Commonwealth Equity Services LLC purchased a new position in shares of Bausch Health Companies Inc (NYSE:BHC) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 35,885 shares of the company’s stock, valued at approximately $921,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Bank of Montreal Can acquired a new position in Bausch Health Companies during the 3rd quarter worth about $94,432,000. Private Management Group Inc. acquired a new position in Bausch Health Companies during the 2nd quarter worth about $28,474,000. O Shaughnessy Asset Management LLC acquired a new position in Bausch Health Companies during the 3rd quarter worth about $29,915,000. Tobam acquired a new position in Bausch Health Companies during the 2nd quarter worth about $13,886,000. Finally, Van ECK Associates Corp acquired a new position in Bausch Health Companies during the 2nd quarter worth about $11,494,000. Institutional investors and hedge funds own 42.74% of the company’s stock.
Shares of NYSE:BHC opened at $24.35 on Monday. The stock has a market cap of $8.52 billion, a price-to-earnings ratio of 6.36, a PEG ratio of 0.32 and a beta of -0.28. Bausch Health Companies Inc has a 1-year low of $14.44 and a 1-year high of $28.45. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.14 and a quick ratio of 0.91.
Several analysts have weighed in on the company. Zacks Investment Research raised Bausch Health Companies from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a report on Wednesday, October 3rd. Mizuho boosted their price objective on Bausch Health Companies from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Friday. ValuEngine cut Bausch Health Companies from a “hold” rating to a “sell” rating in a report on Friday, September 7th. Royal Bank of Canada boosted their price objective on Bausch Health Companies from $30.00 to $31.00 and gave the stock a “hold” rating in a report on Wednesday, November 7th. Finally, Piper Jaffray Companies set a $16.00 price objective on Bausch Health Companies and gave the stock a “sell” rating in a report on Tuesday, August 7th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $28.18.
In related news, Director Schutter Richard U. De purchased 125,000 shares of the stock in a transaction dated Thursday, September 13th. The stock was bought at an average cost of $23.96 per share, with a total value of $2,995,000.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Christina Ackermann sold 19,946 shares of the company’s stock in a transaction dated Tuesday, October 16th. The shares were sold at an average price of $24.98, for a total value of $498,251.08. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 165,000 shares of company stock valued at $3,890,700. 11.54% of the stock is currently owned by company insiders.
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About Bausch Health Companies
Bausch Health Companies Inc develops, manufactures, and markets a range of pharmaceutical, medical device, and over-the-counter products primarily in the therapeutic areas of eye health, gastroenterology, and dermatology. It offers dermatology products that treat a range of conditions, including actinic keratosis, acne, atopic dermatitis, psoriasis, cold sores, athlete's foot, nail fungus, and other dermatoses, as well as provides aesthetic medical devices, which address various conditions, including facial wrinkles, acne, pigmentation conditions, body sculpting, skin tightening, and laser hair removal.
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