Bank of Montreal Can Has $31.60 Million Stake in Bausch Health Companies Inc. (NYSE:BHC)

Bank of Montreal Can increased its stake in shares of Bausch Health Companies Inc. (NYSE:BHC) by 234.0% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 3,833,179 shares of the company’s stock after acquiring an additional 2,685,675 shares during the period. Bank of Montreal Can owned 1.04% of Bausch Health Companies worth $31,598,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in BHC. Mackenzie Financial Corp increased its holdings in shares of Bausch Health Companies by 111.0% during the 2nd quarter. Mackenzie Financial Corp now owns 2,381,888 shares of the company’s stock valued at $16,612,000 after acquiring an additional 1,252,834 shares during the last quarter. Clearline Capital LP acquired a new position in shares of Bausch Health Companies during the 2nd quarter valued at about $6,881,000. Private Management Group Inc. increased its holdings in shares of Bausch Health Companies by 43.0% during the 2nd quarter. Private Management Group Inc. now owns 1,495,953 shares of the company’s stock valued at $10,427,000 after acquiring an additional 449,623 shares during the last quarter. LMR Partners LLP acquired a new position in shares of Bausch Health Companies during the 3rd quarter valued at about $3,264,000. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Bausch Health Companies by 12.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,165,512 shares of the company’s stock valued at $22,063,000 after acquiring an additional 341,936 shares during the last quarter. Institutional investors and hedge funds own 78.65% of the company’s stock.

Bausch Health Companies Trading Up 2.9 %

Shares of BHC stock opened at $8.12 on Friday. The stock has a 50 day moving average of $8.41 and a two-hundred day moving average of $7.13. Bausch Health Companies Inc. has a 12 month low of $3.96 and a 12 month high of $11.46. The company has a market capitalization of $2.99 billion, a P/E ratio of -16.92 and a beta of 0.74.

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 company had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.42 billion. Bausch Health Companies had a negative return on equity of 755.86% and a negative net margin of 1.88%. The company’s quarterly revenue was up 12.2% on a year-over-year basis. During the same quarter last year, the company earned $1.03 EPS. Sell-side analysts predict that Bausch Health Companies Inc. will post 3.74 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Seana Carson sold 13,370 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $6.21, for a total transaction of $83,027.70. Following the completion of the transaction, the executive vice president now owns 435,198 shares in the company, valued at $2,702,579.58. This trade represents a 2.98 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 8.12% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Jefferies Financial Group lowered their target price on Bausch Health Companies from $13.00 to $9.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Scotiabank lowered their target price on Bausch Health Companies from $10.00 to $8.50 and set a “sector perform” rating on the stock in a report on Friday, August 2nd. Royal Bank of Canada raised their target price 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. Evercore ISI raised Bausch Health Companies to a “hold” rating in a report on Tuesday, October 15th. Finally, Piper Sandler lowered Bausch Health Companies from a “neutral” rating to an “underweight” rating and lowered their target price for the company from $9.00 to $3.00 in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Bausch Health Companies currently has an average rating of “Hold” and a consensus target price of $7.75.

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.