Maverick Capital Ltd. Increases Holdings in Bausch Health Companies Inc. (NYSE:BHC)

Maverick Capital Ltd. boosted its stake in Bausch Health Companies Inc. (NYSE:BHC) by 17.7% during the third quarter, Holdings Channel.com reports. The institutional investor owned 271,211 shares of the company’s stock after acquiring an additional 40,780 shares during the period. Maverick Capital Ltd.’s holdings in Bausch Health Companies were worth $2,213,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Headlands Technologies LLC purchased a new stake in Bausch Health Companies in the 2nd quarter valued at approximately $35,000. MQS Management LLC acquired a new position in Bausch Health Companies in the 2nd quarter valued at $71,000. Certuity LLC acquired a new position in Bausch Health Companies in the 2nd quarter valued at $75,000. Bfsg LLC raised its holdings in Bausch Health Companies by 46.7% in the 2nd quarter. Bfsg LLC now owns 11,450 shares of the company’s stock valued at $80,000 after acquiring an additional 3,643 shares during the last quarter. Finally, Kendall Capital Management acquired a new position in Bausch Health Companies in the 2nd quarter valued at $87,000. Hedge funds and other institutional investors own 78.65% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on BHC shares. Jefferies Financial Group cut 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. Piper Sandler downgraded Bausch Health Companies from a “neutral” rating to an “underweight” rating and cut their price target for the company from $9.00 to $3.00 in a report on Friday, August 2nd. Scotiabank dropped their price objective on Bausch Health Companies from $10.00 to $8.50 and set a “sector perform” rating for the company in a report on Friday, August 2nd. Royal Bank of Canada upped their price objective on Bausch Health Companies from $10.00 to $11.00 and gave the stock a “sector perform” rating in a report on Friday, November 1st. Finally, StockNews.com upgraded Bausch Health Companies from a “hold” rating to a “buy” rating in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Bausch Health Companies presently has a consensus rating of “Hold” and a consensus target price of $7.75.

Insider Activity at Bausch Health Companies

In related news, EVP Seana Carson sold 13,370 shares of the firm’s 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 completion of the sale, the executive vice president now directly owns 435,198 shares in the company, valued at approximately $2,702,579.58. This trade represents a 2.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 8.12% of the company’s stock.

Bausch Health Companies Trading Up 3.1 %

Shares of NYSE:BHC opened at $8.37 on Friday. The firm’s 50 day moving average is $8.41 and its two-hundred day moving average is $7.14. Bausch Health Companies Inc. has a 52 week low of $3.96 and a 52 week high of $11.46. The firm has a market capitalization of $3.01 billion, a P/E ratio of -17.44 and a beta of 0.74.

Bausch Health Companies (NYSE:BHC) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $1.12 EPS for the quarter, beating the consensus estimate of $1.02 by $0.10. Bausch Health Companies had a negative net margin of 1.88% and a negative return on equity of 755.86%. The company had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.42 billion. During the same quarter last year, the business earned $1.03 earnings per share. Bausch Health Companies’s revenue was up 12.2% compared to the same quarter last year. Analysts predict that Bausch Health Companies Inc. will post 3.74 EPS for the current year.

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.