Hein Park Capital Management LP Buys 600,000 Shares of Bausch Health Companies Inc. (NYSE:BHC)

Hein Park Capital Management LP grew its position in Bausch Health Companies Inc. (NYSE:BHC) by 56.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,653,579 shares of the company’s stock after buying an additional 600,000 shares during the quarter. Bausch Health Companies makes up approximately 12.8% of Hein Park Capital Management LP’s portfolio, making the stock its 2nd largest position. Hein Park Capital Management LP owned approximately 0.45% of Bausch Health Companies worth $17,544,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Natixis boosted its position in Bausch Health Companies by 14.3% during the 1st quarter. Natixis now owns 3,652,200 shares of the company’s stock worth $38,707,000 after acquiring an additional 456,000 shares during the period. CANADA LIFE ASSURANCE Co boosted its holdings in shares of Bausch Health Companies by 4.1% during the first quarter. CANADA LIFE ASSURANCE Co now owns 88,457 shares of the company’s stock worth $933,000 after purchasing an additional 3,519 shares during the period. Hillsdale Investment Management Inc. grew its position in Bausch Health Companies by 1,050.8% during the first quarter. Hillsdale Investment Management Inc. now owns 3,409,383 shares of the company’s stock valued at $36,135,000 after purchasing an additional 3,113,123 shares in the last quarter. Acadian Asset Management LLC increased its stake in Bausch Health Companies by 135.1% in the 1st quarter. Acadian Asset Management LLC now owns 117,997 shares of the company’s stock valued at $1,249,000 after buying an additional 67,800 shares during the period. Finally, Vanguard Group Inc. lifted its position in Bausch Health Companies by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 11,713,993 shares of the company’s stock worth $124,285,000 after buying an additional 114,862 shares in the last quarter. 78.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BHC has been the topic of several research analyst reports. StockNews.com upgraded shares of Bausch Health Companies from a “hold” rating to a “buy” rating in a report on Saturday. Piper Sandler raised their price target on Bausch Health Companies from $7.00 to $9.00 and gave the stock a “neutral” rating in a research note on Monday, April 29th. Truist Financial reduced their price target on Bausch Health Companies from $8.00 to $7.00 and set a “hold” rating for the company in a report on Thursday. Raymond James assumed coverage on Bausch Health Companies in a report on Wednesday, July 10th. They issued a “market perform” rating and a $8.00 price objective on the stock. Finally, Royal Bank of Canada reduced their target price on shares of Bausch Health Companies from $12.00 to $11.00 and set a “sector perform” rating for the company in a research note on Tuesday, April 23rd. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $9.80.

Bausch Health Companies Price Performance

BHC traded down $0.04 on Monday, hitting $5.95. The company had a trading volume of 3,360,132 shares, compared to its average volume of 3,273,476. The stock has a market cap of $2.15 billion, a price-to-earnings ratio of -4.80 and a beta of 0.77. The company’s fifty day moving average price is $6.71 and its 200 day moving average price is $7.99. Bausch Health Companies Inc. has a 1-year low of $3.96 and a 1-year high of $11.46.

Bausch Health Companies (NYSE:BHC) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.16). The firm had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.18 billion. Bausch Health Companies had a negative return on equity of 2,370.91% and a negative net margin of 5.07%. On average, sell-side analysts forecast that Bausch Health Companies Inc. will post 3.6 EPS for the current year.

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.