Bridgewater Associates LP Decreases Holdings in Bausch Health Companies Inc. (NYSE:BHC)

Bridgewater Associates LP lowered its stake in shares of Bausch Health Companies Inc. (NYSE:BHC) by 5.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 234,823 shares of the company’s stock after selling 12,953 shares during the period. Bridgewater Associates LP owned about 0.06% of Bausch Health Companies worth $1,916,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Headlands Technologies LLC purchased a new stake in Bausch Health Companies during the 2nd quarter worth approximately $35,000. MQS Management LLC acquired a new stake in Bausch Health Companies in the 2nd quarter valued at about $71,000. Certuity LLC acquired a new position in shares of Bausch Health Companies during the 2nd quarter valued at about $75,000. Bfsg LLC grew its holdings in shares of Bausch Health Companies by 46.7% in 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 during the period. Finally, Kendall Capital Management purchased a new position in Bausch Health Companies during the second quarter worth about $87,000. Institutional investors and hedge funds own 78.65% of the company’s stock.

Insider Transactions at Bausch Health Companies

In other news, EVP Seana Carson sold 13,370 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 435,198 shares of the company’s stock, valued at approximately $2,702,579.58. The trade was a 2.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 8.12% of the company’s stock.

Bausch Health Companies Price Performance

Shares of NYSE:BHC opened at $8.37 on Friday. The firm has a market capitalization of $3.01 billion, a PE ratio of -17.44 and a beta of 0.74. Bausch Health Companies Inc. has a 1 year low of $3.96 and a 1 year high of $11.46. The firm’s 50-day moving average is $8.41 and its two-hundred day moving average is $7.14.

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

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Jefferies Financial Group cut their price target on shares of Bausch Health Companies from $13.00 to $9.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Royal Bank of Canada boosted their price objective on shares of Bausch Health Companies from $10.00 to $11.00 and gave the company a “sector perform” rating in a report on Friday, November 1st. StockNews.com raised shares of Bausch Health Companies from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. Finally, Evercore ISI raised shares of Bausch Health Companies to a “hold” rating in a research note on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus 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.