JPMorgan Chase & Co. Sells 242,608 Shares of Bausch Health Cos Inc. $BHC

JPMorgan Chase & Co. decreased its holdings in shares of Bausch Health Cos Inc. (NYSE:BHC) by 49.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 244,778 shares of the company’s stock after selling 242,608 shares during the period. JPMorgan Chase & Co. owned 0.07% of Bausch Health Cos worth $1,579,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Swiss Life Asset Management Ltd bought a new position in shares of Bausch Health Cos during the third quarter valued at approximately $72,000. Goldentree Asset Management LP increased its stake in shares of Bausch Health Cos by 1.7% during the third quarter. Goldentree Asset Management LP now owns 34,833,431 shares of the company’s stock valued at $224,409,000 after purchasing an additional 578,542 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its stake in shares of Bausch Health Cos by 4.1% during the third quarter. CANADA LIFE ASSURANCE Co now owns 108,393 shares of the company’s stock valued at $699,000 after purchasing an additional 4,237 shares in the last quarter. Verition Fund Management LLC bought a new position in shares of Bausch Health Cos during the third quarter valued at approximately $1,107,000. Finally, Susquehanna Advisors Group Inc. bought a new position in shares of Bausch Health Cos during the third quarter valued at approximately $410,000. Institutional investors own 78.65% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Wall Street Zen cut shares of Bausch Health Cos from a “strong-buy” rating to a “buy” rating in a report on Sunday, February 15th. Truist Financial lifted their target price on shares of Bausch Health Cos from $7.00 to $8.00 and gave the stock a “hold” rating in a report on Wednesday, January 7th. Barclays decreased their target price on shares of Bausch Health Cos from $8.00 to $7.00 and set an “equal weight” rating for the company in a report on Wednesday, February 25th. Weiss Ratings cut shares of Bausch Health Cos from a “hold (c)” rating to a “sell (d+)” rating in a report on Thursday, February 19th. Finally, Raymond James Financial reaffirmed a “market perform” rating on shares of Bausch Health Cos in a report on Monday, January 26th. Four investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Bausch Health Cos has an average rating of “Reduce” and an average target price of $8.33.

Bausch Health Cos Stock Up 1.4%

Shares of Bausch Health Cos stock opened at $5.34 on Thursday. The company has a debt-to-equity ratio of 54.68, a quick ratio of 1.08 and a current ratio of 1.47. The stock has a market capitalization of $1.99 billion, a PE ratio of 12.70 and a beta of 0.40. Bausch Health Cos Inc. has a 52-week low of $4.25 and a 52-week high of $8.69. The company has a 50-day simple moving average of $5.57 and a two-hundred day simple moving average of $6.28.

Bausch Health Cos (NYSE:BHC) last announced its quarterly earnings results on Wednesday, February 18th. The company reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.13). Bausch Health Cos had a return on equity of 875.00% and a net margin of 1.53%.The company had revenue of $2.78 billion during the quarter, compared to the consensus estimate of $2.71 billion. On average, analysts anticipate that Bausch Health Cos Inc. will post 4.41 EPS for the current fiscal year.

Bausch Health Cos Company Profile

Bausch Health Cos Inc, formerly known as Valeant Pharmaceuticals International, is a global specialty pharmaceutical company headquartered in Laval, Quebec, Canada. The company operates through two primary segments: Ophthalmology, led by its Bausch + Lomb franchise, and Diversified Brands, which encompasses prescription dermatology, gastrointestinal, neurology and branded pharmaceutical products. Bausch Health develops, manufactures and markets a range of therapeutic and over-the-counter offerings designed to address conditions such as cataracts, dry eye, glaucoma, acne, rosacea, migraine and gastrointestinal disorders.

The Ophthalmology segment under the Bausch + Lomb name provides products for eye health, including prescription drops, contact lens care solutions, intraocular lenses, surgical instruments and diagnostic devices.