FIL Ltd Invests $75.62 Million in Bausch Health Companies Inc (BHC) Stock

FIL Ltd acquired a new stake in Bausch Health Companies Inc (NYSE:BHC) in the third quarter, HoldingsChannel reports. The institutional investor acquired 2,945,992 shares of the company’s stock, valued at approximately $75,624,000.

A number of other large investors have also recently bought and sold shares of BHC. Atlas Capital Advisors LLC acquired a new stake in Bausch Health Companies during the third quarter worth about $206,000. Opera Trading Capital acquired a new stake in Bausch Health Companies during the third quarter worth about $1,797,000. B & T Capital Management DBA Alpha Capital Management acquired a new stake in Bausch Health Companies during the third quarter worth about $308,000. PNC Financial Services Group Inc. acquired a new stake in Bausch Health Companies during the third quarter worth about $287,000. Finally, Bank of New York Mellon Corp acquired a new stake in Bausch Health Companies during the third quarter worth about $9,358,000. 42.74% of the stock is owned by institutional investors.

In other news, CEO Joseph C. Papa purchased 30,000 shares of the company’s stock in a transaction on Friday, September 14th. The shares were bought at an average price of $22.32 per share, for a total transaction of $669,600.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Christina Ackermann sold 19,946 shares of the firm’s stock in a transaction that occurred on Tuesday, October 16th. The shares were sold at an average price of $24.98, for a total transaction of $498,251.08. The disclosure for this sale can be found here. Insiders acquired 165,000 shares of company stock worth $3,890,700 in the last 90 days. 11.54% of the stock is owned by company insiders.

Several research firms recently weighed in on BHC. Zacks Investment Research upgraded shares of Bausch Health Companies from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a research note on Wednesday, October 3rd. ValuEngine lowered shares of Bausch Health Companies from a “hold” rating to a “sell” rating in a research note on Tuesday, October 2nd. TD Securities increased their price objective on shares of Bausch Health Companies from $24.00 to $28.00 and gave the stock a “hold” rating in a research note on Wednesday, November 7th. Royal Bank of Canada increased their price objective on shares of Bausch Health Companies from $30.00 to $31.00 and gave the stock a “hold” rating in a research note on Wednesday, November 7th. Finally, BMO Capital Markets reiterated a “hold” rating and set a $26.00 price objective on shares of Bausch Health Companies in a research note on Tuesday, November 13th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. Bausch Health Companies currently has an average rating of “Hold” and an average target price of $27.91.

Shares of NYSE:BHC opened at $23.26 on Friday. Bausch Health Companies Inc has a 52 week low of $14.44 and a 52 week high of $28.45. The company has a market capitalization of $8.14 billion, a price-to-earnings ratio of 5.89, a PEG ratio of 0.30 and a beta of -0.28. The company has a current ratio of 1.14, a quick ratio of 0.91 and a debt-to-equity ratio of 7.55.

Bausch Health Companies (NYSE:BHC) last announced its quarterly earnings results on Tuesday, November 6th. The company reported $1.15 EPS for the quarter, beating the consensus estimate of $0.84 by $0.31. Bausch Health Companies had a negative net margin of 40.41% and a positive return on equity of 32.19%. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.09 billion. The business’s revenue was down 3.7% compared to the same quarter last year. Sell-side analysts predict that Bausch Health Companies Inc will post 3.82 EPS 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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Institutional Ownership by Quarter for Bausch Health Companies (NYSE:BHC)

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