Hsbc Holdings PLC Cuts Stock Holdings in Bausch Health Companies Inc. (NYSE:BHC)

Hsbc Holdings PLC reduced its stake in Bausch Health Companies Inc. (NYSE:BHC) by 35.0% in the second quarter, HoldingsChannel reports. The institutional investor owned 24,483 shares of the company’s stock after selling 13,170 shares during the quarter. Hsbc Holdings PLC’s holdings in Bausch Health Companies were worth $169,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Hillsdale Investment Management Inc. raised its holdings in shares of Bausch Health Companies by 1,050.8% in 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 during the last quarter. SG Americas Securities LLC boosted its stake in shares of Bausch Health Companies by 3,080.9% in the 1st quarter. SG Americas Securities LLC now owns 2,200,526 shares of the company’s stock worth $23,348,000 after buying an additional 2,131,347 shares during the last quarter. Hein Park Capital Management LP increased its position in shares of 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 valued at $17,544,000 after acquiring an additional 600,000 shares during the last quarter. Natixis lifted its holdings in Bausch Health Companies by 14.3% during the first 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. Finally, Private Management Group Inc. grew its stake in Bausch Health Companies by 43.0% in the 2nd quarter. Private Management Group Inc. now owns 1,495,953 shares of the company’s stock valued at $10,427,000 after purchasing an additional 449,623 shares during the period. 78.65% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on BHC. StockNews.com raised shares of Bausch Health Companies from a “hold” rating to a “buy” rating in a report on Wednesday, September 25th. Piper Sandler downgraded shares of Bausch Health Companies from a “neutral” rating to an “underweight” rating and reduced their target price for the company from $9.00 to $3.00 in a research report on Friday, August 2nd. Truist Financial lowered their price target on shares of Bausch Health Companies from $8.00 to $7.00 and set a “hold” rating on the stock in a report on Thursday, July 25th. Raymond James initiated coverage on Bausch Health Companies in a research note on Wednesday, July 10th. They issued a “market perform” rating and a $8.00 target price on the stock. Finally, Scotiabank decreased their price objective on Bausch Health Companies from $10.00 to $8.50 and set a “sector perform” rating for the company in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $7.33.

Insiders Place Their Bets

In other news, EVP Seana Carson sold 13,370 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $6.21, for a total transaction of $83,027.70. Following the completion of the transaction, the executive vice president now owns 435,198 shares of the company’s stock, valued at approximately $2,702,579.58. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 8.12% of the company’s stock.

Bausch Health Companies Stock Up 0.6 %

BHC stock opened at $8.32 on Friday. Bausch Health Companies Inc. has a twelve month low of $3.96 and a twelve month high of $11.46. The firm has a market capitalization of $3.00 billion, a PE ratio of -6.71 and a beta of 0.77. The stock has a 50-day simple moving average of $6.50 and a two-hundred day simple moving average of $7.25.

Bausch Health Companies (NYSE:BHC) last posted its earnings results on Thursday, August 1st. The company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.09. The business had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.33 billion. Bausch Health Companies had a negative net margin of 5.12% and a negative return on equity of 742.06%. During the same period in the prior year, the company posted $0.81 EPS. On average, equities research analysts anticipate that Bausch Health Companies Inc. will post 3.61 EPS for the current fiscal 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.