Round Hill Asset Management Sells 6,774 Shares of Bausch Health Companies Inc. (NYSE:BHC)

Round Hill Asset Management reduced its position in shares of Bausch Health Companies Inc. (NYSE:BHC) by 7.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 83,801 shares of the company’s stock after selling 6,774 shares during the period. Round Hill Asset Management’s holdings in Bausch Health Companies were worth $684,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BHC. Vanguard Group Inc. boosted its stake in Bausch Health Companies by 1.0% in the first quarter. Vanguard Group Inc. now owns 11,713,993 shares of the company’s stock worth $124,285,000 after purchasing an additional 114,862 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in Bausch Health Companies by 4.1% in 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. Hein Park Capital Management LP lifted its holdings in Bausch Health Companies by 56.9% during the first quarter. Hein Park Capital Management LP now owns 1,653,579 shares of the company’s stock worth $17,544,000 after acquiring an additional 600,000 shares in the last quarter. Thompson Investment Management Inc. grew its position in shares of Bausch Health Companies by 12.7% in the 2nd quarter. Thompson Investment Management Inc. now owns 237,586 shares of the company’s stock valued at $1,656,000 after purchasing an additional 26,692 shares during the period. Finally, Bfsg LLC increased its stake in Bausch Health Companies by 46.7% during the 2nd quarter. Bfsg LLC now owns 11,450 shares of the company’s stock worth $80,000 after purchasing an additional 3,643 shares in the last quarter. 78.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Seana Carson sold 13,370 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $6.21, for a total value of $83,027.70. Following the completion of the sale, the executive vice president now directly owns 435,198 shares of the company’s stock, valued at $2,702,579.58. This trade represents a 2.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 8.12% of the company’s stock.

Wall Street Analyst Weigh In

BHC has been the subject of several research analyst reports. Jefferies Financial Group reduced 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. Scotiabank dropped their price target on Bausch Health Companies from $10.00 to $8.50 and set a “sector perform” rating on the stock in a research note on Friday, August 2nd. Royal Bank of Canada boosted their price target on Bausch Health Companies from $10.00 to $11.00 and gave the company a “sector perform” rating in a report on Friday, November 1st. Piper Sandler downgraded Bausch Health Companies from a “neutral” rating to an “underweight” rating and decreased their price objective for the stock from $9.00 to $3.00 in a report on Friday, August 2nd. Finally, Evercore ISI upgraded Bausch Health Companies to a “hold” rating in a research note on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $7.75.

Bausch Health Companies Stock Performance

BHC opened at $7.97 on Friday. The business’s 50-day simple moving average is $8.37 and its 200 day simple moving average is $7.11. The firm has a market capitalization of $2.93 billion, a PE ratio of -16.60 and a beta of 0.74. Bausch Health Companies Inc. has a 52-week low of $3.96 and a 52-week high of $11.46.

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

Bausch Health Companies Profile

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.