Readystate Asset Management LP Buys New Shares in Bausch Health Companies Inc. (NYSE:BHC)

Readystate Asset Management LP bought a new stake in Bausch Health Companies Inc. (NYSE:BHC) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 365,761 shares of the company’s stock, valued at approximately $2,933,000.

Several other hedge funds and other institutional investors have also made changes to their positions in BHC. Aviva PLC lifted its holdings in Bausch Health Companies by 2.2% during the 1st quarter. Aviva PLC now owns 45,626 shares of the company’s stock valued at $1,044,000 after purchasing an additional 971 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in Bausch Health Companies by 0.5% during the 2nd quarter. CIBC Asset Management Inc now owns 267,868 shares of the company’s stock valued at $2,145,000 after purchasing an additional 1,428 shares during the last quarter. Legal & General Group Plc lifted its holdings in Bausch Health Companies by 0.5% during the 3rd quarter. Legal & General Group Plc now owns 296,379 shares of the company’s stock valued at $2,455,000 after purchasing an additional 1,565 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in Bausch Health Companies by 0.9% in the second quarter. The Manufacturers Life Insurance Company now owns 211,993 shares of the company’s stock valued at $1,696,000 after purchasing an additional 1,945 shares in the last quarter. Finally, Gabelli Funds LLC grew its position in Bausch Health Companies by 2.2% in the first quarter. Gabelli Funds LLC now owns 93,000 shares of the company’s stock valued at $753,000 after acquiring an additional 2,000 shares during the last quarter. 78.65% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

BHC has been the topic of a number of recent analyst reports. StockNews.com upgraded Bausch Health Companies from a “hold” rating to a “buy” rating in a research report on Wednesday, February 7th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $12.00 target price on shares of Bausch Health Companies in a research report on Friday, April 12th. Finally, Jefferies Financial Group lowered their price objective on Bausch Health Companies from $16.00 to $14.00 and set a “buy” rating for the company in a research note on Tuesday, February 20th.

Bausch Health Companies Trading Down 0.9 %

NYSE:BHC traded down $0.08 on Wednesday, reaching $8.66. 2,161,431 shares of the stock traded hands, compared to its average volume of 2,798,349. The firm has a market capitalization of $3.16 billion, a price-to-earnings ratio of -5.35 and a beta of 0.85. The company’s 50 day moving average is $9.27 and its 200-day moving average is $8.15. Bausch Health Companies Inc. has a 1-year low of $5.57 and a 1-year high of $11.46.

Bausch Health Companies (NYSE:BHC) last released its earnings results on Thursday, February 22nd. The company reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.14. The business had revenue of $2.41 billion during the quarter, compared to the consensus estimate of $2.29 billion. Bausch Health Companies had a negative net margin of 6.76% and a positive return on equity of 5,147.48%. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.02 EPS. On average, equities research analysts forecast that Bausch Health Companies Inc. will post 3.95 EPS for the current fiscal year.

Bausch Health Companies Company 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.