JustInvest LLC Buys New Holdings in Bausch Health Companies Inc. (NYSE:BHC)

JustInvest LLC bought a new stake in Bausch Health Companies Inc. (NYSE:BHC) during the third quarter, Holdings Channel reports. The fund bought 12,941 shares of the company’s stock, valued at approximately $360,000.

A number of other institutional investors have also recently modified their holdings of the stock. ClariVest Asset Management LLC acquired a new position in Bausch Health Companies in the third quarter valued at $7,515,000. Moors & Cabot Inc. acquired a new position in shares of Bausch Health Companies during the third quarter worth about $228,000. Truist Financial Corp lifted its stake in shares of Bausch Health Companies by 7.1% during the third quarter. Truist Financial Corp now owns 13,806 shares of the company’s stock worth $384,000 after purchasing an additional 919 shares in the last quarter. Advisor Group Holdings Inc. lifted its stake in shares of Bausch Health Companies by 25.3% during the third quarter. Advisor Group Holdings Inc. now owns 51,947 shares of the company’s stock worth $1,449,000 after purchasing an additional 10,503 shares in the last quarter. Finally, Pendal Group Ltd lifted its stake in shares of Bausch Health Companies by 943.9% during the third quarter. Pendal Group Ltd now owns 534,290 shares of the company’s stock worth $14,880,000 after purchasing an additional 483,107 shares in the last quarter. Hedge funds and other institutional investors own 71.20% of the company’s stock.

A number of brokerages have commented on BHC. Zacks Investment Research upgraded Bausch Health Companies from a “hold” rating to a “buy” rating and set a $29.00 price objective on the stock in a research note on Tuesday, January 4th. Jefferies Financial Group restated a “buy” rating on shares of Bausch Health Companies in a research note on Friday, October 1st. BMO Capital Markets restated a “hold” rating on shares of Bausch Health Companies in a research note on Monday, November 8th. Finally, Royal Bank of Canada dropped their target price on Bausch Health Companies from $41.00 to $40.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $35.50.

In other news, Director Steven D. Miller acquired 50,000 shares of the stock in a transaction that occurred on Tuesday, November 30th. The stock was purchased at an average cost of $24.24 per share, with a total value of $1,212,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 13.75% of the stock is owned by insiders.

Shares of Bausch Health Companies stock opened at $27.08 on Friday. Bausch Health Companies Inc. has a fifty-two week low of $22.99 and a fifty-two week high of $34.80. The business has a 50-day moving average price of $26.20 and a 200 day moving average price of $27.58.

Bausch Health Companies (NYSE:BHC) last announced its quarterly earnings data on Tuesday, November 2nd. The company reported $1.14 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.07 by $0.07. The firm had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.15 billion. Bausch Health Companies had a negative return on equity of 2,440.75% and a negative net margin of 13.85%. Equities research analysts anticipate that Bausch Health Companies Inc. will post 4.25 earnings per share for the current fiscal 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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