Northwest & Ethical Investments L.P. Increases Stock Holdings in Bausch Health Companies Inc. (NYSE:BHC)

Northwest & Ethical Investments L.P. increased its holdings in Bausch Health Companies Inc. (NYSE:BHC) by 119.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 71,139 shares of the company’s stock after acquiring an additional 38,755 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Bausch Health Companies were worth $574,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Magnetar Financial LLC bought a new position in Bausch Health Companies in the fourth quarter worth $151,000. Intact Investment Management Inc. raised its holdings in Bausch Health Companies by 38.3% in the fourth quarter. Intact Investment Management Inc. now owns 261,300 shares of the company’s stock worth $2,112,000 after purchasing an additional 72,300 shares in the last quarter. Kendall Capital Management raised its holdings in Bausch Health Companies by 43.4% in the fourth quarter. Kendall Capital Management now owns 17,995 shares of the company’s stock worth $145,000 after purchasing an additional 5,445 shares in the last quarter. Raymond James Financial Inc. bought a new position in Bausch Health Companies in the fourth quarter worth $180,000. Finally, Aigen Investment Management LP bought a new position in Bausch Health Companies in the fourth quarter worth $180,000. Hedge funds and other institutional investors own 78.65% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on BHC. Royal Bank of Canada decreased their price objective on Bausch Health Companies from $11.00 to $10.00 and set a “sector perform” rating for the company in a report on Thursday, January 30th. Jefferies Financial Group reiterated a “hold” rating and issued a $8.00 price objective (down previously from $12.00) on shares of Bausch Health Companies in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $7.42.

Bausch Health Companies Price Performance

Shares of NYSE:BHC opened at $7.17 on Friday. Bausch Health Companies Inc. has a 1-year low of $3.96 and a 1-year high of $11.46. The business has a fifty day moving average price of $7.14 and a 200-day moving average price of $7.68. The company has a market capitalization of $2.64 billion, a PE ratio of -59.70, a PEG ratio of 0.37 and a beta of 0.59.

Bausch Health Companies (NYSE:BHC) last released its quarterly earnings data on Wednesday, February 19th. The company reported $1.21 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.44). Bausch Health Companies had a negative return on equity of 577.82% and a negative net margin of 0.48%. The business had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.51 billion. On average, sell-side analysts anticipate that Bausch Health Companies Inc. will post 4.41 earnings per share for the current fiscal 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.