forecast that Bausch Health Companies Inc. will post 4.24 EPS for the current year.

Bausch Health Companies Profile

Bausch Health Cos., Inc engages in the development, manufacture and market of a range of branded, generic and branded generic pharmaceuticals, medical devices and over-the-counter products. It operates through the following segments: The Bausch + Lomb/International, Salix, Ortho Dermatologics and Diversified Products.

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

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