Brown Brothers Harriman & Co. Takes Position in Bausch Health Companies Inc. (NYSE:BHC)

Brown Brothers Harriman & Co. purchased a new position in shares of Bausch Health Companies Inc. (NYSE:BHC) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 15,600 shares of the company’s stock, valued at approximately $109,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Headlands Technologies LLC bought a new stake in shares of Bausch Health Companies during the second quarter valued at approximately $35,000. Private Management Group Inc. increased its stake in Bausch Health Companies by 43.0% during the 2nd quarter. Private Management Group Inc. now owns 1,495,953 shares of the company’s stock valued at $10,427,000 after purchasing an additional 449,623 shares in the last quarter. Certuity LLC bought a new position in shares of Bausch Health Companies in the second quarter valued at $75,000. Range Financial Group LLC lifted its stake in shares of Bausch Health Companies by 5.6% in the second quarter. Range Financial Group LLC now owns 93,397 shares of the company’s stock valued at $651,000 after buying an additional 4,982 shares in the last quarter. Finally, CIBC Asset Management Inc grew its holdings in shares of Bausch Health Companies by 8.8% during the second quarter. CIBC Asset Management Inc now owns 373,647 shares of the company’s stock valued at $2,604,000 after buying an additional 30,124 shares during the last quarter. Institutional investors own 78.65% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on BHC shares. Piper Sandler cut shares of Bausch Health Companies from a “neutral” rating to an “underweight” rating and dropped their price target for the company from $9.00 to $3.00 in a research report on Friday, August 2nd. Royal Bank of Canada cut their target price on Bausch Health Companies from $10.00 to $8.50 and set a “sector perform” rating on the stock in a research report on Friday, August 2nd. Truist Financial lowered their price target on Bausch Health Companies from $8.00 to $7.00 and set a “hold” rating for the company in a research report on Thursday, July 25th. Scotiabank cut their price objective on shares of Bausch Health Companies from $10.00 to $8.50 and set a “sector perform” rating on the stock in a report on Friday, August 2nd. Finally, StockNews.com lowered shares of Bausch Health Companies from a “buy” rating to a “hold” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $7.33.

Insider Activity

In related news, EVP Seana Carson sold 13,370 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $6.21, for a total value of $83,027.70. Following the transaction, the executive vice president now owns 435,198 shares in the company, valued at $2,702,579.58. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 8.12% of the company’s stock.

Bausch Health Companies Trading Up 11.7 %

BHC stock opened at $8.02 on Thursday. The stock has a market cap of $2.90 billion, a P/E ratio of -6.47 and a beta of 0.75. The stock’s fifty day simple moving average is $6.24 and its two-hundred day simple moving average is $7.35. Bausch Health Companies Inc. has a 1-year low of $3.96 and a 1-year high of $11.46.

Bausch Health Companies (NYSE:BHC) last released its earnings results on Thursday, August 1st. The company reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.09. The company had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.33 billion. Bausch Health Companies had a negative return on equity of 742.06% and a negative net margin of 5.12%. During the same period in the previous year, the business posted $0.81 EPS. As a group, analysts forecast that Bausch Health Companies Inc. will post 3.61 earnings per share for the current fiscal year.

About Bausch Health Companies

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.