Arrowstreet Capital Limited Partnership Has $38.50 Million Stock Holdings in Bausch Health Companies Inc. (NYSE:BHC)

Arrowstreet Capital Limited Partnership raised its stake in Bausch Health Companies Inc. (NYSE:BHC) by 46.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,770,793 shares of the company’s stock after buying an additional 1,510,445 shares during the period. Arrowstreet Capital Limited Partnership owned 1.32% of Bausch Health Companies worth $38,501,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mountain Hill Investment Partners Corp. acquired a new stake in shares of Bausch Health Companies during the 4th quarter valued at $56,000. Tobam boosted its stake in shares of Bausch Health Companies by 10.4% during the fourth quarter. Tobam now owns 15,034 shares of the company’s stock valued at $121,000 after purchasing an additional 1,422 shares in the last quarter. Norges Bank acquired a new stake in shares of Bausch Health Companies during the fourth quarter valued at about $141,000. DGS Capital Management LLC bought a new stake in shares of Bausch Health Companies during the fourth quarter worth about $143,000. Finally, Kendall Capital Management raised its holdings in Bausch Health Companies by 43.4% in the 4th quarter. Kendall Capital Management now owns 17,995 shares of the company’s stock valued at $145,000 after buying an additional 5,445 shares during the last quarter. Institutional investors own 78.65% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Royal Bank of Canada reduced their target price on shares of Bausch Health Companies from $11.00 to $10.00 and set a “sector perform” rating on the stock in a report on Thursday, January 30th. Jefferies Financial Group restated a “hold” rating and issued a $8.00 price objective (down from $12.00) on shares of Bausch Health Companies in a report on Thursday, February 6th. One analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $7.42.

Bausch Health Companies Stock Performance

NYSE:BHC opened at $6.12 on Thursday. Bausch Health Companies Inc. has a 52 week low of $3.96 and a 52 week high of $11.46. The firm’s fifty day moving average is $7.00 and its 200-day moving average is $7.71. The firm has a market cap of $2.25 billion, a P/E ratio of -51.00, a P/E/G ratio of 0.37 and a beta of 0.59.

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