Cinctive Capital Management LP Has $683,000 Holdings in Bausch Health Companies Inc. (NYSE:BHC)

Cinctive Capital Management LP boosted its stake in Bausch Health Companies Inc. (NYSE:BHC) by 25.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 83,710 shares of the company’s stock after purchasing an additional 17,233 shares during the quarter. Cinctive Capital Management LP’s holdings in Bausch Health Companies were worth $683,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Headlands Technologies LLC bought a new stake in shares of Bausch Health Companies in the 2nd quarter valued at about $35,000. MQS Management LLC acquired a new position in Bausch Health Companies during the second quarter valued at approximately $71,000. Certuity LLC acquired a new position in Bausch Health Companies during the second quarter valued at approximately $75,000. Bfsg LLC increased its stake in 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 purchasing an additional 3,643 shares in the last quarter. Finally, Kendall Capital Management acquired a new stake in Bausch Health Companies in the second quarter worth $87,000. Institutional investors and hedge funds own 78.65% of the company’s stock.

Insider Buying and Selling

In other Bausch Health Companies news, EVP Seana Carson sold 13,370 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $6.21, for a total transaction of $83,027.70. Following the sale, the executive vice president now directly owns 435,198 shares of the company’s stock, valued at approximately $2,702,579.58. This represents a 2.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 8.12% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Jefferies Financial Group lowered their price objective on shares of Bausch Health Companies from $13.00 to $9.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Evercore ISI upgraded Bausch Health Companies to a “hold” rating in a report 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 research note on Friday, October 25th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $7.75.

Bausch Health Companies Stock Performance

NYSE BHC opened at $8.09 on Wednesday. Bausch Health Companies Inc. has a 52 week low of $3.96 and a 52 week high of $11.46. The stock’s 50 day moving average price is $8.41 and its two-hundred day moving average price is $7.16. The stock has a market capitalization of $2.91 billion, a price-to-earnings ratio of -16.85 and a beta of 0.69.

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

Bausch Health Companies Company 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.