The Manufacturers Life Insurance Company Acquires 4,944 Shares of Bausch Health Companies Inc. (NYSE:BHC)

The Manufacturers Life Insurance Company grew its position in Bausch Health Companies Inc. (NYSE:BHC) by 2.0% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 246,808 shares of the company’s stock after purchasing an additional 4,944 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Bausch Health Companies were worth $1,719,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Hillsdale Investment Management Inc. grew its holdings in Bausch Health Companies by 1,050.8% during the first quarter. Hillsdale Investment Management Inc. now owns 3,409,383 shares of the company’s stock worth $36,135,000 after acquiring an additional 3,113,123 shares during the period. SG Americas Securities LLC grew its stake in shares of Bausch Health Companies by 3,080.9% in the first quarter. SG Americas Securities LLC now owns 2,200,526 shares of the company’s stock valued at $23,348,000 after buying an additional 2,131,347 shares in the last quarter. Hein Park Capital Management LP grew its stake in Bausch Health Companies by 56.9% during the 1st quarter. Hein Park Capital Management LP now owns 1,653,579 shares of the company’s stock worth $17,544,000 after purchasing an additional 600,000 shares in the last quarter. Natixis lifted its holdings in Bausch Health Companies by 14.3% during the 1st quarter. Natixis now owns 3,652,200 shares of the company’s stock worth $38,707,000 after buying an additional 456,000 shares during the last quarter. Finally, Private Management Group Inc. lifted its holdings 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 worth $10,427,000 after buying an additional 449,623 shares during the last quarter. 78.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Bausch Health Companies

In other news, EVP Seana Carson sold 13,370 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $6.21, for a total transaction of $83,027.70. Following the sale, the executive vice president now directly owns 435,198 shares of the company’s stock, valued at $2,702,579.58. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 8.12% of the company’s stock.

Analysts Set New Price Targets

BHC has been the subject of several analyst reports. Royal Bank of Canada reduced their price objective on Bausch Health Companies from $10.00 to $8.50 and set a “sector perform” rating for the company in a research note on Friday, August 2nd. Piper Sandler lowered Bausch Health Companies from a “neutral” rating to an “underweight” rating and reduced their price target for the stock from $9.00 to $3.00 in a research note on Friday, August 2nd. StockNews.com raised Bausch Health Companies from a “hold” rating to a “buy” rating in a research note on Wednesday, September 25th. Truist Financial cut their target price on Bausch Health Companies from $8.00 to $7.00 and set a “hold” rating on the stock in a research report on Thursday, July 25th. Finally, Jefferies Financial Group lowered their price target on Bausch Health Companies from $13.00 to $9.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $7.33.

Bausch Health Companies Trading Up 2.1 %

Shares of NYSE:BHC opened at $8.10 on Friday. Bausch Health Companies Inc. has a 1 year low of $3.96 and a 1 year high of $11.46. The firm has a fifty day moving average price of $6.67 and a 200 day moving average price of $7.23. The stock has a market capitalization of $2.92 billion, a PE ratio of -6.53 and a beta of 0.77.

Bausch Health Companies (NYSE:BHC) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.09. Bausch Health Companies had a negative net margin of 5.12% and a negative return on equity of 742.06%. The business had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.33 billion. During the same quarter in the prior year, the business earned $0.81 earnings per share. On average, sell-side analysts forecast that Bausch Health Companies Inc. will post 3.61 earnings per share 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.