Cerity Partners LLC Increases Stake in Bausch Health Companies Inc. (NYSE:BHC)

Cerity Partners LLC increased its position in shares of Bausch Health Companies Inc. (NYSE:BHC) by 14.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 79,290 shares of the company’s stock after purchasing an additional 9,978 shares during the period. Cerity Partners LLC’s holdings in Bausch Health Companies were worth $647,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its position in shares of Bausch Health Companies by 3.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,269,478 shares of the company’s stock worth $10,373,000 after acquiring an additional 42,539 shares in the last quarter. LMR Partners LLP purchased a new position in Bausch Health Companies in the 3rd quarter valued at approximately $3,264,000. CIBC Asset Management Inc boosted its position in shares of Bausch Health Companies by 0.3% in the 3rd quarter. CIBC Asset Management Inc now owns 374,729 shares of the company’s stock worth $3,060,000 after buying an additional 1,082 shares in the last quarter. Intact Investment Management Inc. acquired a new stake in Bausch Health Companies during the 3rd quarter valued at $1,543,000. Finally, Van ECK Associates Corp raised its stake in Bausch Health Companies by 13.5% in the 3rd quarter. Van ECK Associates Corp now owns 343,268 shares of the company’s stock valued at $2,770,000 after purchasing an additional 40,797 shares during the last quarter. Institutional investors and hedge funds own 78.65% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. StockNews.com raised Bausch Health Companies from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Evercore ISI upgraded shares of Bausch Health Companies to a “hold” rating in a research note on Tuesday, October 15th. Finally, Royal Bank of Canada boosted their target price on shares of Bausch Health Companies from $10.00 to $11.00 and gave the company a “sector perform” rating in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Bausch Health Companies has an average rating of “Hold” and an average price target of $7.75.

Bausch Health Companies Price Performance

NYSE BHC opened at $8.17 on Friday. Bausch Health Companies Inc. has a one year low of $3.96 and a one year high of $11.46. The firm has a market cap of $2.94 billion, a PE ratio of -17.01 and a beta of 0.69. The stock’s 50 day simple moving average is $8.41 and its 200 day simple moving average is $7.18.

Bausch Health Companies (NYSE:BHC) last released its quarterly earnings data on Wednesday, October 30th. The company reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.10. Bausch Health Companies had a negative return on equity of 755.86% and a negative net margin of 1.88%. The business had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.42 billion. During the same quarter in the prior year, the company posted $1.03 earnings per share. The firm’s revenue was up 12.2% on a year-over-year basis. As a group, equities analysts expect that Bausch Health Companies Inc. will post 3.74 earnings per share for the current 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.