Bank of Montreal Can Sells 355,327 Shares of Bausch Health Companies Inc. (NYSE:BHC)

Bank of Montreal Can lessened its holdings in Bausch Health Companies Inc. (NYSE:BHC) by 23.6% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,147,504 shares of the company’s stock after selling 355,327 shares during the period. Bank of Montreal Can owned about 0.32% of Bausch Health Companies worth $7,848,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Salem Investment Counselors Inc. bought a new position in Bausch Health Companies in the first quarter worth approximately $32,000. Headlands Technologies LLC purchased a new stake in shares of Bausch Health Companies in the 2nd quarter worth $35,000. MQS Management LLC bought a new position in Bausch Health Companies in the 2nd quarter worth $71,000. Certuity LLC purchased a new position in Bausch Health Companies during the second quarter valued at $75,000. Finally, Bfsg LLC lifted its position in Bausch Health Companies by 46.7% during the second quarter. Bfsg LLC now owns 11,450 shares of the company’s stock valued at $80,000 after purchasing an additional 3,643 shares in the last quarter. Hedge funds and other institutional investors own 78.65% of the company’s stock.

Bausch Health Companies Trading Down 1.2 %

Shares of BHC opened at $8.16 on Tuesday. The company’s fifty day simple moving average is $6.35 and its 200-day simple moving average is $7.27. The company has a market cap of $2.95 billion, a P/E ratio of -6.58 and a beta of 0.75. Bausch Health Companies Inc. has a twelve month low of $3.96 and a twelve month high of $11.46.

Bausch Health Companies (NYSE:BHC) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.09. The business had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.33 billion. Bausch Health Companies had a negative net margin of 5.12% and a negative return on equity of 742.06%. During the same quarter last year, the firm earned $0.81 earnings per share. Analysts predict that Bausch Health Companies Inc. will post 3.61 earnings per share for the current fiscal year.

Insider Activity at Bausch Health Companies

In other news, EVP Seana Carson sold 13,370 shares of Bausch Health Companies stock in a transaction on Friday, September 6th. The stock was sold at an average price of $6.21, for a total transaction of $83,027.70. Following the completion of the sale, the executive vice president now directly owns 435,198 shares in the company, valued at $2,702,579.58. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 8.12% of the stock is owned by company insiders.

Analyst Ratings Changes

BHC has been the subject of a number of recent research reports. Truist Financial cut their price objective on Bausch Health Companies from $8.00 to $7.00 and set a “hold” rating for the company in a research note on Thursday, July 25th. Royal Bank of Canada decreased 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. Raymond James started coverage on Bausch Health Companies in a report on Wednesday, July 10th. They set a “market perform” rating and a $8.00 price target for the company. Scotiabank lowered their target price on Bausch Health Companies from $10.00 to $8.50 and set a “sector perform” rating for the company in a research report on Friday, August 2nd. Finally, Piper Sandler lowered shares of Bausch Health Companies from a “neutral” rating to an “underweight” rating and cut their target price for the company from $9.00 to $3.00 in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $7.33.

Bausch Health Companies 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.