Cypress Capital LLC lowered its stake in shares of Bausch Health Companies Inc. (NYSE:BHC – Get Rating) by 9.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,507 shares of the company’s stock after selling 1,950 shares during the period. Cypress Capital LLC’s holdings in Bausch Health Companies were worth $423,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently bought and sold shares of the stock. Qube Research & Technologies Ltd purchased a new stake in Bausch Health Companies during the first quarter worth $6,418,000. Retirement Planning Co of New England Inc. lifted its holdings in shares of Bausch Health Companies by 9.4% during the 1st quarter. Retirement Planning Co of New England Inc. now owns 17,831 shares of the company’s stock valued at $407,000 after purchasing an additional 1,528 shares during the last quarter. Private Management Group Inc. lifted its holdings in shares of Bausch Health Companies by 1.1% during the 1st quarter. Private Management Group Inc. now owns 1,250,608 shares of the company’s stock valued at $28,576,000 after purchasing an additional 13,868 shares during the last quarter. Fountainhead AM LLC lifted its holdings in shares of Bausch Health Companies by 2.4% during the 1st quarter. Fountainhead AM LLC now owns 210,084 shares of the company’s stock valued at $4,800,000 after purchasing an additional 5,019 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its holdings in shares of Bausch Health Companies by 3.1% during the 1st quarter. CIBC Asset Management Inc now owns 258,731 shares of the company’s stock valued at $5,917,000 after purchasing an additional 7,693 shares during the last quarter. Hedge funds and other institutional investors own 73.38% of the company’s stock.
Analysts Set New Price Targets
Several analysts have recently commented on BHC shares. Royal Bank of Canada lowered Bausch Health Companies from an “outperform” rating to a “sector perform” rating and decreased their price objective for the company from $12.00 to $5.00 in a report on Friday, July 29th. BMO Capital Markets decreased their price objective on Bausch Health Companies from $26.00 to $15.00 in a report on Wednesday, May 11th. StockNews.com lowered Bausch Health Companies from a “buy” rating to a “hold” rating in a report on Wednesday, May 11th. Bank of America cut their target price on Bausch Health Companies from $25.00 to $12.00 in a research report on Wednesday, May 11th. Finally, JPMorgan Chase & Co. downgraded Bausch Health Companies from an “overweight” rating to a “neutral” rating in a research report on Thursday, July 28th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $10.20.
Bausch Health Companies Price Performance
Bausch Health Companies (NYSE:BHC – Get Rating) last announced its quarterly earnings results on Tuesday, May 10th. The company reported $0.72 earnings per share for the quarter, missing the consensus estimate of $1.03 by ($0.31). The company had revenue of $1.92 billion for the quarter, compared to analyst estimates of $2.06 billion. Bausch Health Companies had a negative return on equity of 649.29% and a negative net margin of 4.89%. Research analysts expect that Bausch Health Companies Inc. will post 3.85 earnings per share for the current year.
Bausch Health Companies Company Profile
Bausch Health Companies Inc, together with its subsidiaries, develops, manufactures, and markets a range of pharmaceutical, medical device, and over-the-counter (OTC) products primarily in the therapeutic areas of eye health, gastroenterology, and dermatology. The company operates through five segments: Bausch + Lomb, Salix, International Rx, Ortho Dermatologics, and Diversified Products.
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