Moody Lynn & Lieberson LLC acquired a new stake in shares of Bausch Health Companies Inc (NYSE:BHC) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 18,945 shares of the company’s stock, valued at approximately $486,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Andra AP fonden bought a new stake in shares of Bausch Health Companies during the third quarter valued at approximately $7,039,000. Marshall Wace LLP bought a new stake in shares of Bausch Health Companies during the second quarter valued at approximately $2,974,000. Private Management Group Inc. bought a new stake in shares of Bausch Health Companies during the second quarter valued at approximately $28,474,000. Point View Wealth Management Inc. bought a new stake in shares of Bausch Health Companies during the second quarter valued at approximately $1,132,000. Finally, NEXT Financial Group Inc bought a new stake in shares of Bausch Health Companies during the third quarter valued at approximately $101,000. Hedge funds and other institutional investors own 43.28% of the company’s stock.
Shares of NYSE:BHC opened at $21.95 on Tuesday. The company has a market cap of $7.99 billion, a P/E ratio of 5.73, a P/E/G ratio of 0.33 and a beta of -0.48. The company has a debt-to-equity ratio of 6.99, a quick ratio of 0.89 and a current ratio of 1.14. Bausch Health Companies Inc has a 12-month low of $10.94 and a 12-month high of $28.45.
In related news, EVP Christina Ackermann sold 19,946 shares of Bausch Health Companies stock in a transaction that occurred on Tuesday, October 16th. The stock was sold at an average price of $24.98, for a total transaction of $498,251.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Joseph C. Papa bought 30,000 shares of the business’s stock in a transaction that occurred on Friday, September 14th. The shares were bought at an average cost of $22.32 per share, for a total transaction of $669,600.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 165,000 shares of company stock worth $3,890,700. 11.54% of the stock is owned by insiders.
Several equities research analysts have recently commented on BHC shares. ValuEngine downgraded Bausch Health Companies from a “hold” rating to a “sell” rating in a report on Friday, September 7th. Royal Bank of Canada set a $30.00 target price on Bausch Health Companies and gave the company a “hold” rating in a research report on Monday, October 8th. Piper Jaffray Companies set a $16.00 target price on Bausch Health Companies and gave the company a “sell” rating in a research report on Tuesday, August 7th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $32.00 target price on shares of Bausch Health Companies in a research report on Wednesday, September 12th. Finally, JPMorgan Chase & Co. lifted their target price on Bausch Health Companies to $18.00 and gave the company an “underweight” rating in a research report on Wednesday, August 8th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $26.89.
Bausch Health Companies Company Profile
Bausch Health Companies Inc develops, manufactures, and markets a range of pharmaceutical, medical device, and over-the-counter products primarily in the therapeutic areas of eye health, gastroenterology, and dermatology. It offers dermatology products that treat a range of conditions, including actinic keratosis, acne, atopic dermatitis, psoriasis, cold sores, athlete's foot, nail fungus, and other dermatoses, as well as provides aesthetic medical devices, which address various conditions, including facial wrinkles, acne, pigmentation conditions, body sculpting, skin tightening, and laser hair removal.
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