Vanguard Group Inc. Trims Stake in Bausch Health Cos Inc. $BHC

Vanguard Group Inc. reduced its position in shares of Bausch Health Cos Inc. (NYSE:BHC) by 12.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,679,760 shares of the company’s stock after selling 1,561,312 shares during the quarter. Vanguard Group Inc. owned about 2.88% of Bausch Health Cos worth $74,150,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Goldentree Asset Management LP increased its holdings in Bausch Health Cos by 1.7% during the 3rd quarter. Goldentree Asset Management LP now owns 34,833,431 shares of the company’s stock worth $224,409,000 after purchasing an additional 578,542 shares during the period. Private Management Group Inc. increased its holdings in Bausch Health Cos by 13.6% during the 3rd quarter. Private Management Group Inc. now owns 1,621,725 shares of the company’s stock worth $10,460,000 after purchasing an additional 194,158 shares during the period. Cinctive Capital Management LP purchased a new position in Bausch Health Cos during the 3rd quarter worth $697,000. Swiss Life Asset Management Ltd purchased a new position in Bausch Health Cos during the 3rd quarter worth $72,000. Finally, Centiva Capital LP increased its holdings in Bausch Health Cos by 112.8% during the 3rd quarter. Centiva Capital LP now owns 77,753 shares of the company’s stock worth $502,000 after purchasing an additional 41,212 shares during the period. 78.65% of the stock is currently owned by hedge funds and other institutional investors.

Bausch Health Cos Stock Up 3.1%

Bausch Health Cos stock opened at $5.46 on Friday. The company has a debt-to-equity ratio of 54.68, a current ratio of 1.32 and a quick ratio of 0.97. The stock has a market capitalization of $2.04 billion, a price-to-earnings ratio of -1.68 and a beta of 0.42. Bausch Health Cos Inc. has a 1-year low of $4.41 and a 1-year high of $8.69. The business has a fifty day moving average price of $5.43 and a 200-day moving average price of $6.16.

Bausch Health Cos (NYSE:BHC) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.03). Bausch Health Cos had a negative return on equity of 2,922.77% and a negative net margin of 11.47%.The business had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.37 billion. Equities research analysts forecast that Bausch Health Cos Inc. will post 4.08 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BHC has been the topic of several research reports. Weiss Ratings downgraded Bausch Health Cos from a “sell (d)” rating to a “sell (d-)” rating in a report on Monday, May 4th. Royal Bank Of Canada lowered their price target on shares of Bausch Health Cos from $10.00 to $9.00 and set a “sector perform” rating for the company in a research report on Monday, April 27th. Barclays lowered their price target on shares of Bausch Health Cos from $8.00 to $7.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 25th. Raymond James Financial reaffirmed a “market perform” rating on shares of Bausch Health Cos in a research report on Monday, January 26th. Finally, Wall Street Zen cut Bausch Health Cos from a “strong-buy” rating to a “buy” rating in a research report on Sunday, February 15th. Four research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Bausch Health Cos currently has an average rating of “Reduce” and an average target price of $8.00.

Bausch Health Cos 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.