Verition Fund Management LLC Acquires New Shares in Bausch Health Companies Inc. (NYSE:BHC)

Verition Fund Management LLC acquired a new position in shares of Bausch Health Companies Inc. (NYSE:BHC) during the third quarter, Holdings Channel.com reports. The institutional investor acquired 99,028 shares of the company’s stock, valued at approximately $808,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Goldentree Asset Management LP grew its holdings in shares of Bausch Health Companies by 31.0% during the third quarter. Goldentree Asset Management LP now owns 29,395,745 shares of the company’s stock worth $239,552,000 after purchasing an additional 6,958,717 shares during the last quarter. Bank of Montreal Can boosted its position in Bausch Health Companies by 234.0% during the 3rd quarter. Bank of Montreal Can now owns 3,833,179 shares of the company’s stock worth $31,598,000 after buying an additional 2,685,675 shares during the period. Mackenzie Financial Corp grew its holdings in Bausch Health Companies by 111.0% during the 2nd quarter. Mackenzie Financial Corp now owns 2,381,888 shares of the company’s stock worth $16,612,000 after acquiring an additional 1,252,834 shares during the last quarter. Clearline Capital LP bought a new position in shares of Bausch Health Companies during the second quarter valued at $6,881,000. Finally, Private Management Group Inc. raised its stake in shares of Bausch Health Companies by 43.0% during the second quarter. Private Management Group Inc. now owns 1,495,953 shares of the company’s stock valued at $10,427,000 after acquiring an additional 449,623 shares during the last quarter. Institutional investors and hedge funds own 78.65% of the company’s stock.

Bausch Health Companies Trading Up 3.7 %

Shares of Bausch Health Companies stock opened at $8.46 on Tuesday. The company has a market cap of $3.06 billion, a P/E ratio of -17.61 and a beta of 0.69. The business has a 50-day moving average price of $8.41 and a two-hundred day moving average price of $7.21. 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 issued its earnings results on Wednesday, October 30th. The company reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.10. The business had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.42 billion. Bausch Health Companies had a negative return on equity of 755.86% and a negative net margin of 1.88%. The firm’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.03 earnings per share. Equities research analysts forecast that Bausch Health Companies Inc. will post 3.74 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BHC. StockNews.com upgraded Bausch Health Companies from a “hold” rating to a “buy” rating in a report on Friday, October 25th. Royal Bank of Canada increased their price target on 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. Finally, Evercore ISI raised Bausch Health Companies to a “hold” rating in a research note on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $7.75.

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.