Verition Fund Management LLC Takes Position in Bausch Health Companies Inc. (NYSE:BHC)

Verition Fund Management LLC purchased a new stake in Bausch Health Companies Inc. (NYSE:BHC) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 99,028 shares of the company’s stock, valued at approximately $808,000.

Several other institutional investors have also added to or reduced their stakes in the company. Bfsg LLC boosted its position in shares of Bausch Health Companies by 46.7% in the second quarter. Bfsg LLC now owns 11,450 shares of the company’s stock valued at $80,000 after acquiring an additional 3,643 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Bausch Health Companies by 6.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 60,706 shares of the company’s stock worth $423,000 after purchasing an additional 3,923 shares in the last quarter. Tobam boosted its holdings in Bausch Health Companies by 48.9% in the 2nd quarter. Tobam now owns 26,148 shares of the company’s stock valued at $182,000 after purchasing an additional 8,586 shares during the period. Van ECK Associates Corp boosted its holdings in Bausch Health Companies by 3.9% in the 2nd quarter. Van ECK Associates Corp now owns 302,471 shares of the company’s stock valued at $2,108,000 after purchasing an additional 11,379 shares during the period. Finally, CIBC Asset Management Inc increased its holdings in shares of Bausch Health Companies by 8.8% during the second quarter. CIBC Asset Management Inc now owns 373,647 shares of the company’s stock worth $2,604,000 after purchasing an additional 30,124 shares during the period. 78.65% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on BHC shares. Evercore ISI upgraded Bausch Health Companies to a “hold” rating in a research note on Tuesday, October 15th. Royal Bank of Canada lifted their price objective 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. Finally, StockNews.com raised Bausch Health Companies from a “hold” rating to a “buy” rating in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Bausch Health Companies has a consensus rating of “Hold” and an average price target of $7.75.

Bausch Health Companies Stock Performance

Shares of BHC opened at $8.46 on Tuesday. Bausch Health Companies Inc. has a 52-week low of $3.96 and a 52-week high of $11.46. The firm has a market cap of $3.06 billion, a price-to-earnings ratio of -17.61 and a beta of 0.69. The business’s fifty day moving average is $8.41 and its 200-day moving average is $7.21.

Bausch Health Companies (NYSE:BHC) last released its earnings results on Wednesday, October 30th. The company reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.10. The firm had revenue of $2.51 billion for the quarter, compared to analysts’ expectations 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 business’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.03 earnings per share. As a group, research analysts forecast that Bausch Health Companies Inc. will post 3.74 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.