Cypress Capital LLC Lowers Stake in Bausch Health Companies Inc. (NYSE:BHC)

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

NYSE BHC opened at $5.59 on Friday. The stock’s fifty day moving average price is $8.06 and its 200 day moving average price is $16.48. Bausch Health Companies Inc. has a 1 year low of $4.00 and a 1 year high of $29.59. The company has a market cap of $2.02 billion, a price-to-earnings ratio of -4.90, a PEG ratio of 0.07 and a beta of 1.35.

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

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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.